March 7, 2013
For this study of the global art market in 2012, Artprice has formed an alliance with Artron, the leading information service on the art market in
region, in order to provide the best possible overview of the art auction market.
For years, Artprice has taken the utmost interest in collecting the data of the Asian art market and more especially the Chinese market. However, Artprice was missing a key element: the cultural and sociologic analysis that key actor Art Market Monitor of Artron (AMMA) only could provide, according to
, the founder and CEO of Artprice. With the art market now bipolar, entering into a dialogue between East and West has enabled us to come to an unprecedented cross-cultural analysis of the market.
In fact, we are analysing a bipolar art market that has grown in
and the West and at different speeds in different cultural terrains and according to different standards. In comparison with 2011 figures, released by Artprice in its annual report, those of 2012, co-released by Artprice and Artron, show an increase by 6.1%.
There has of course been a globalisation effect due to the dematerialisation of the art market through the Internet and the nomadic nature of collectors. And of course it is clear that bridges have been built between East and West and that the creation, supply and demand of art sometimes overlap at certain points. But we cannot say that art has become totally homogeneous. On the contrary, the art market exacerbates cultural differences by reflecting the gamut of artistic choices. Chinese collectors are not inclined to buy a Western piece of art that they find is too far removed from their cultural parameters. Instead, they prefer traditional styles, ancient calligraphy and, more recently, contemporary "experimental" ink art. Likewise, Western collectors mainly buy the works of artists who speak their language, including some Asian artists who have assimilated Western art history.