Artprice : The Art Market 2012 - a Dialogue Between East and West

PARIS, March 7, 2013 /PRNewswire/ --

Editorial

For this study of the global art market in 2012, Artprice has formed an alliance with Artron, the leading information service on the art market in China within the Greater Asia region, in order to provide the best possible overview of the art auction market.

For years, Artprice has taken the utmost interest in collecting the data of the Asian art market and more especially the Chinese market. However, Artprice was missing a key element: the cultural and sociologic analysis that key actor Art Market Monitor of Artron (AMMA) only could provide, according to Thierry Ehrmann, the founder and CEO of Artprice. With the art market now bipolar, entering into a dialogue between East and West has enabled us to come to an unprecedented cross-cultural analysis of the market.

In fact, we are analysing a bipolar art market that has grown in China and the West and at different speeds in different cultural terrains and according to different standards. In comparison with 2011 figures, released by Artprice in its annual report, those of 2012, co-released by Artprice and Artron, show an increase by 6.1%.

There has of course been a globalisation effect due to the dematerialisation of the art market through the Internet and the nomadic nature of collectors. And of course it is clear that bridges have been built between East and West and that the creation, supply and demand of art sometimes overlap at certain points. But we cannot say that art has become totally homogeneous. On the contrary, the art market exacerbates cultural differences by reflecting the gamut of artistic choices. Chinese collectors are not inclined to buy a Western piece of art that they find is too far removed from their cultural parameters. Instead, they prefer traditional styles, ancient calligraphy and, more recently, contemporary "experimental" ink art. Likewise, Western collectors mainly buy the works of artists who speak their language, including some Asian artists who have assimilated Western art history.

So the idea of a globalised art market should be taken with a pinch of salt. In any case, it is a little premature for Western and Chinese readers to be finding their bearings in an analysis of the global art market that is bent on combining information from East and West at all costs. In order to provide a clear and transparent analysis for our entire global readership, this year our report is made up of an introduction that covers the results of art sales around the world in 2012, followed by two distinct chapters. The first of these concentrates exclusively on the art market in the West and Artprice data, while the second focuses on art in China and Artron data. This fertile relationship between Artprice and Artron has led us both to examine our areas of overlap and divergence and to look at the way a new geopolitics is evolving in the art market of the 21st century.

thierry Ehrmann

For the past ten year, Artprice has published its exclusive annual art market report - available in 6 languages -, which is distributed to over 6,300 media organisations and international institutions every year. Based on 6.3 million auction results from 4,500 auction houses around the world, the report contains macro- and micro-economic analyses providing the keys to understanding the annual evolution of the global auction market. It discusses the major trends in the market, analysed throughout the year on the ArtMarketInsight page of our website, by the Artprice press agency and jointly by the Artprice and the Art Market Monitor of Artron Econometrics Department. To complement this objective appreciation of the art market based on a year of global auction results, Artprice and the Art Market Monitor of Artron also offer numerous original rankings such as the Top 500 artists by auction revenue and the Top 100 auction results of the year.

Download the complete document in English - PDF format (Free download)

http://imgpublic.artprice.com/pdf/the_art_market2012_online_en.pdf

Download the complete document in Chinese - PDF format (Free download)

http://imgpublic.artprice.com/pdf/the_art_market2012_online_zh.pdf

About AMMA, a subsidiary of GROUPE Artron

AMMA -Art Market Monitor of Artron- is a subsidiary of GROUPE Artron. AMMA is a research center committed to comprehensive monitoring and in-depth analysis of the Chinese Art Market. The research and advisory services are sourced from Artron's database, recognized as the largest and most credible database on the Chinese art market with more than 2.5 million artworks listed and auction results from all over China. For each artwork listed the database contains high definition images and is supplemented with information from more than 500 auction houses ever since China Guardian commenced auction activities in China in 1993. Using statistical and econometric methodology, AMMA observes the price trends of the Chinese art market as well as the specific movements regarding particular specialty markets, categories or artists. AMMA also provides data analysis, technical valuations and pricing advice. It also organizes seminars for individual and institutional customers.

About Artprice.com:

ARTPRICE has joined the prestigious SBF 120 index. The SBF 120 index is composed of the 120 largest French listed companies, including the CAC 40 companies and the country's 80 most liquid stocks.The current liquidity of the Artprice share is 3.83 million euros per day calculated over 440 trading days (amounting to a total of €1.670 billion).

Artprice is the global leader in databank on Artprices and indices with more than 27 million indices and auction results covering more than 500,000 artists. Artprice Images® offers unlimited access to the largest Art Market resource in the world, a library of 108 million images or engravings of artworks from 1700 to the present day along with comments by Artprice's art historians. Artprice permanently enriches its databanks with information from 4,500 international auction houses and auctioneers and publishes a constant flow of art market trends for the main news agencies and 6,300 international written media. For its 2.072 million members (member log in), Artprice posts standardized adverts in what is today the world's leading Standardised Marketplace® for buying and selling works of art by private contract or at auctions -regulated by French law alinéas 2 et 3 de l'article L 321.3 du code du commerce.

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SOURCE Artprice.com