Contemporary Art Market Trends

Elvira Rafikova

UC Berkeley ExtensionMarketing Intelligence

Instructor: Kerem Tomak

Spring 2015

Peter DoigJean-Michel BasquiatJeff Koons

• Problem: Is contemporary art an investment?

• Success: Identify key market trends to help make an informed decision about investing into contemporary art collecting

Jeff Koons Ai Weiwei Adriana Varejão

Research Data Sources,Tools, And Processing

• Data Sources: artnet.com, artprice.com, hiscox.com, deloitte.com, bcg.com

• Tools: Excel, Tableau

• Data Processing: gathered data from sources, created Excel spreadsheets, created Tableau sheets and dashboards

Research Analysis And InterpretationContemporary Art Sales Grow. Old Masters, Impressionism, Modern Art Sales Decrease

Creation And Preservation of Wealth Correlates With Art Collecting

Research Analysis And Interpretation

China, USA, UK Dominate The Market.South-East Asia and Middle East are growing markets

Research Analysis And Interpretation

Contemporary Art Is Accessible And Affordable To Buy

Research Analysis And Interpretation

ConclusionsKey Contemporary Art Market Trends Identified:

• Contemporary art market grows in revenue and share

• Art has an increasing investment value

• On-line sales for contemporary art grow

• Most of contemporary art sold for less than € 5000

Farhad Moshiri Banisadr Ali Christopher Wool Wangechi Mutu William Kentridge