TEFAF Art Market Report 2015 Prepared by Dr. Clare McAndrew TEFAF ART MARKET REPORT 2015 The Global Art Market, with a focus on the US and China Prepared by Dr Clare McAndrew Arts Economics TABLE OF CONTENTS Foreword 9 3.5 Ultra-High Net Worth Individuals 130 3.6 HNWIs and their Allocation to Art and Antiques 134 Acknowledgements 11 3.7 Average Incomes and the Art Market 137 SUMMARY OF KEY FINDINGS 13 3.8 Art Buyers 145 3.9 Conclusions 149 CHAPTER 1 The Global Art Market in 2014 19 Key Findings 21 CHAPTER 4 Art Fairs 153 1.1 Art Market Overview 22 Key Findings 155 1.2 The Distribution of the Global Art and 4.1 The Emergence of Art Fairs 156 Antiques Market 24 4.2 The Regional Distribution of Art Fairs 158 1.3 Auction Sales 26 4.3 Art Fair Visitors 159 1.4 Fine Art Auction Prices 32 4.4 Exhibitor Numbers 162 COLOPHON 1.5 Dealer Sales 41 4.5 Art Fair Sales 166 1.6 The Cross-Border Trade in Art 49 CHAPTER 5 Online Sales 173 Publisher CHAPTER 2 Sectors 65 Key Findings 175 The European Fine Art Foundation (TEFAF) Key Findings 67 5.1 Introduction and Context 176 Broekwal 64, 5268 HD Helvoirt 2.1 Fine Art Sectors 68 5.2 The Development of the Online Art Market 177 The Netherlands T +31 411 64 50 90 2.2 Post War and Contemporary Art 70 5.3 The Structure of the Online Art Market 183 F +31 411 64 50 91 2.3 Modern Art 78 5.4 Website Trafc and Global Reach 194 E
[email protected] 2.4 Impressionist and Post-Impressionist 86 5.5 E-Commerce in China 204 I www.tefaf.com 2.5 Old Masters 92 5.6 Conclusions and Outlook 206 2.6 Decorative Art Sectors 101 Design & Production 2.7 20th and 21st Century Design 101 Ideebv, Maastricht, The Netherlands 2.8 Chinese Decorative Art and Antiques 109 CHAPTER 6 Economic Impact www.ideebv.com of the Art Market 213 All rights reserved.