Artmarket.com publishes the new Artprice's Report on the Contemporary Art Market, the primary growth driver with a +2,100% increase over 20 years – Canada NewsWire
Growth The Contemporary Art Market is not what it was 20 years ago. It has undergone profound structural changes, with evermore artists (from 5,400 artists to nearly 32,000 today) and evermore artworks (from 12,000 lots offered to 123,000) and it has grown and expanded geographically, from 39 to 64 countries active in auctions. It has accelerated with the fluidification of remote transactions and is now the most dynamic and profitable segment of the entire Art Market. In 20 years, the number of auction houses participating in the Contemporary Art Market has almost doubled, the number of specialized sessions has tripled, and the number of lots sold has multiplied by six.
– The Contemporary Art rush – The market’s pillars – Painting… above all
Diversity Contemporary Artists from China, Japan and Korea… from Africa and the African diasporas… from Latin America and the Middle East… are today all operating in a market that has not only opened internationally, it has opened to female artists and a whole range of alternative narratives with substantial cultural and symbolic significance. This challenge to Western hegemonic narratives of Art History has opened new horizons for thousands of artists around the world. Since the start of the 21st century, the question of diversity has been at the heart of debates, and at the root of major developments within the Art Market.
– A new landscape – « No Man’s Land » – Black (also) matters (in art)
Valuation The Contemporary Art Market is a market under the influence of a number of different factors including passion for art, soft-power ambitions, financial speculation, fashion and of course nowadays, the massive influence of the digital sphere in terms of marketing, coolhunting etc. Today social networks (the new influencers), pop stars, luxury and streetwear brands play an active role in the popularization of artists. They contribute to the orientation of tastes, just as art critics used to do. Online presences have played a vital role in countering the impacts of the Covid crisis, and have proved absolutely essential for a number of major market players. In reality, the Contemporary Art Market has just passed an important milestone in 2020, a milestone that represents the true beginning of its digital revolution.
– In search of novelty – Multiple choice… – Digital agility
This extraordinary progression is driven by the passions that Contemporary Art elicits, but it is also based on the confidence that it has won. Nowadays, collectors no longer necessarily prefer work by dead artists, and they allow themselves to be convinced by new techniques, new art forms and new influences by living artists. Today, at a time of unprecedented crisis, the Contemporary Art Market is still galloping forward. Indeed, it’s the segment that adapts fastest to changes and the one that lends itself best to online sales.
Contact Artprice’s Econometrics Department for your questions relating to our indices and statistics, as well as for our Personalized Study Services: [email protected]
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.
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.
Artprice Images® 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 2019 Global Art Market Report published in February 2020 :
In the pre-dawn hours of March 18, 1990, following a festive St. Patrick’s Day in Boston, two men dressed as police officers walked into the Isabella Stewart Gardner Museum and walked off with an estimated $500 million in art treasures. Despite efforts by the local police, federal agents, amateur sleuths and not a few journalists, no one has found any of the 13 works lost in the largest art theft in history, including a rare Vermeer and three precious Rembrandts.
The legacy of the heist is always apparent to museum visitors who, decades later, still confront vacant frames on the gallery walls where paintings once hung. They are kept there as a reminder of loss, museum officials say, and in the hope that the works may eventually return. Last month, Richard Abath, the night watchman who mistakenly allowed in the thieves, died at 57. He was a vital figure in an investigation that remains active, but where the trails have grown cold.
Here are five oddities that make this one of the most compelling of American crimes.
The thieves took a really strange array of stuff.
Important paintings were taken from their frames during the heist. But other items that were stolen were not nearly of the same caliber: a nondescript Chinese metal vase; a fairly ordinary bronze eagle from atop a flagpole; and five minor sketches by Degas. The thieves walked past paintings and jade figurines worth millions, including a drawing by Michelangelo, yet they spent some of their 81 minutes inside fussing to free the vase from a tricky locking mechanism.
The handcuffed guard was later scrutinized.
Abath, one of two guards on duty, was handcuffed and gagged with duct tape. He was never named a suspect. But over the years investigators continued to review his behavior because he had, against protocol, opened the museum door to the thieves. (The second guard, who is still living, was never a focus of investigative interest.) The F.B.I. monitored Abath’s assets for decades but never saw any suspicious income. He consistently said he told investigators everything he knew, and an F.B.I. polygraph he voluntarily took was deemed “inconclusive.”
The empty frames have stayed on the walls.
The museum was once Gardner’s home and she wanted to ensure that her expansive art collection was displayed in the same manner she had arranged it. She stipulated in her will that not a thing was to be removed or rearranged, or the collection should be shipped to Paris for auction, with the money going to Harvard University. Though it’s long been reported that the empty frames are left hanging to accord with that will, the museum says that is actually a long uncorrected mistake. “We have chosen to display them,” it said in a statement “because 1.) we remain confident that the works will someday return to their rightful place in the galleries; and 2.) they are a poignant reminder of the loss to the public of these unique works.”
The thieves left behind a prized Rembrandt.
A self-portrait of Rembrandt at 23 was taken down by the thieves but left leaning against a cabinet. “I really believe they probably forgot it,” said Anthony Amore, the museum’s current security chief. The work was on an oak panel, making it heavier than the paintings on canvas that they stole. But it was about the same dimensions as Govaert Flinck’s “Landscape With an Obelisk,” which was also on oak, and stolen.
The list of suspects has been a dizzying stew.
Investigators have looked at all manner of burglars and art thieves and dismissed all sorts of theories. Did Whitey Bulger steal the art to help the Irish Republican Army raise money for arms? No. Did the Mafia want a bargaining chip to help free a member from prison? Maybe. In 2015 the F.B.I. named two long-dead, Boston-area criminals, George Reissfelder and Lenny DiMuzio, as the likely bandits. They have never publicly discussed why.
Investigators still hope to recover the art. The museum upped its reward to $10 million in 2017 from $5 million in 1997 and $1 million in 1990. It has devoted several sections of its website to educating the public about the crime. It embraces publicity in the hope that someone, someday, somewhere will recognize one of the artworks and contact it.
“We have followed every lead and continue to check out new leads,” Amore said, adding, “All that matters is finding out where they are today and getting them back.”
Banksy is back with his first confirmed installation of 2024.
The anonymous British street artist posted on his Instagram account on Monday that he was behind a mural that was first spotted in Finsbury Park in London over the weekend.
In the artwork, a stenciled figure of a woman appears to have sprayed green paint over a white wall behind a pollarded tree, thus giving an optical illusion effect of foliage.
Others suggested it was a pessimistic take on the environment or a commentary on greenwashing, the tactic the United Nations defines on its website as “misleading the public to believe that a company or other entity is doing more to protect the environment than it is.”
Documentarian James Peak, the creator of the BBC’s “The Banksy Story” radio series, said the message is “clear” that “nature’s struggling and it is up to us to help it grow back.”
“When you step back, it looks like the tree is bursting to life, but in a noticeably fake and synthetic way,” he told the broadcaster. “And it’s pretty subtle for a massive tree, I’d say.”
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