On the eve of the Frieze Fair and auctions, Arttactic releases its confidence poll which has turned negative in the face of Europe’s banking crisis and the attendant economic confusion it might cause. Even with that negativity, Arttactic still sees strength in the sector of the art market used as an alternate store of value:

The top end of the art market perceived as ‘store of value’: Although the general art market has turned negative towards the 6 month outlook for the contemporary art market, the confidence at the top end of the contemporary art market (works valued at $1 million or above) remains strongly positive. The $500,000 – $1,000,000 price range have seen confidence dropping 35% since June 2011, whilst the mid-range market of $100,000 – $500,000, experienced a 67% drop in confidence.

Arttactic Confidence Report (Arttactic)