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  Tuesday, 16 September 2014

In 2013 the United States is back in the lead market of art and antiques
In 2013 the world market for art and antiques worth over 47,000 million euros, an increase of 8% over the previous year. Moreover, USA has regained the lead with a share of 38% of its value. China, which in 2012 was located in the first place, is now in second position (24% market share), although with an increase of 2% compared to last year. UK is third with 20%, but the crisis has damaged the image of the EU as a whole, which is reflected in a 2% drop in sales.

The figures are published by the European Antiques and Art Fair (TEFAF) annual report, the largest in the branch. According to its author, the economist Clare McAndrew, the worst moment of the global financial crisis between 2007 and 2009.
 
"Since then, have been less dramatic ups and downs in a business that generates 2.5 million jobs," says the economist.

So the trend consultancy artprice.com which had put face to publish the stratospheric figure of 12.005 million dollars (8.737 million euros) concerning the sale of works at auction houses also confirmed last year.

The fashion trend today mark in a market dominated by dealers, galleries and auction houses around. So rose 11% in 2013 the area of ​​modern works (after 1945) and contemporary sector a couple of decades were ignored, reaching 4,900 million euros in public sales.

"There are paintings by old masters in circulation, but most is held by museums. So people began to notice the other segment, but without taking risks. Names such as Damien Hirst are no longer looked for, but artists such as Bacon, Rothko, Lichtenstein and Basquiat. Or Picasso as well, which never fails”, says the expert.

Americans merchants are making enormous business with these firms, especially in New York. "In that country there are more millionaires and super-rich than anywhere else, and shopping is faster than in Europe. Although states have different laws, import and export is still easier than in European territory," says McAndrew.

The data from the consultant artprice.com confirm those extremes, and their reports include some huge amounts:
 
1. The 106 million euros paid by the triptych "Three Studies of Lucian Freud", painted by his British colleague Francis Bacon.
 
francis bacon
 
2. "Double disaster" by Andy Warhol (76.4 million euros).
 
andy warhol
 
3. "Balloon Dog-Orange" by Jeff Koons (58 million dollars).
 
jeff koons
 
4. The canvas "Number 19", Jason Pollock (42.4 million euros).
 
jason pollock
 
A quartet which establishes the United States as the hub of the most expensive sales.
 
While the new regions of the art market hatch, 42% of the 32 million millionaires in the world reside in the United States. 2% of that privileged group are collectors.

By contrast Europe is seen as a place where transactions can be slow, expensive or complicated. "The dealer prefers to transfer the work to another place because European taxes impede operations," said the expert, in her analysis to TEFAF.
  • USA returns to the throne of the art and antiques market in 2013
  • China is second in the report and the UK, in the third
  • The report of the Art and Antiques Fair Maastricht (TEFAF) indicates, however, that the decline in the EU is 2%
China remains the world's most important new market, though in 2013 has dropped to second place. With sales exceeding 11,500 million euros, painting and calligraphy accounted for 56% of total.

“Both in China and in the Middle East prefer the old masters when they buy pieces from other cultures. Although large sums are paid, it doesn't seem that other emerging markets, whether in Asia, India, or even Russia, are to dominate large-scale acquisitions. There are great collectors, but they are still very few. Not forgetting that may be opened an impressive museum in the Middle East, but lack the rest of the arts infrastructure. These regions will take time to be relevant." says the economist.

Artprice.com commented, for example, searching of large architects responsible for the new rooms for the super-rich art.

In Abu Dabi (Arab Emirates), the firms of Tadao Ando, Frank Gehry, Zaha Hadid or Jean Nouvel are brought. And the Royal Family of Qatar invests over 1.000 millon euros every year on art. The most active family member is the Sheikha Mayasa Bint Hamad al Thani, which acquired the Bacon triptych on 2013.

Sources:
EL PAÍS
TEFAF
ARTPRICE

 
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