On the eve of London Art Fair
(20-25 January), a survey of exhibiting galleries reveals that:
· Over half of galleries think that the economy will get better in 2015
· Only 6% think that the economy will worsen
· Half think that there will be an improvement in art market fortunes in 2015
· Increased opportunities to show work internationally and collaborations and partnerships with other galleries are seen as the factors which will have most impact on the market
As the art world year opens in London with the 27th edition of London Art Fair, a survey of galleries taking part reveals that most remain optimistic about the state of the economy and the prospects for the art market.
Following a record year for the art world, galleries are a little less bullish than they were at the same time last year, when none of them saw a shrinking of the art market in prospect, but pessimism is still in short supply, with only 4% thinking that the market will fare worse than the previous year.
Galleries were also asked about which opportunities they see having a positive impact on the art market. Almost a third, 30%, cited increased opportunities to show work internationally, while 27% are looking to collaborations and partnerships with other galleries to grow their reach.
Sarah Monk, Director of London Art Fair, comments: Its great to see the art world maintaining confidence at the start of 2015 and were looking forward to another successful Fair next week. Within this years Fair were reflecting the trend for both partnerships and collaborations, with our Dialogues section in Art Projects and the growing importance of the international market, with an increase in our international exhibitors to 14% and a panel discussion on the Globalisation of the Art Market on Friday 23 January.