Premier Art Finance Artemundi Group / 2019 Premier Art Finance Artemundi Group : 201 | Page 25

New Yo rk · Lo n d o n · Mexico C ity · Ma drid
PERFORMANCE .
Artprice’s Art Market Price Index vs. S&P 500
600
500
400
300
Artprice 100º
200
Artprice Global
100
S&P 500
2015
2014
0
©Artprice, 2019
Artprice Global Price Index - Base 100 in January 1998
300
After two consecutive years
of contraction (-10% in 2015
and -23% in 2016), global
art auction turnover increased
by +20%, equivalent to a
spectacular turnaround of
+40% (absorption of the
contraction plus additional
growth).
250
200
150
100
50
0
©Artprice, 2019
VALUE VS VOLUME .
An economic recession usually leads to measures that seek to stabilize falling demand and prices, such as
lowering interest rates to facilitate and increase consumer spending. In a recessionary atmosphere stock market
prices naturally adjust downwards until demand is matched or output descends. The art market, conversely, reacts
to a recession by diminishing availability due to potential sellers of art holding on to their possessions fearing not
being able to secure fair prices. Recessions therefore lead to a contraction in the (uppermost) art market supply
and thus to the preservation of values. This is particularly true in the insulated “A+” market segment, where the
appetite of buyers remains constant, thus making top quality works very solid and liquid assets. A recession in
the mainstream economy and traditional assets may signal a seller’s opportunity in the global art market, since
there will be less competition on the sell side and undiminished interest from the affluent buy side.
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