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Artprice: the 45th Edition of the Fiac! Opens in a General Climate of OptimismPARIS, October 18, 2018 /PRNewswire/ -- The 45th edition of the FIAC opens on Wednesday 17 October in a general climate of optimism. Artprice's 2018 Contemporary Art Market Report reveals growth on a planetary scale, which the International Contemporary Art Fair in Paris and its numerous off shows are hoping will translate into buoyant sales: Y-o-Y stability for Contemporary Art Market Global auction turnover rose +19% to a total of $1.9 billion (Logo: https://mma.prnewswire.com/media/644091/Artprice_Logo.jpg ) Artprice's 2018 Contemporary Art Market Report is available free of charge at The Global Contemporary Art Market has posted exponential growth over the past 18 years (2017/18 vs. 2000/01) Paris to put France back on the world stage According to Thierry Ehrmann, founder and CEO of Artprice, Paris is looking for a new lease of life. The City of Light wants to take full of advantage of its prestige and bring back buyers from around the world… it wants to recapture the high-end market. This ambition requires profound change and deep market restructuring, a process that has already begun. The future of Paris is today far more dependent on the FIAC and on the performances of the major Anglo-Saxon auction houses than on its traditional structures like Drouot and the Salon des Antiquaires. All of the market's key 'makers' at the Grand Palais The FIAC is an opportunity for all Contemporary Art lovers to see the world's most prestigious galleries gathered in Paris. For the big galleries, it's an opportunity to take part in a particularly selective meeting in one of the world's most majestic venues: the nave of the Grand Palais, where the Salon des Refusés was historically held, and which nowadays also hosts Paris fashion week. The major galleries who deserted the FIAC usually come back sooner or later; this year sees the return of the giant Hauser & Wirth, New York's Canada and Paul Kasmin, the Belgian gallery Rodolphe Janssen (among others). But booths are expensive in the Grand Palais and the quality of the galleries is extremely high. Between those returning and those making their first appearance, the actual gallery turnover rate is only 16%, i.e. less than one booth in six. If the FIAC's international offer has legitimised the fair on the international circuit, it now resembles other major fairs like Art Basel, the Armory Show and especially the Frieze, organized just tw weeks earlier on the other side of the Channel (only 2h on the Eurostar). Moreover, a third of the French galleries present at the FIAC were also present at the Frieze... so in the end, the FIAC's French specificity is relatively small. In fact, one of the Parisian fair's principal attractions is probably the exceptional, majestic setting offered by the Grand Palais. However, this superb venue will again be closed for works between 2021 and 2023, so it does rather look as though the FIAC will have to adapt its strategy in order to maintain its influence and ensure that collectors visit the temporary structure that will be installed in the Champ-de-Mars under the Eiffel Tower during the Grand Palais' closure. Lots of auction records during Frieze This year again Christie's, Sotheby's and Artcurial (the top three French auction houses) are organizing their most important sales of the year in Paris during the FIAC. Others, including Leclere and Cornette de Saint Cyr, are waiting till the end of the event, but will be active as of Monday 22 October. The major houses hope the spillover from the Paris FIAC will be as beneficial as that from the Frieze on London sales earlier in the month. Banksy's self-destructing Girl with Balloon (2006) attracted a lot of attention… but there were lots of other memorable results during the week, with three of the autumn's top ten global auction records, so far. Among these, Jenny Saville's Propped (1992) - a historical piece from the Young British Artists movement that was part of the Sensation exhibition in 1997 - fetched $12.4 million, a record for a living female artist, overtaking Cady Noland who held that record for three years after her Bluewald (1989) sold for $9.8 million at Christie's New York on 11 May 2015. Top 10 auction records a (September - October 2018) Artist - Work - Price - Sale 1 Zao Wou-Ki (1921-2013) - June-October 1985 - $65.204.489 - 30-09-2018 Sotheby's Hong Kong The Art Market nevertheless showed some signs of caution in London, particularly at Christie's 4 October sale where two star lots, Jeff Koons' Cracked Egg (Blue) (1994-2006) and Gerhard Richter's Schädel (1983) failed to sell against estimates exceeding $10 million. However, overall, the initial results of the autumn season are extremely positive, often adding value, occasionally showing restraint... proving that the high-end market is capable of selecting the best pieces and of curbing price growth even for the most fashionable Contemporary artists. The Paris major auction sales will therefore be held in a particularly favourable context. In addition to the annual sessions of 20th Century Art, the sale of the collections of Oscar Mairlot and Nathalie Seroussi at Sotheby's and of Benedicte Pesle at Christie's could well share the spotlight with the FIAC. thierry Ehrmann : Artprice et Artron donnent naissance au Media Mogul de l'Art About Artprice: Artprice is the global leader in art price and art index databanks. It has over 30 million indices and auction results covering more than 700,000 artists. Artprice Images(R) gives unlimited access to the largest Art Market resource in the world: a library of 126 million images or prints of artworks from the year 1700 to the present day, along with comments by Artprice's art historians. Artprice permanently enriches its databanks with information from 6,300 auctioneers and it publishes a constant flow of art market trends for the world's principal news agencies and approximately 7,200 international press publications. For its 4,500,000 members, Artprice gives access to the world's leading Standardised Marketplace for buying and selling art. Artprice is preparing its blockchain for the Art Market. It is BPI-labelled (scientific national French label)Artprice's Global Art Market Annual Report for 2017 published last March 2018: https://www.artprice.com/artprice-reports/the-art-market-in-2017 Artprice's Contemporary Art Market Annual Report for 2017 - free access at: https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2017 Artprice's press releases: Artmarket News: http://artmarketinsight.wordpress.com/ Discover the Alchemy and the universe of Artprice http://web.artprice.com/video, which headquarters are the famous Museum of Contemporary Art, the Abode of Chaos: The Contemporary Art Museum The Abode of Chaos on Facebook: https://www.facebook.com/la.demeure.du.chaos.theabodeofchaos999 Contact: [email protected] SOURCE Artprice.com |