Spanish Fundación Arte y Mecenazgo, whose mission is to stimulate and advance art collecting in Spain and foster it as a form of patronage (www.fundacionarteymecenazgo.org), commissioned Arts Economics to carry out a survey of the The Spanish Art Market in 2012. This was the first study of its kind to comprehensively examine the size, structure and key trends in the Spanish art market. Despite its strong art historic significance, the modern Spanish art market is small, with sales of just under €300 million in 2011. The fine art sectors dominate sales and there is a vibrant and active Contemporary market. However the study found that generally, the most expensive works by Spanish artists are sold outside the country. The report also looked at collecting in Spain and found that despite a high number of HNWIs, the culture of collecting in Spain appeared to lag behind many other well-developed markets. This study will be updated by Arts Economics in 2014.
The report is available to download in English and Spanish here.