Art Market Research – ArtTactic Outlook 2011
Anders Petterson’s Art Tactic is a leading source of information about art market performance and confidence. In this report he surveys the global landscape from Asia to the Middle East to Latin America and, of course, the all-important London and New York Markets:
Art has been one of the best performing asset classes in 2010, and the US & European contemporary art market is up an average of 25%, against FTSE’s 11% and Dow Jones 9%, and the positive development is likely to continue into 2011. […] Now, it might be easy to dismiss this as an emerging market phenomenon – but 2011 is likely to be the year where the speculators will return to the Western markets too. Recent surges in the Warhol market, and prices, can not be entirely explained by the return of the long-term collector – hot money has been flowing in here too, and is likely to continue to do so this year.