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PARIS, Nov. 17, 2020, /PRNewswire=KYODO JBN/--

Artprice's quarterly Global Art Market Index normally shows seasonal fluctuations

and, in the longer run, has shown a slight contraction since 2016. In 2020, despite

the health crisis, the trend has continued unperturbed without any visible drop.

Artprice's latest updated global art price indices (segmented by category,

period and country) are available free of charge at:

https://imgpublic.artprice.com/pdf/agi.xls?ts=2020-11-17 10:19:15 

Don't hesitate to contact our Econometrics Department for your requirements

regarding statistics and personalized studies: econometrics@artprice.com

We would expect to see some sort of latent price correction, but it will

probably not become visible until after a return to 'normal' trading. In times

of crisis, the Art Market slows down its supply by raising the qualitative

selectivity of lots offered to avoid disappointments and maintain price levels.

This year, the lockdowns took effect before auction houses had time to react,

forcing an abrupt halt to transactions and then subsequently slowing their recovery.

"The Art Market has its own defense mechanisms", says thierry Ehrmann,

President and Founder of Artmarket.com and its Artprice department. "The real

price impact of the health crisis will not be fully visible until the auction

market returns to a normal volume of trade (500,000 lots sold at auctions per

year) and, above all, until private sales have successfully established enough

new channels to offset the absence of major fairs and the closure of so many

galleries. For the time being, we are pleased to note that the secondary art

market is finding the necessary resources in terms of the numbers of lots offered,

technical solutions and financial liquidity to ensure a decent level of activity."

Artprice calculates its Global Art Market Indices on the basis of the results

obtained at public sales exclusively. However, this segment of the market

appears to have adapted more quicky and successfully to lockdown measures: from

the beginning of the year to the end of October, global art auction turnover

contracted by only -25% versus FY 2019 with the number of lots sold falling

only -16%. Auction houses have therefore managed to continue with the bulk of

their operations, which is not the case for lots of galleries and art fairs.

Several auction records have also proved that art market prices have by no

means been systematically undermined. On the contrary, they have remained

relatively robust this year. The sale of Giorgio de Chirico's painting Il pomeriggio

di Arianna (1913) for $15.9 million at Sotheby's in New York on 29 October 2020

illustrates a market still keen to acquire masterpieces. The sale of Boticelli's Young

Man Holding a Roundel has been postponed  until January. Auction houses may be

delaying some sales, but they are ensuring the continuity of transactions.

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Artmarket is a global player in the Art Market with, among other structures,

its Artprice department, world leader in the accumulation, management and

exploitation of historical and current art market information in databanks

containing over 30 million indices and auction results, covering more than

740,000 artists.

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in the world: no less than 180 million digital images of photographs or engraved

reproductions of artworks from 1700 to the present day, commented by our art historians.

Artmarket with its Artprice department accumulates data on a permanent basis

from 6300 Auction Houses and produces key Art Market information for the main

press and media agencies (7,200 publications). Its 4.5 million 'members log in'

users have access to ads posted by other members, a network that today

represents the leading Global Standardized Marketplace(R) to buy and sell

artworks at a fixed or bid price (auctions regulated by paragraphs 2 and 3 of

Article L 321.3 of France's Commercial Code).

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"Innovative Company" by the Public Investment Bank (BPI) (for the second time

in November 2018 for a new period of 3 years) which is supporting the company

in its project to consolidate its position as a global player in the market art.

Artprice by Artmarket's 2019 Global Art Market Report published in February 2020 :

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SOURCE: Artmarket.com