Subscribe free to our newsletters via your
. Farming News .




POLITICAL ECONOMY
In art auctions, US outbidding China: Artprice
by Staff Writers
Paris (AFP) Aug 2, 2015


Boosted by record-breaking New York sales of a Picasso painting and a Giacometti sculpture, the United States has become the world's leader in public art auctions, unseating China, a 2015 report by Artprice showed.

The US art auction market grew by 20 percent in the first six months of the year, with sales totalling $2.8 billion (2.5 billion euros), nearly a billion more than China with sales worth $1.9 billion, said the report obtained by AFP.

"An unexpected rebound, considering that, year after year, China seemed to confirm its place as number one," said Thierry Ehrmann, president and founder of Artprice, which compiles data on the art market, auction sales and artist's prices.

Fuelled by a strong dollar, the US boom is based in New York where nearly all its art auctions are held, and the Big Apple ranks more than ever as the top place to find art masterpieces.

That could be seen at Christie's art auction in May where Pablo Picasso's "The Women of Algiers (Version 0)" went for $179 million, the highest price ever for an art work sold at auction.

Another object of intense bidding was Alberto Giacometti's bronze statue "Man Pointing", which became the most expensive sculpture sold at auction for $141 million.

On the global level, the number of works up for auction in January through June fell by 17 percent. Sales dropped by 5.0 percent from a year earlier, slipping from $8.0 billion to $7.6 billion, mainly due to the Chinese retreat, according to the report.

After having surged between 2009 and 2014 (by 214 percent), Chinese sales -- including Hong Kong and Taiwan -- slowed dramatically by 30 percent in the first half of 2015, according to figures collected by Chinese public group Artron, an institutional partner of Artprice.

The sluggish global economy has affected global art sales, but so have anti-corruption measures which have made art investors more cautious.

Artprice says these measures have paralysed more and more sales of art that did not meet strict legal definitions.

The report also noted that China is feeling competitive heat for second place from Great Britain, with London the world's number two city for art auctions.

Sales in Britain increased by 6.0 percent in the first half of the year after spectacular growth of 35 percent in 2014. Sales totalled around $1.9 billion, less than $100 million short of China's.

fa/boc/rob

Artprice


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





POLITICAL ECONOMY
China new home prices up in July: survey
Beijing (AFP) July 31, 2015
China's new home prices increased in July for the third straight month, a survey showed Friday, as the market continued to recover on the back of government policy support. The average price of a new home in China's 100 major cities rose 0.54 percent month-on-month to 10,685 yuan ($1,721) per square metre, the China Index Academy (CIA) said in a report. The result, however, marked a sli ... read more


POLITICAL ECONOMY
Space-eye-view could help stop global wildlife decline

Satellites peer into rock 50 miles beneath Tibetan Plateau

Satellite imagery reveals Pilanesberg ring dike complex

Google lets users map their steps

POLITICAL ECONOMY
China launches two satellites as it builds GPS rival

Russia, Brazil to track space junk with GLONASS

China's Beidou navigation system to track flights

Russia's GLONASS Proves More Than a Match for America's GPS

POLITICAL ECONOMY
Mangroves help protect against sea level rise

China ire as Myanmar jails scores for illegal logging

Myanmar jails Chinese nationals for illegal logging: report

Controlled burns increase invasive grass in hardwood forests

POLITICAL ECONOMY
Reproducible research for biofuels and biogas

Microalgae as a feedstuff for grower steers

Tropical peatland carbon losses from oil palm plantations may be underestimated

How do biofuel perennials affect the water cycle?

POLITICAL ECONOMY
Butterfly pose helps solar panels boost efficiency

Reshaping the solar spectrum to turn light to electricity

juwi Builds 26 PV Farms in 30 Months

New Intecto Integrated PV Roof Tile From Romag

POLITICAL ECONOMY
Rhode Island to get offshore wind farm

Wind energy provides 8 percent of Europe's electricity

Siting wind farms more quickly, cheaply

Galapagos airport evolves to renewable energy only

POLITICAL ECONOMY
Six China miners saved after 7 days underground: Xinhua

Coal industry suffers as demand falls short of supply

Contentious China-run mine in Australia shows 'world gone mad'

German government drops plans for contested coal tax

POLITICAL ECONOMY
China artist Ai Weiwei says has German visa

China sentences 14 'Almighty God' members to jail: Xinhua

Hard lives of China's 'left behind' children

Chinese police vanquish Spartan invasion of Beijing




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.