PARIS, March 15, 2021 /PRNewswire/ -- Our 23rd Annual
Art Market Report offers a global analysis of public sales of Fine
Art – painting, sculpture, drawing, photographs, prints,
installations – between 1 January and 31
What was, at one point, anticipated as a 'blank year' for the
Art Market, turned out to be much more positive than expected. The
cancellation of fairs, exhibitions and all sales in March 2020 prompted fears of a complete shutdown
of the art industry. But unlike museums, which have suffered the
full impact of covid-related restrictions, the auction houses
quickly found ways to preserve the core of their activities thanks
to the dematerialization via digital technology: versus 2019,
they maintained 79% of their turnover and sold a volume of lots
equivalent to 91% of the previous year's total.
Artprice's Art Market Confidence Index in 2020
AMCI: Art Market Confidence Index
Our 2020 Art Market Report is available free of charge, in
full, and in three languages, both online and as a PDF
Thierry Ehrmann, President and
Founder of Artmarket.com and its Artprice department, is pleased to
announce the free publication of the 23rd Annual Art Market
"The pandemic which took the world by surprise has forced Art
Market professionals to accelerate a digitization process that they
had been procrastinating for too long. Twelve months ago, this
industry still showed a certain resistance to anything related to
digital culture, which resulted in a reluctance to implement
effective IT tools. In contrast to this delay, which has left much
of the art sector almost thirty years behind the rest of the
economy, Artprice has never stopped innovating and preparing the
ground for the inevitable future.
So it is with much enthusiasm – despite the situation – that
our group has supported all the key actors of the Art Market to
take on a historic challenge... to repair in just a few months
(sometimes even just a few weeks) three decades of
Art Market 2.0
The Art Market has adopted a new economic model and reached a
new equilibrium that the most optimistic projections were not
expecting to see before 2025. It is now much better equipped to
work with contemporary ways of living and collecting, i.e. those of
the 21st century.
With this 23rd Annual Report, Artprice and its editorial partner
Artron are proud to provide a global analysis of this paradigm
through a focus on the following questions:
- How has the pandemic impacted the art market?
- How has digital technology affected the market and what will
tomorrow's market look like?
- Why has China's market
resisted so well?
- How have collectors reacted?
- What types of works are most in-demand?
- Which artists have reached records despite the crisis?
- How have social-cultural upheavals – from #MeToo to Black Lives
Matter – impacted the Art Market?
The report also contains Artprice's famous Top-500 ranking of
the world's most sought-after artists and a month-by-month
breakdown of the highlights of the art market in 2020 as it
struggled to meet the unprecedented challenges prompted by the
China in pole
The report underscores the place China now holds on the global Art Market: that
of the most serious competitor to the
United States. Although the Chinese art market has its own
codes, it is more interesting for that reason and it makes for a
particularly substantial and fascinating editorial partnership
between Artprice and Artron.
Top 10 countries by Fine Art auction turnover (change vs
1. China (Artron):
2. United States:
3. United Kingdom:
Geographical breakdown of Fine Art auction turnover in
Looking at our other key market indicators, the Artprice100©
benchmark index has increased by +405% since 1 January 2000. In 2020, this blue-chip artists
index posted an increase of +1.8%.
Contemporary Art, both in the West and in Asia, is still the locomotive of the Art
Market, despite the pandemic context.
In sum, despite a global tragedy that is unique in social and
modern economic history, the Art Market has rebounded via digital
technology, which it has massively adopted within a record time and
which has allowed the market's turnover contraction to be limited
to just -21%, which in itself – given the circumstances – is a
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Artmarket is a global player in the Art Market with, among other
structures, its Artprice department, world leader in the
accumulation, management and exploitation of historical and current
art market information in databanks containing over 30 million
indices and auction results, covering more than 770,000
Artprice Images® allows unlimited access to the largest Art
Market image bank in the world: no less than 180 million digital
images of photographs or engraved reproductions of artworks from
1700 to the present day, commented by our art historians.
Artmarket with its Artprice department accumulates data on a
permanent basis from 6300 Auction Houses and produces key Art
Market information for the main press and media agencies (7,200
publications). Its 4.5 million 'members log in' users have access
to ads posted by other members, a network that today represents the
leading Global Standardized Marketplace® to buy and sell artworks
at a fixed or bid price (auctions regulated by paragraphs 2 and 3
of Article L 321.3 of France's
Artmarket with its Artprice department, has been awarded the
State label "Innovative Company" by the Public Investment Bank
(BPI) (for the second time in November
2018 for a new period of 3 years) which is supporting the
company in its project to consolidate its position as a global
player in the market art.
Artprice by Artmarket's 2020 Global Art Market Report published
in March 2021:
Index of press releases posted by Artmarket with its Artprice
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Contact: Thierry Ehrmann,
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