The First Art Newspaper on the Net   Established in 1996 United States Saturday, August 17, 2019


Sales of 'less elitist' contemporary art soar according to research published by Artprice
Artprice calculated the total value of such works sold in 2012-13 at 1.047 billion euros ($1.4 billion).


PARIS (AFP).- Sales of contemporary art rose 15 percent in the year to June as the worldwide market bounced back from the global financial crisis, according to research published on Monday.

Artprice, a French company which tracks art sales worldwide, said the strong performance compared with a 2.4 percent contraction in the overall art market and reflected the growing investment value of works by artists born after 1945.

Artprice calculated the total value of such works sold in 2012-13 at 1.047 billion euros ($1.4 billion), surpassing the previous year's sales by 140 million euros as well as the previous record of 979 million euros, set in 2007-08.

"It's proof of the maturity of the contemporary art market which, until recently, was the first to fall in times of crisis," Artprice's president-founder Thierry Ehrmann told AFP.

"It has been given an important vote of confidence. New museums opening up across the world are buying lots of contemporary art, investors are taking an interest."

Ehrmann believes the trend can also be explained by the contemporary sector's role as a "mirror to our times".

"It speaks to a broader public, it is more accessible, less elitist than modern art," he added.

Contemporary art still represents only 13 percent of the global art market but its significance is no longer in doubt: only ten years ago the sector's sales totalled just 75 million euros.

The growth in the value of sales over the last year was not a result of more works coming to market: the total of around 45,000 items was stable.

Instead, the rise was attributed to a series of big-ticket individual sales, notably of works by the late Jean-Michel Basquiat and Jeff Koons.

The United States, with 353.77 million euros of sales, China (353.57m) and Britain (221.4m) account for the vast majority of contemporary art sales.




© 1994-2013 Agence France-Presse





Today's News

October 8, 2013

Frida Kahlo / Diego Rivera: Art in Fusion opens at Musée de l'Orangerie in Paris

Pissarro and van Gogh among highlights at Bonhams Impressionist & Modern Art auction

Three Metropolitan Museum exhibitions generated $742 million economic impact for New York

Sotheby's Hong Kong sets world auction record for any white diamond in Magnificent Jewels & Jadeite Sale

Sotheby's appoints Haunch of Venison's Fru Tholstrup Director of new S/2 Gallery in London

"The Future of America: Lewis Hine's New Deal Photographs" on view at the International Center of Photography

Cornell Fine Arts Museum at Rollins College announces curator appointment

First major solo exhibition of work by artist Abdulnasser Gharem opens in London

Frick Art & Historical Center announces retirement of Director Bill Bodine

Rare 'Visage Noir' service highlights Christie's first online-only Picasso Ceramics sale

Exhibitions showcase Modern masters, Contemporary Photography and new media film

Sales of 'less elitist' contemporary art soar according to research published by Artprice

Contemporary art in editions fair, Multiplied, returns to Christie's South Kensington this October

Sotheby's appoints Julian King as International Specialist and Carrie Li as Senior Specialist

British achievers are celebrated in new display of previously un-exhibited photographs

Eugenio Re Rebaudengo launches new online gallery with exhibition of Luigi Ghirri prints

2013 Carnegie International opens in Pittsburgh

Gavin Gardiner Ltd announces Auction of Modern & Vintage Sporting Guns & Rifles

"Women Call for Peace: Global Vistas" opens at John Jay College of Criminal Justice

Valencian Institute for Modern Art opens "Pedro Valdez Cardoso. Discourse of the method"

Most Popular Last Seven Days



1.- Conservation reveals Wellington Collection work was painted by Titian's Workshop

2.- New dinosaur discovered after lying misidentified in university's vaults for over 30 years

3.- Unseen Texas Chainsaw Massacre outtakes and stills sold for a combined $26,880

4.- National gallery reveals conserved Italian altarpiece by Giovanni Martini da Udine

5.- London's Tate Modern evacuated after child falls, teen arrested

6.- Bavarian State Minister of the Arts restitutes nine works of art

7.- Boy thrown from London's Tate Modern is French tourist visiting UK

8.- Child thrown from London gallery has broken spine, legs and arm

9.- £10 million Turner masterpiece may leave British shores

10.- Tourists banned from sitting on Rome's Spanish Steps



Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .

 



Founder:
Ignacio Villarreal
(1941 - 2019)
Editor & Publisher: Jose Villarreal
Art Director: Juan José Sepúlveda Ramírez

Royalville Communications, Inc
produces:

ignaciovillarreal.org avemariasound.org juncodelavega.com facundocabral-elfinal.org
Founder's Site. The most varied versions
of this beautiful prayer.
Hommage
to a Mexican poet.
Hommage
       

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site
Tell a Friend
Dear User, please complete the form below in order to recommend the Artdaily newsletter to someone you know.
Please complete all fields marked *.
Sending Mail
Sending Successful