According to the latest ArtTactic Confidence Indicator for September 2018, the overall indicator figure came in at 57, down 24% from January. The fall is despite a 27% increase in contemporary auction sales for the same period.
The findings suggest that there are “some concerns about the sustainability of the current boom, on the back of increasing economic and political uncertainty”.
But the report also noted that “despite these broader fears, the confidence readings for established and emerging contemporary artists (covered in the report) are up 9.3% and 18.9% respectively”.
The ArtTactic Art Market Confidence Indicator, launched in May 2005, samples 100 collectors, auction specialists, art dealers, advisers and analysts.
In this edition, more respondents believe that market growth will level out, with 51% agreeing with this statement compared to 34% in January 2018.
Although there appears to be higher economic uncertainty, the overall perception of risk in the art market by those responding remains unchanged at around the 10-year average of 6.4 (on the 1-10 Risk Barometer).
The full report is on ArtTactic’s website.