It has been years now that the art market grows at an impressive rate. The works have been rated up to half a million dollars, by matching the great artistic value of the products with a considerable economic measurement.
But how does the financing of this market? What are the funds that operators can draw on? He explains it to usArt Dealer Finance, the study carried out by tetaph (the international art and antiques fair held every year in Maastricht) and presented on May 4 by Anders Peterson, founder of art tactic, with the comment of Tim Schneider, journalist from Artnet and founder of Gray Market.
The study was carried out by collecting the opinions of 142 operators industry (including Michael Plummer, managing director of Tetaf New York and one of the founders of Artvest, Adriano Picinati of Torcello, Global Art & Finance coordinator of Deloitte, Evan Beard of US Trusts, Andrew Danish e Nigel Glenda by Athena Art Finance, Freya Stewart of Fine Art Group) and has changed strategy by moving towards more in-depth and targeted analyzes since 2017, the year in which it was signed by Rachel Pownall, Professor of Economics and Commerce of theUniversity of Maastricht.
What stands out in the analysis is that loans and financing to operators and galleries are not as conspicuous as one would imagine in a market that has grown so much in recent years. It can be said that between 2000 and 2017 the Art Market became a real industry with a turnover that exceeded i 63 million dollars.
The point is that there are more or less favorable historical periods for art and galleries that manage to get financed more easily than others, including those impressionist, modern, post war and contemporary. These days, for example, in 2017 auction houses like la Sotheby's, Christie e Phillips recorded 50% of their turnover. Le sales therefore they represent an unpredictable variable, so it is preferable to use detheir profits or turn to private investors, instead of borrowing from banks.
From a statement in the 2017 report of Deloitte Art&Finance it emerges that half of the collectors interviewed buy for the return on the investment, and more than thirty percent buy to diversify. The same report shows that art goods are valued 1,62 trillion dollars, and they could get to 2,71 trillion in 2026.
In addition, in recent years, the High Net Worth Individuals, people with high net worth who have started to dominate and impose new rules on the market, determining its growth since 2004.
So this market is visibly growing with figures to many zeros, but still remains unpredictable, given that the value of art, as claimed Evan Beard of the Us Trustis based on beliefs.
