Art Market Monitor

Global Coverage ~ Unique Analysis

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

Fine Art Fund: 10-yr Art Boom Coming

February 8, 2013 by Marion Maneker

“Investible Art Market” Is 3k Pictures Sold Yearly; We Buy 100

 

Philip Hoffman on CNBC WEX

Philip Hoffman claims Qatar are buying $2.5bn in art each year which accounts for a quarter of the $10bn investible art market, according to his calculations. He sees Abu Dhabi and soon, Saudi Arabia, close behind with this buying setting up a 10-year art boom:

That influx is being driven by the Middle East in particular, as vast museums spring up in Qatar and Abu Dhabi to create demand in areas which previously made up just a small part of the total market. Investors in these countries now have the finances to satisfy this demand and as a result their share of the market has increased exponentially.

“Qatar are buying about $2.5 billion of a $10 billion market … for their museum. Abu Dhabi are looking next, they’re building a huge museum. Saudi will probably be next”.

Click on the image to see the CNBC WEX clip.

More from Art Market Monitor

  • Ritchies Forced into BankruptcyRitchies Forced into Bankruptcy
  • Emily Carr Under Painting Found at MuseumEmily Carr Under Painting Found at Museum
  • How Did Warhol’s Farrah Fawcetts Get to Be Worth $30m?How Did Warhol’s Farrah Fawcetts Get to Be Worth $30m?
  • Final JuddFinal Judd
  • Low Turnout for Russian Sale Blamed on VolcanoLow Turnout for Russian Sale Blamed on Volcano
  • Christie’s Strong Amsterdam Contemporary Sales Validate VenueChristie’s Strong Amsterdam Contemporary Sales Validate Venue

Filed Under: Art Funds

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
 

Loading Comments...