“The record number of global Fine Art auction transactions since 1945”
Overview
• Global Fine Art auction turnover reached $15.48 billion over the twelve months of 2018
• 538,000 artworks changed hands at auction in 2018: an absolute record since 1945
• Global turnover was up +4%, for a third consecutive year of expansion
• David Hockney became the world’s most valued living artist (with a result of $79.77 million)
• Jenny Saville became the world’s most valued living female artist ($12.49 million)
• The unsold rate remained stable at 36% in the West
• In China, the unsold rate dropped significantly by 14 points
Soft Power
• The US (up +18%) and the United Kingdom (up +12%) drove Western growth
• The US was again the world’s leading market with $5.8 billion (37.9% of global turnover)
• China is in second place with $4.5 billion
• France was 4th with 4.5% of global turnover ($694 million), down 10% vs. 2017
• Christie’s remained the world’s leading Fine Art auction operator, with $5 billion, ahead of
Sotheby’s with $3.9 billion
• In China, Poly Auction ($654 million) outperformed China Guardian ($606 million)
Financial report
· The reauctions generated an average annual return ranging from +6.2% to +8.2%
· ArtWorks sold from $200,000 to $1 million generating the highest annual return: + 8.2%
Artprice100© “The Wolves of Wall Street at the gates of the Art Market”
The Artprice100® index shows an increase of +380% since 2000
Or an annual average return of +8.6%
Eight artists changes in our Artprice100® index between fiscal year 2017 and 2018
In 2000, only 1 Chinese artist (Zhang Daqian) qualified for inclusion in our Artprice100®
index compared with 16 in 2017
Trends:
·Modern Art dominates the high-end market with 8 of the Top-10 results
· 159 European artists ranked in the Top 500, versus 153 Asian and 93 North American
· Abstract art reached new heights with Malevich, Zao Wou-Ki, Soulages, Motherwell, etc.
· African American Art in the spotlight with Kerry James Marshall (# 67) and N.A. Crosby (#426)
· Famous Female artists in vogue with records for Joan Mitchell, Cecily Brown, Jenny Saville, etc.
You can see the details at the link: https://drive.google.com/file/d/1zjHc0x6Euuw_56MdytJGzIE3EN4qccvY/view?usp=sharing
