Contemporary Art Market
To find the number of worldwide contemporary art collectors. This figure will include mature collectors as well as emerging ones. The information will be used to evaluate the size of the market for a product.
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
Summary of Findings
After conducting preliminary research, we did not find any publicly available information about the number of collectors worldwide. However, it is possible to estimate this number by using proxies such as the total size of the contemporary art market and the average spending per collector, using surveys and research.
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