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Artmarket.com publishes Artprice 2020 Art Market Report highlighting a veritable paradigm shift: the pandemic imposed an unprecedented digitization of the market... that saved auction turnovers.

PARIS, March 15, 2021 /PRNewswire=KYODO JBN/ --

Our 23rd Annual Art Market Report offers a global analysis of public sales of

Fine Art – painting, sculpture, drawing, photographs, prints, installations –

between 1 January and 31 December 2020.

What was, at one point, anticipated as a 'blank year' for the Art Market,

turned out to be much more positive than expected. The cancellation of fairs,

exhibitions and all sales in March 2020 prompted fears of a complete shutdown

of the art industry. But unlike museums, which have suffered the full impact of

covid-related restrictions, the auction houses quickly found ways to preserve

the core of their activities thanks to the dematerialization via digital

technology: versus 2019, they maintained 79% of their turnover and sold a

volume of lots equivalent to 91% of the previous year's total.  

Artprice's Art Market Confidence Index in 2020

AMCI: Art Market Confidence Index

Infographic -

https://mma.prnewswire.com/media/1456109/Art_Market_Index_English_Infographic.jpg

Our 2020 Art Market Report is available free of charge, in full, and in three

languages,  both online and as a PDF file:

French: https://fr.artprice.com/artprice-reports/le-marche-de-lart-en-2020

English: https://www.artprice.com/artprice-reports/the-art-market-in-2020

Mandarin: https://zh.artprice.com/artprice-reports/zh-the-art-market-in-2020

Thierry Ehrmann, President and Founder of Artmarket.com and its Artprice

department, is pleased to announce the free publication of the 23rd Annual Art

Market Report (2020):

"The pandemic which took the world by surprise has forced Art Market

professionals to accelerate a digitization process that they had been

procrastinating for too long. Twelve months ago, this industry still showed a

certain resistance to anything related to digital culture, which resulted in a

reluctance to implement effective IT tools. In contrast to this delay, which

has left much of the art sector almost thirty years behind the rest of the

economy, Artprice has never stopped innovating and preparing the ground for the

inevitable future.

So it is with much enthusiasm – despite the situation – that our group has

supported all the key actors of the Art Market to take on a historic

challenge... to repair in just a few months (sometimes even just a few weeks)

three decades of obstinacy".

Art Market 2.0

The Art Market has adopted a new economic model and reached a new equilibrium

that the most optimistic projections were not expecting to see before 2025. It

is now much better equipped to work with contemporary ways of living and

collecting, i.e. those of the 21st century.

With this 23rd Annual Report, Artprice and its editorial partner Artron are

proud to provide a global analysis of this paradigm through a focus on the

following questions:

- How has the pandemic impacted the art market?

- How has digital technology affected the market and what will tomorrow's

market look like?

- Why has China's market resisted so well?

- How have collectors reacted?

- What types of works are most in-demand?

- Which artists have reached records despite the crisis?

- How have social-cultural upheavals – from #MeToo to Black Lives Matter –

impacted the Art Market?

The report also contains Artprice's famous Top-500 ranking of the world's most

sought-after artists and a month-by-month breakdown of the highlights of the

art market in 2020 as it struggled to meet the unprecedented challenges

prompted by the health crisis.

China in pole position

The report underscores the place China now holds on the global Art Market: that

of the most serious competitor to the United States. Although the Chinese art

market has its own codes, it is more interesting for that reason and it makes

for a particularly substantial and fascinating editorial partnership between

Artprice and Artron.

Top 10 countries by Fine Art auction turnover (change vs 2019)

1. China (Artron):                 $4,163,871,200          (+2%)

2. United States:                  $2,804,272,300         (-39%)

3. United Kingdom:              $1,552,937,500         (-30%)

4. France:                             $578,347,600            (-31%)

5. Germany:                         $298,834,000            (+11%)

6. Italy:                                 $142,404,000            (-32%)

7. Switzerland:                     $110,967,500             (+5%)

8. Japan:                              $95,366,400              (-14%)

9. Austria:                            $91,117,515                (-8%)

10. Poland:                          $89,672,059               (+1%)

Geographical breakdown of Fine Art auction turnover in 2020

Infographic -

https://mma.prnewswire.com/media/1456117/Artmarket_auction_turnover_Infographic.jpg

Looking at our other key market indicators, the Artprice100© benchmark index

has increased by +405% since 1 January 2000. In 2020, this blue-chip artists

index posted an increase of +1.8%.

Contemporary Art, both in the West and in Asia, is still the locomotive of the

Art Market, despite the pandemic context.

In sum, despite a global tragedy that is unique in social and modern economic

history, the Art Market has rebounded via digital technology, which it has

massively adopted within a record time and which has allowed the market's

turnover contraction to be limited to just -21%, which in itself – given the

circumstances – is a superb performance.

Images:

[https://imgpublic.artprice.com/img/wp/sites/11/2021/03/1-EN-AMCI-Art-Market-Con

fidence-Index.png]

[https://imgpublic.artprice.com/img/wp/sites/11/2021/03/2-EN-FINEART2020.png]

Copyright 1987-2021 thierry Ehrmann www.artprice.com - www.artmarket.com

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

regarding statistics and personalized studies: econometrics@artprice.com

- Try our services (free demo): https://www.artprice.com/demo

- Subscribe to our services: https://www.artprice.com/subscription

About Artmarket:

Artmarket.com is listed on Eurolist by Euronext Paris, SRD long only and

Euroclear: 7478 - Bloomberg: PRC - Reuters: ARTF.

Discover Artmarket and its Artprice department on video: www.artprice.com/video

Artmarket and its Artprice department was founded in 1997 by its CEO, thierry

Ehrmann. Artmarket and its Artprice department is controlled by Groupe Serveur,

created in 1987.

See certified biography in Who's who(C):  

imgpublic.artprice.com/img/wp/sites/11/2019/10/biographie_oct2019_WhosWho_thierr

yEhrmann.pdf

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

770,000 artists.

Artprice Images(R) allows unlimited access to the largest Art Market image bank

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® 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).

Artmarket with its Artprice department, has been awarded the State label

"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 2020 Global Art Market Report published in March 2021:

https://www.artprice.com/artprice-reports/the-art-market-in-2020

Index of press releases posted by Artmarket with its Artprice department:  

serveur.serveur.com/press_release/pressreleaseen.htm

Follow all the Art Market news in real time with Artmarket and its Artprice

department on Facebook and Twitter:

www.facebook.com/artpricedotcom/ (5 million followers)

twitter.com/artmarketdotcom

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Art Museum "The Abode of Chaos" (dixit The New York Times):

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L'Obs - The Museum of the Future: https://youtu.be/29LXBPJrs-o

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(4.5 million followers)

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Contact:  Thierry Ehrmann, ir@artmarket.com, Artmarket.com and its Artprice

department

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Source: Artmarket.com