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This is ArtTactic’s monthly art market newsletter. Rawfacts is about the factual aspect of the art market, and includes art market indicators, survey results, rankings, auction analysis, relative value opportunities, emerging market watch and a number of art investment related topics.
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Rawfacts June 2009 Issue 09-06-2009 |
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| Click Here to read the full pdf newsletter (Rawfacts Subscription Required) |
| The art market is starting to show signs of green shoots. Hong Kong auctions in May came in above expectations, increasing the possibility of a swifter recovery than initially anticipated. This newsletter looks at the upcoming Russian sales in London and value opportunities in Pavel Pepperstein's market. |
OpinonThe Chinese art market could be first out of the downturn: It looks like the Chinese art market could be about to regain some of the lost confidence too. After a dismal auction season in Hong Kong in November 2008, there were clear signs of recovery in the recent round of Chinese auctions in Hong Kong in May 2009. |
Market SentimentMedia sentiment remains in negative territory: The negative media sentiment towards the art market has continued during the last two months. The ArtTactic Media Indicator has fallen 25.7%, from 35 to 26 – since our last reading in March 2009 (see illustration on the right). This indicates that the number of negative reports outweighed the positive ones, a further sign that journalists and art market commentators maintain a skeptical stance towards the art market and the prospects of recovery. |
Auction AnalysisRussian art sales adjust to the downturn, but might not be enough: On 9th June, Sotheby’s hosted the third edition of its annual London sale of Contemporary Russian art. The category, which was introduced in February 2007, struggled to keep afloat with only 41 lots sold, out of the 108 on offer. The sale raised a meagre £726,400, less than half of the low estimate of £1,725,900. Today’s total was 78% less than the total value raised in March 2008. |
Relative ValuePavel Pepperstein: Between 2000 and 2004, Pepperstein climbed more than 2,300 places in the Artfacts.net Career ranking. In 2009, on the back of his participation in the Venice Biennale, Pepperstein’s ranking has improved a further 380 places and is now approaching the Top 1000 artist ranking. |
Emerging MarketsThe Russian Contemporary Art Market: Falling oil prices, stock market meltdown and a gloomy economic forecast resulted in a significant drop in the Russian art market in November 2008. However, since then, the Russian stock market has recovered some of the losses and the oil price is on the rise. Could the Russian art market soon be recovering? |
Art InvestmentsArt Investment Conference: The London Business School organised its 3rd annual Art Investment Conference on the 29th May 2009. A broad range of speakers were invited to talk discuss the impact of the current financial crisis on the global art markets, rebuilding investor confidence and whether the crisis signals a return to sound art investment. |
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Rawfacts Newsletter Archive |
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May 2009 Issue - 12-05-2009 |
| New York contemporary auctions this week will give the art market an indication of how well it is coping in the downturn. Mixed results from the Modern and Impressionist sales last... |
| View a summary of this Newsletter |
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April 2009 Issue - 06-04-2009 |
| The art market environment continues to be very challenging. The Rawfacts April 2009 issue, includes market analysis of the current Media Sentiment, Southeast Asian Auctions in Hong Kong, Relative... |
| View a summary of this Newsletter |
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March 2009 Issue - 05-03-2009 |
| The Yves Saint Laurent sale sent a re-assuring signal to the market, and shows that there are still buyers in the market who are willing, and have the ability to put significant amounts of money... |
| View a summary of this Newsletter |
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February 2009 Issue - 02-02-2009 |
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This month’s contemporary auctions reflect the new reality. The market has shifted from a seller’s to a buyer’s market, and the auction houses have been toning down the sales so... |
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December 2008 - 11-12-2008 |
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The auction houses’ sudden fall from grace, will force a new order within the contemporary art market. The latest results from contemporary... |
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November 2008 - 07-11-2008 |
| After half a decade of unprecedented growth, the art market has been brought back to earth. Recent auction results from London’s contemporary auctions last month, to the current Modern &... |
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September/October 2008 - 24-09-2008 |
| After a two months summer holiday, the art market started on a high note with the success of the Damien Hirst sale at Sotheby's in London. The lower value mid-season sales in... |
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July/August 2008 Issue - 25-07-2008 |
| So far, only a handful of names have been associated with recent record purchases. Judging by the bidding patterns, one has to question how deep the pool is at the high end. Rawfacts takes a closer... |
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June 2008 Issue - 11-06-2008 |
| The contemporary art market seem to defy gravity, and the May auctions performed generally in line with expectations. One thing is clear, the art market has polarised around the top-end, which... |
| View a summary of this Newsletter |
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May 2008 Issue - 08-05-2008 |
| The art market is about to face a new test next week, when we are heading into to main contemporary sales in New York. Sales which are set to break all previous records, but can the art market... |
| View a summary of this Newsletter |
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