Artprice’s 2013/2014 Contemporary Art Market Report is now online and can be downloaded for free.
It contains original rankings, such as the Top 500 contemporary artists according to turnover.
The report is based on Artprice’s continually renewing databanks of information from 4,500 auctioneers.
It states that the 2013-2014 period for the contemporary art sector has never been so competitive or speculative, with a record set by Jeff Koons’ contemporary work of art sold €38.8 million, a record number of auction sales reaching the million dollar/euro threshold and a record auction turnover for a Post-War and Contemporary Art sale.
“In four short years, the global turnover achieved in the sale room, irrespective of period, has almost doubled since the slowdown of 2009/2010: a period that registered a price drop of 48%,” said Artprice founder Thierry Ehrmann.
“Affluence has not been slow to return, buoyed up by a market structure that has changed significantly in many respects, including the increased globalisation and dematerialisation of sales. The galloping speculation of the period between 2004 and 2007 is once more to the fore and the contemporary market is more affluent than during the micro-bubble of 2007: a year of rocketing prices, with revenues for the year up by 50% for a similar number of works sold.”
Read the full report here.