News

Tefaf focuses on online market in addendum to annual art market report

Findings detail the supply side of the digital sales equation, point toward hybrid models
by SARAH P. HANSON  |  29 June 2017
The Art Newspaper

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The size of the online market depends on the definition and price range of artworks, Tefaf's addendum report finds

The European Fine Art Fair (TEFAF) in Maastricht today (29 June) released its Art Market Report: Online Focus, a supplement to the annual Art Market Report released in March.

Her findings mostly confirm the most noticeable trends, namely that large auctioneers who have embraced their digital platforms—Heritage, Christie’s, and Sotheby’s—claim the largest share of an estimated $3.1b market (which the Hiscox Online Art Sales Report puts it at $3.75b; Art Basel’s The Art Market 2017 report, $4.9b). Pownall’s report further qualifies that of the $3.1b, fine art and antiques account for only $2.6b (the rest being other collectibles, automobiles, wine, etc).

The data is derived from “profiles of 100 companies”, 39 of which responded to a survey; a survey of more than 8,000 dealers, with a response rate of 8%; and a sample of data from 3,349 auction houses who list on Tefaf partner Invaluable. In her surveys, Pownall defined art as “objects including fine art, antiques, decorative art, collectibles, haute jewellery, photography, and design”, but the queried companies include e-tailers like Etsy and RubyLane alongside art-specific businesses.

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In the wake of a wave of closures, galleries are adapting to survive

Dealers are rethinking the bricks-and-mortar model in favour of temporary, collaborative and virtual platforms
by ANNY SHAW  |  13 July 2017
The Art Newspaper

For dealer Anthony Reynolds, the turning point came when the lease on his London gallery ran out and his landlord announced he was tripling the rent. “I thought to myself, I can either find another space or I can find a different way to do this,” the gallerist says.

Reynolds chose the alternative route and, after 32 years in three successive premises, closed his permanent venue in 2015. “Essentially I abandoned the tyranny of the single space,” he explains. “You have to keep funding it and filling it, and artists have to think about how to use it. What was more interesting was to think about operating a gallery as normal, but without a fixed space.”

Representing the same 20 artists as he did before he closed, for the past two years Reynolds has been staging exhibitions in other commercial galleries, including London’s Annely Juda Fine Art, Independent Régence in Brussels, and Àngels in Barcelona. There are further plans to show in Tehran and Tokyo. The aim is to develop “collaboration between galleries rather than an alternative to galleries”, Reynolds says, noting that costs and proceeds are usually split down the middle with the hosting gallery.

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