Western art continues to show signs of recovery

According to the "Chinese Art Auction Market Survey Report (Spring of 2013)" recently published by the well-known art market monitoring center, in the first half of 2013, the western art market was sustained by the economic recovery and strong art consumption demand. In terms of recovery, both contemporary art and modernism and impressionism have achieved continuous growth for three years. After the leaping growth of the contemporary art sector in 2012, its growth has continued, further consolidating its leading position in the auction market. The Modernist and Impressionist groups changed their trend last year and completed a magnificent turn with a high turnover rate of more than 90%.

For the reasons behind the steady growth of the Western art market, analysts basically attribute it to two points: First, the return rate of gold production. The general sluggishness in recent years has led investors to shift asset allocation to other types, and the low correlation between art investment and gold production has made it a good asset for effective risk reduction. Another reason is that the wealthy emerging economies have increased their interest in Western art, including Russia, the Middle East, and China. In early March 2013, a new art fair, Art13, appeared in London, England. Its highlight was that it attracted a large number of galleries from emerging economies. It can be seen that the purchasing power of emerging economies allowed the Western art community to The continuous development of the industry is full of confidence.