Artists 2

Turnover through auction houses, July 2007 - June 2008 (Artprice source):

USA = 348M€ ; GB = 262M€ ; China = 259M€ ; France = 15M€, Italy = 10M€ ; Germany = 6M€.

For the last 20 years, the art market has grown progressively in Gret Britain.

The significant decline of France can mainly be explained by the fact that many wealthy buyers have left the country a more favourable tax environment.

Added to this are economic difficulties and extreme centralisation, with a bias toward public acquisition, which tends to block out potential private buyers. The French middle class is buying less and in the main only visits galleries and contemporary art exhibitions.

Base line price movements, 1990 - 2005


1990 : base 100
1991 : 120
1992 to 1997 : 40
1998 to mid-2001 : 60
mid-2001 : 49
2002 : 60
2003 : 65
2004 : 70
2005 : 75
2006 : 89
2007 : 125
2008 : 127
2009 (June) : 87

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