Sales in the art market fell by 7% in 2015 to 57,886,000 – Yahoo Finance Spain

MADRID, 9 (EUROPA PRESS)

Sales in the art market have fallen by 7% in 2015, from the 68,200 million dollars in 2014 to 63.800 million (57.886 million euros), according to the annual report of the economist Clare McAndrew for Art Fair TEFAF.

the report takes into account sales at public auction and also performs an online survey of about 6,000 dealers worldwide, achieving one of the most reliable radiographs of this highly opaque sector. Until this year, the document threw the figures in euros, although 2015 has chosen dollars being the currency most commonly used within the art market.

According to the report, the most popular works they are the outputs of the war, but also includes modern and contemporary art, as stated in the art newspaper Europa Press newspaper. In addition, the market of old European masters registered a moderate increase of 4%

The art market is polarized by the great works because the pieces were sold for over a million dollars. – among them Warhol or Bacon– represent 57% of the value of auction sales during the year, but only account for 1% of total transactions.

United States continues to lead this market sales, thanks to the increase of 4% over the previous year, to 27,300 million dollars. Second place is situated UK (down 9% to 13,500 million dollars) and low China to the third position (down 23% market share and 11,800 million).

McAndrew has said that these figures, coming from a period of growth, do not have to overtake a prolonged recession in the art market and it is still “too early” to know how to work 2016. “the main reason for there to be a negative growth is that the higher a market, the more difficult it is to keep growing so maintained, “he added

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