Art & Exhibitions
World Art Market Passes €51 Billion Says 2015 TEFAF Art Market Report
Study finds art market grossed €51 Billion in 2014, the highest total ever.
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Study finds art market grossed €51 Billion in 2014, the highest total ever.
Eileen Kinsella
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Each year the art world eagerly awaits and then carefully parses the TEFAF Art Market Report, compiled by Dr. Clare McAndrew of Arts Economics and timed to coincide with the opening of the eponymous art fair in Maastricht, one of the most glamorous on the annual fair circuit (see Simon de Pury on Why TEFAF Really Matters and the Future of the Art World).
Given that the art market is so fragmented between hundreds of auction houses and galleries around the world (see artnet News’ preview about what top dealers are bringing to TEFAF), all of the art world—art market observers, economists, dealers, and art experts—rely heavily on McAndrew’s report since it is widely considered the only source for comprehensive data tracking worldwide auction sales, transactions at art fairs all around the world, and shifts in regional markets and online sales. (Cornell DeWitt recently interviewed McAndrew about how she prepares the TEFAF Art Market Report.)
artnet, whose analytics and data-gathering division is a key supplier of information for the report, got a sneak peek at this year’s edition.
Clare McAndrew speaking at the ArtFi conference in Berlin
Photo: Courtesy ArtFi
Here are the key findings everyone will soon be talking about:
To find out about Events at TEFAF, see artnet’s Events page.