Forecasts of the art market for the coming months according to the British research institute ArtTactic. The research was conducted through interviews and results from international auction houses and the data obtained seem to confirm a recovery for almost all markets. (in primis) Latin America.
LONDON: Last year was one of the best years for London primarily for post-war and contemporary art for all sales seasons (February, June and October), already recording an increase since 2011. The Evening Sales in calendar in London in February 2013 shows a slightly lower estimate than in February 2012, from £124.000.000 million to £130 million. Surely the London square presents itself as the ideal place for Asian, Middle Eastern and Russian collectors and investors.
NEW YORK: The record results in New York in November 2012 confirmed the strong confidence of post-war and contemporary art. This trend is set to continue in 2013, thus intensifying the competition between auction houses to win the highest quality works available on the market.
CHINA: The next months of 2013 will be crucial for the sales of Chinese contemporary art as the results and the interest will be able to offer us a vision of what the future market will be like, after the last one registered a real drop in buyers with a clear market slowdown. Nonetheless, a recent survey of international art collectors suggests that 43% of the market expect a "certain" recovery in 2013.
INDIA: June 2012 was the month with the least interest and transactions in the Indian art market, but 2013 should probably see an improvement in the market. The 5th India Art Fair together with the Kochi-Muziris Biennial in December 2012 seems to have brought enthusiasm and a new energy into the Indian art market, from which one can hope to see some recovery.
MIDDLE EAST: Despite the negative trend in auctions in recent years, 52% of international collectors polled by ArtTactic in January 2013 said they believe the market will rise in the next six months, against 5% who think it could decline further. Christie's and Sotheby's continue their commitment to this part of the world with art fairs such as Art Dubai and Abu Dhabi Art in order to support the primary market, it could start to register some confidence that could to a recovery, already foreseen for 2013.
LATIN AMERICA: Looking ahead, this is the region that most collectors expect to be the best in 2013, as many as 59% of respondents believe this market will grow over the next six months. Increased sales and prices are likely to encourage HNWIs in the region to start touring art, not only as a collector's item, but also as an asset class.
RUSSIA: The positive trend of auction sales is destined to continue in 2013, where 29% of the collectors interviewed by ArtTactic (January 2013) believe that the market will already rise in the first half of 2013.
