Global Post reports on some numbers released by Artprice.com covering the Contemporary art market from June 2012 to June 2013 where the French auction price database saw a 15% rise in sales of Contemporary art over the previous year and topping the all-time high of 2007-2008:
Artprice calculated the total value of such works sold in 2012-13 at 1.047 billion euros ($1.4 billion), surpassing the previous year’s sales by 140 million euros as well as the previous record of 979 million euros, set in 2007-08. […]
Contemporary art still represents only 13 percent of the global art market but its significance is no longer in doubt: only ten years ago the sector’s sales totalled just 75 million euros.
The growth in the value of sales over the last year was not a result of more works coming to market: the total of around 45,000 items was stable.
Sales of Less Elitist Contemporary Art Soar (Global Post)
More from Art Market Monitor
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