TEFAF Art Market Report 2013 - The Global Art Market,with a focus on China and Brazil prepared by Dr. Clare Mc Andrew
Text copied from the Summary of Principal Findings of the study, p. 13, to continue reading, click on the link below to download the Summary of Principal Findings:
"• Slowing economic growth and continuing uncertainty in the global economy filtered down to the art market in 2012 with global sales contracting by 7% to €43.0 billion.
• A key factor in the decline was a slowdown in the Chinese market, with sales falling 24% to €10.6 billion. However, counterbalancing this, the US experienced an uplift of 5% year-on-year to €14.2 billion.
• In 2012, the global reshuffle of market share continued with the US regaining its premier position with a share of 33%, while China dropped to 25%. The UK remained in third place with 23%.
• The volume of transactions in the global art market also decreased over 2012, falling by just under 4% to 35.5 million, down nearly 30% on the boom year of 2007.
• The share of the value of the EU as a whole was fairly stagnant at 36%, and aggregate sales were down 3% on 2011 to €15.8 billion.
• Economic dynamics and political uncertainties have produced volatility in many asset markets with a “flight to safety” and..."