THE ART REPORTS
I report are useful tools for every professional and art collector, a point of reflection and planning for the future
The Art Reports are the primary source of data and economic results for professionals, enthusiasts, collectors, companies or investors who wish to diversify their business portfolio.
The growing attention to economic value in the purchase of works of art has led the financial world to study, analyze in detail the art market and collectible goods, creating tools like the reports.
Drawing up a report on the art market is not an easy task, not even for the more experienced economists , because it is necessary to take into consideration multiple distinct markets, which intersect and which are in continuous evolution.
The reports dedicated to art exchanges can refer to the global market or to specific niches, and within them different segments are taking into consideration such as:
- Auction Houses
- Art Fairs
- Online Sales
- Impact on global economy
- Gender Gap
- Art Services
However rigorous, the reports cannot be considered 100% reliable due to the information asymmetry that characterizes the art market.
The goal of the reports is to clarify the market trend , based on data such as sales prices and returns , creating real Indices based on different methodologies.
The indexes have to purpose of:
- Indicate the price fluctuations of individual artists or sectors
- Recognize current and long-term market trends
- Compare the economic value of the art market with that of the stock market, bonds and real estate.
Among the reference indices, the most used and accredited one is the Mei Moses Art Index , born in 2002 thanks to the finance teachers Jianping Mei and Michael Moses and subsequently acquired by Sotheby’s in 2016. This is based on the indexing of economic values through the monitoring of the repeated sales of the same work.
Among the most known we can mention:
- The Art Basel and UBS Global Art Market Report: the report was conceived by the famous economist Clare McAndrew, and integrated from the research strands of UBS and of its Chief Investment Office. A comprehensive and macro-level analysis of today’s international art market, the report covers the main market trends in the context of wider economic changes.
- Art & Finance Report of Deloitte in collaboration with ArtTactic: the report, a point of reference for the sector, investigates the market in various aspects: from collectors to art players (auction houses, gallery owners, art advisors), from wealth managers to the integration of new technologies.
- Hiscox Online Art Trade Report in collaboration with ArtTactic: released annually, the report reveals the latest trends on the state of the market on the web, shedding light on the behavior of collectors and on online sales from auctions, e-commerce and sales platforms.
And you, are you ready to discover the results of the art reports?