Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

An Auction Market on Stilts

June 13, 2012 by Marion Maneker

Artinfo’s Shane Ferro looks at sales in the so-called middle market of $100k to $1m and finds an “auction market that is resting on stilts — soaring only because of a few dozen trophy purchases.”

ARTINFO’s analysis of sales above $100,000 across five different fine art categories in our BASI database — Old Masters, Latin American art, American art, Impressionist and modern art, and contemporary art — suggests that the middle market, which we defined as sales between $100,000 and $1 million, is actually down significantly from the spring of 2011. Despite reports of the art market’s “Scream”-ing success, both mean and median prices, as well as the number of lots sold in that price range, are at or below 2010 figures after experiencing a pop in 2011.

At the high end of the market (lots above $1 million), median prices in the five categories have grown an average of 21 percent since spring of last year. Median prices for middle market lots, on the other hand, are down an average of 10.5 percent in the same period.

The real question is whether Artinfo has captured the middle market or the bottom end of the market. Yes, calling $100,000 to $1m the bottom end seems a bit much but it feels as though the middle part of the auction market is in the $1 to $5m range.

The Stagnation of the Middle Market: Beneath the High-End Hype, Art Prices Are Treading Water (Artinfo)

 

More from Art Market Monitor

  • Geneva Attempts to Shore Up Bad Art Market ReputationGeneva Attempts to Shore Up Bad Art Market Reputation
  • Elusive CupidElusive Cupid
  • Sotheby’s Will Have to Provide Details on Sales to Bouvier That Ultimately Went to RybolovlevSotheby’s Will Have to Provide Details on Sales to Bouvier That Ultimately Went to Rybolovlev
  • Private Museums Are No Longer Enough; Collectors Now Aspire to Build Art Parks.Private Museums Are No Longer Enough; Collectors Now Aspire to Build Art Parks.
  • Sotheby’s Brings ‘Pink Star’ Diamond to Hong KongSotheby’s Brings ‘Pink Star’ Diamond to Hong Kong
  • African Art Needs Its Own Ullens to Take OffAfrican Art Needs Its Own Ullens to Take Off

Filed Under: Economic Trends

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor