Frieze saw lots of sales under £100,000 and the Royal Institute of Chartered Surveyors confirm that the lower ends of the art market are seeing significant attention from buyers who are investing, according to Management Today:
According to research by the Royal Institution of Chartered Surveyors, would-be investors are flocking to auctions to pick up works of art and antiques, in the hope of snapping up a bargain. In fact, 24% of RICS members said they’ve seen surprisingly high turnouts recently. […] Rics says this is the seventh quarter of growth it has seen – which takes us all the way back to the beginning of 2009, just after the recession started. Even Bonham’s auction house has been taken by surprise at its sudden popularity. ‘Art is clearly being seen by some as a good hedge against the unknown’, it said in a report recently. […] According to Rics, though, the biggest price rises are being seen in artworks in the £1,000 – £5,000 bracket.
Investment is Fine Art for Auctioneers (Management Today)
