Information About the Contemporary Art Market

• The Contemporary Art market has grown 1,800% in 19 years and its price index rose 22% in 2018/19.
• Around 70,000 Contemporary Art pieces change hands annually at auctions around the world, which is close to the entire Art Market in the early 1990s.
• Contemporary Art prices posted an increase of +40% in H1 2019.

Different Types of Modern Art Collectors

• According to research, modern art directors can be divided into 4 types: the connoisseur, the enterprising collector, the trophy hunter, and the aesthete, each with their own characteristics.
• The connoisseurs are the intellectuals of the art market, deeply influenced by the opinions of an exclusive group of experts.
• The enterprising collectors are wide open to the new & the experimental. 
• The trophy hunters have the means to target any art piece they like and make it a "sport".
• The aesthetes are the least self-conscious and are driven by their gut instinct. 

Largest Contemporary Art Auctions

• In 2017-2018, the large majority of revenue from contemporary art auctions was generated in only 3 countries with 88%: United States, UK, and China. 
• Contemporary art auctions in the US generated $612 million, $544 million in the UK, and 480 million in China.
• Contemporary art sales at reached $7.2 billion in 2018, around half the auction sales value of the fine art market.

Collectors Demographics

• Worldwide, 57% of works owned by collectors are from living artists. 
• There is also a tendency for young collectors to own more contemporary art work.

Summary of Findings