Posted By Mason Hayutin on Mar 11, 2016 in THE ARTS
The European Fine Art Foundation (TEFAF) has released the 2016 edition of its highly anticipated annual Art Market Report, which analyses the global art market in 2015.
Some key takeaways from the report include:
- The United States, then the United Kingdom, had the most sales volume for the year.
- The United States art market saw a 4% gain to $27.3 billion, which made it the largest global art market participant.
- China’s Art Market is contracting in step with other weaker economic conditions.
- The total sales volume for the year was $63.8 billion.
Since 2008, the report has been published by Dublin-based Art Economics.
Source: 2016 TEFAF Art Market Report Shows US Increase
Author: Mason Hayutin
Founder, Editor and contributing writer, Mr. Mason Hayutin is recognized for his depth of experience and knowledge in technology, energy economics, real estate and the arts (fine and visual). Having worked with recognized world-class artists and their estates since 1997, Mason brings a wealth of practical experiences from installations, marketing, and private sales.
An active business advocate, he successfully released the fine art documentary film LUBIE LOVE in 2009 ahead of the global auto crisis - in addition to maintaining his tenure at GALLERY M INC. Hayutin holds a degree in Economics from Washington University in St. Louis. He is the founder of MASONmodern, a boutique real estate firm based in Denver, CO. You can read his insight here at The Art Quarterly as well as in regional and national publications.
