Artprice has just released its Global art market: How was 2017? From Leonardo to Cattelan, here all the italians in the Artprice Top-500.
Artprice has just released its annulla Global art market report for 2017.
fruit of an alliance between Artprice, world leader in Art Market information, founded and directed by thierry Ehrmann, and Artron, its powerful Chinese institutional partner The result is the only truly global art market report providing reliable insight into both the Western and the Eastern art market. No other organisation or team is currently capable of such high quality processing and interpreting of macro- and micro-economic metadata in a Big Data environment.
Here you have all most important datas and the names of the Italian Artist included in Artprice Top-500
Posting very strong growth in 2017, the Art Market has entered a new era
- Fine Art auction turnover reached $14.9 billion for the full-year 2017 Global turnover increased +20% versus the previous year. Worldwide, 502,900 artworks were sold publicly in 2017 (+3%). with an overall unsold rate was 34% (vs. 36% in 2016).
- Looking at it in a global view, we can notice how China remains the world’s top marketplace with $5.1 billion in turnover ( 34.2% of global total), while the United States ranks second with $4.9 billion.
- The world’s top 5 marketplaces all posted turnover growth: China +7%, USA +42%, UK +18%, France +35%, Germany +12%. France with a consistentt growth in 2017 (now in 4th place) accounted for 5.3% of global turnover with $784 million, ahead of Germany’s $256 million, but still a long way behind thethree leading marketplaces
- Very interesting to notice this substantial growth in 2017 in French art market (+%35), even if it was essentially generated by the Anglo-Saxon auction firms, Christie’s and Sotheby’s, which posted +58% and +35% growth respectively in Paris,and they now account almost over half of total French auction sales (54% vs 46% in 2016). But, which was the cause of this sudden growth in the French Market? France’s share of the global Fine Art auction market was over 60% in the 1970s and fell back to a dangerously low level of less than 4% in 2016: aware of this worrying reality, the sector’s professionals via the Syndicat des Maisons de Ventes (SYMEV), have been sounding the alarm over the past year… and, it would seem, they have been heard.The French authorities are working towards a complete overhaul of the much-contested and obsolete regulatory framework that governs public auction sales in France. The Conseil des Ventes Volontaires (CVV) –France’s auction market oversight authority– will apparently become an agency of self-regulation, closer to the realities of the market and more in tune with the digital and global issues that have transformed the sector. ( We might should take our “neighbor” as a model to try a Italian market repositioning of our turn? )
- Looking at at the Auction house results: Christie’s confirmed itself as the world’s leading auction house with a total of $4.4 billion ahead of Sotheby’s with 3.4 billion. In China, Poly Auction ($1 billion) beat China Guardian ($815 million) Phillips took 5th place in 2017 with a turnover total of $471 million. In Europe, the two non-Anglo-Saxon leaders are the Austrian firm Dorotheum ($78 million) and the French firm Artcurial ($76 million).
By the way, what the Artprice report mainly confirm is that the art market has now a great moment of particular stability and confidence, providing an average annual return of between 5.5% and + 8.3% for repeated sales.
In fact, despite a generally lacklustre global economy, the art market forces have boosted demand for artworks worldwide with the global auction turnover up +20% in 2017, generating a very impressive total of $14.9 billion.
Also following to general financial market volatility and economic uncertainty, this has create a growing interest for art investments, as a great alternative to other financial investments. This new awareness of the sound logic of investing in art, along with other motives such as speculative buying and collecting art as a passion, can assure a great recovery of the market, as well as a steady solid growth.
In particular, all this financialization of the market then have also coincided with an intense level of demand for big-name (most secure-investments) masterpieces. Indeed, the latest spectacular all-time Fine Art auction record at $450 million for Leonardo da Vinci’s Salvator Mundi represented the beginning of a new era for the Art Market in which the next big milestone will be the $1 billion threshold. In the meantime, we are bound to see results between $179 million and $450 million in 2018, as those works are the ones which ensure a low-risk and highest revenue investment.
Therefore, the art market confirms itself as a strategic market,which over the last 18 years it has outperformed most of the world’s principal financial markets by a considerable margin. Considering the macro and micro-economic data, the last 18 years have confirmed the Art Market as a refuge against economic and financial turbulence, generating substantial and recurring returns.
So, this is definitely now a market to invest in, as an efficient, historical and global market whose ability to withstand economic and geopolitical crises.
Artprice Top-500 Artists: Which are the Italians names?
Artprice’s 2017 global Top 500 index contains 231 European artists, 162 Asians and 82 North American. However the supremacy of Chinese market is evident also from this artist market ranking : the Top 10 includes 4 Chinese artists (vs 3 Europeans and 3 Americans. Chinese artists represent 32.4% of the total number compared to just 16.4% for American artists. The rest are Europeans (46.2%) and other nationalities (5%) essentially Latin Americans and South-West Asians.
But, which are the Italian artist names ?
Obviously, in the first position we have Leonardo Da Vinci , with the unique masterpieces Salvator Mundi. (1°position)
It is then followed by:
Lucio Fontana (28°, 215 lots on sale and total turnover $77.491.826),Francesco Guardi (43°, 17 lots, $ 43.885.153 turnover), Amedeo Modigliani (64°, 39 lots$32.252.584 turn), Alberto Burri ( 78°, 41 lots, turnover $25.853.036), Alighieri Boetti (119°, 148 lots, total turnover $16.313.266), Michelangelo Pistoletto (132°, 104 lots and general turnover $14.732.008), Enrico Castellani (149°, 60lots, $10.272.245), Rembrandt Bugatti (161°, 3 lots, $11.981.066), Giorgio Morandi (208°, 54 lots, $8.824.899), Marino Marini (245°, 171 lots, $7.493.884), Bernardo Bellotto (271°, 9 lots, $6.522.417), G.Domenico Tiepolo (298°, 50 lots, $ 5.870.768), Piero Manzoni ( 322°, 28 lots, $ 5.189.093), Antonio Canova (325°, 3 lots, $5.139,545), Agostino Bonalumi(341°, 87 lots, $4.764.903) , Piero Dorazio (355°, 261lots and $ 4.482.090), Arnaldo Pomodoro (361°, 89 lots, $4.397.116), Giovanni Antonio Canal (375°, 22 lots, $4.223.650), Gino SEVERINI (377°, 60 lots, $ 4,168,898), G.Battista Tiepolo (394°, 29 lots, $3.877.720), Maurizio Cattelan (422°, 83 lots , $3.507.660); Carlo SCARPA (452°, 191 lots, $3,210,695)