Image: www.artlisting.com
While we did not get to attend TEFAF this year, we have been watching the fair very closely. Today was the final day of the fair in Holland, where almost $2 billion of works were on display. So what are the experts saying about the market this year at TEFAF?
The general tenor was very positive. Many sales occurred during the first few days of the fair, with many of the 274 dealers extremely pleased. As Town and Country wrote in the April 2014 Magazine, TEFAF is the only show in the world where you may immerse yourself in material culture, comprised of not only blue chip contemporary and modern art, but also old masters works and antiques.
The contemporary and modern art markets continue to soar. According to the Art Newspaper 75% of the art market is made up of sales in the contemporary and modern space. Unfortunately, the market growth for the majority of TEFAF dealers was not as rosy. The old masters market has shrunk 7% in 2013. Old masters dealer David Koetser said in the Art Newspaper, “you can get a Rubens for 3 to 4 million pounds, but you would need to add a zero to that for a Francis Bacon.” The antiques market is in a similar boat with old masters. The middle market is really suffering. The good news in all of this… it is a fabulous time to snatch up antiques and fine old masters works!
To read more visit The Art Newspaper
Image http://www.nicoladangelo.net/2013/03/tefaf-museo-poratta-di-mani/