TEFAF Report

Sixty-four percent of Chinese art collectors bought Western European modern and contemporary art in the past five years according to a survey conducted for the TEFAF Art Market Report which was presented at the fair as the doors opened for the second preview day.

Nearly 90% of art and antiques dealers want easier ways to borrow money to fund purchases and nearly a third believe the lack of available lending hampers growth, according to a recent report.

The global art market grew by 12% in 2017 with the expansion driven by high-end sales as China overtook the UK as the second largest market, according to Dr Clare McAndrew’s latest report.

The annual TEFAF art market report has been scrapped in favour of a number of smaller, focused reports, leaving Clare McAndrew’s Art Basel report as the sole market-wide survey.

More than $3.1bn of art, antiques and collectables sell online each year but around a fifth of dealers still have no plans to begin selling online, according to a recent report.

The auction market weakened in 2016, as sales of art and antiques via dealers grew, according to the latest art market report.

The latest TEFAF Art Market Report which was unveiled today showed private sales of art and antiques rose over 2016 while auction sales declined.

TEFAF have said they still will maintain an annual art market report despite losing the services of Dr Clare McAndrew who is joining up with Art Basel.

Economist and author of the annual TEFAF Art Market Report Clare McAndrew has left TEFAF to join with Art Basel, it has been announced.

The global market for art and antiques may have dropped by seven per cent in sales by value last year, but this is “not a signal that the bubble has burst”, the art market’s leading economist told TEFAF 2016 delegates this morning.

Global art sales fell during 2015 with the most significant a decline coming in the Chinese market.

COMMENT: The TEFAF Report shows that the art market has fully recovered since the 2008 financial crash, but still faces a number of challenges, such as late or non-payment.

Post-War and Contemporary art accounts for almost half of total spend at auction

Showing up at TEFAF Maastricht in the southern Netherlands with a stand cobbled together from stale, lacklustre stock is tantamount to professional suicide, the sort of nightmare that has dealers waking up in a cold sweat.