The auctions of artwork signed a record year in 2014 to $ 15.2 billion, according to Artprice, which has just published its annual report on the global art market. Thierry Ehrmann, CEO of Artprice, laments the decline of France, whose market share fell from 60 to 3% in 50 years.
New record for the art market! Last year, the public auction of works of art generated a turnover of 15.2 billion, up 26% compared to 2013 (12.5 billion). Despite a 5% decline, China has maintained its leadership, with a turnover of 5.6 billion, ahead of the USA (+ 21% to 4.8 billion). Britain has also made a very good performance (+ 35% to 2.8 billion). And what about France? Although the 4th place, the Hexagon is far behind with $ 496 million of total sales, but it’s mostly the only market that fall (-10%) compared to 2013.
China, heavyweight art market
The ranking of the most active cities, only France appears to 6th position, while China leads the standings with 7 cities among the top 10. A hegemony that is due to the explosion of museums in the Middle Kingdom which also has the largest market of old works in the world. Chinese paintings and calligraphy thus represented 84% of sales last year in China, while the young artist Liang Hao, 32, has achieved a record auction of 954,000 dollars.
“A succession of mistakes that have penalized lasting France”
If France is the world’s first cultural destination, it is not long since the first art market. Thierry Ehrmann, the decline of France began in earnest by the refusal of Drouot to buy the largest US home sales at Parke-Bernet time. “Receiving such a messy boss Parke-Bernet, Drouot has missed the opportunity to become a world leader,” said the leader of Artprice. It finally Sotheby’s bought in 1967 the prestigious hotel of New York sales.