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Image header Agence Europe
Europe Daily Bulletin No. 11021
Contents Publication in full By article 33 / 33
BUSINESS NEWS NO 93 / (ae) art

Art market in robust health. In 2013, the art market increased by more than 13%, to reach an historic level and, according to the most recent statistics published by Artprice, the leader in the world in art market data and quotations, 2014 already looks like it is going to be a record year. In 2013, public auctions of works of art in the world brought a total of $12.05 billion. China has just managed to maintain its leadership in this field, ahead of the US. These two countries monopolise two thirds of all art sold at auction. This surge has come after a fall of more than 9% in 2012 to $10.64 billion, mainly down to a strong contraction on the Chinese market, whilst the US is beginning to regain ground. Proceeds from sales in 2013 increased by 2.3% compared to 2011, the previous record year, when it reached a figure of $11.78 billion. With sales of $4.078 billion and a market share of 33.84%, China is ahead for the fourth consecutive year but only just. The US obtained sales proceeds worth $4.016 billion, a 20% rise and market share of 33.33%. The United Kingdom is in third place but a long way behind the two world leaders, with sales proceeds worth $2.11 billion and market share of 17.57%. France is in fourth place, with sales of $549 million and market share of 4.56%. Germany is in fifth place with $207 million, ahead of Switzerland, with $159 million. Another observation is that the market is dependent on a small number of contemporary artists whose prices continue to rise. Half of all the revenue taken in 2013, then, came from just 100 artists and 25,000 lots. The British auctioneers Christie's and its US equivalent Sotheby's confirmed their domination in this field, accounting for more than 55% of the world's art market last year. Christie's had a turnover of $3.5 billion from 21,492 lots and Sotheby's turnover stood at $3.1 billion, from 12,592 lots. The Chinese companies Poly International, China Guardian and Beijing Council International are the next major players but they still lag very far behind. (IL/transl.fl)

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BUSINESS NEWS NO 93