TEFAF Art Market Report 2013

TEFAF Art Market Report 2013

2 TEFAF AMR 2013TEFAF Art Market Report 2013 – The Global Art Market with a focus on China and Brazil.
This report presents an analysis of the key trends in the global art market in 2012, focusing on two contrasting emerging markets for art, China and Brazil. Slowing economic growth and continuing uncertainty in the global economy filtered down to the art market in 2012 with global sales contracting by 7% to €43 billion. A key factor in the decline was a slowdown in the Chinese market, with sales falling 24% to €10.6 billion. Despite this, in the last five years the Chinese art market has been the strongest growing in the world, and the most important of the emerging markets, both in terms of the size of its domestic sales and the international significance of its buyers. In contrast, Brazil accounts for around 1% of global sales and principal significance to the global art market has been through the buying power of its high net worth art collectors, who are growing in number.