This report commissioned by BAMF ( the British Art Market Federation) looks at the key economic, fiscal and employment benefits created by Britain’s globally competitive art market. The report presents an analysis of the UK’s art market in 2009, when it represented 29% of total global art and antique sales, and maintained its position as the second largest market worldwide with £7.7 billion in sales. The report looks at how the market supported over 60,000 knowledge-intense and gender balanced jobs in 10,000 art businesses around the country. It also stresses how dependent Britain is on cross-border trade in maintaining its competitive success, and the threats to its position in the global market, particularly in the high value Modern and Contemporary sectors,which accounted for 40% of its total value. The report looked at threats to its position such as the Artists Resale Roylaties Directive which threatened Britain’s entrepot trade and the impact a decline in that would have on revenue, fiscal contributions and employment.
This report is being updated by Arts Economics in 2014.