The company Artprice, which produces a yearly report on the state of the art market, has published the first results of its survey.
In this preliminary report, Artprice announces the stabilisation of the art market, namely in the West where variation in auction sales revenue between the 2014 and 2015 financial years was nil – a total of $11.2 billion. Taking care to remind that this revenue came to $4.6 billion in 2005, Artprice points out that the auction art market has more than doubled in the space of 10 years, without taking into account the contribution of sales in China. China, with a sales revenue close to $4 billion, is also undergoing relative stability. 2015 was also a year of high-quality lots, defying economic fluctuations. According to Artprice, the constant growth rate for a work worth over $100,000 is between 12 and 15 %.
The Artprice report on the state of the art market in 2015 will be published in full on 27 February 2016.