Tuesday, February 9th, 2010
Has Market Confidence Rebounded?
A new quarterly report from ArtTactic announces that the researchfirm’s Confidence Indicator for US and European contemporary art markets has significantly rebounded since reaching a low point in November 2008. The Indicator now stands 4% higher than the autumn 2007 reading, shortly after the first signs ofthe credit crisis emerged. However, while short term analysis seems hopeful, sustainability remains uncertain. 47% of industry professionals surveyed believe the market has already rebounded, or is likely to do so within a year. On a positive note for collectors, speculation risk remains subdued, with no signals that speculators are returning to the market.
The full report may be purchased from the ArtTactic website.
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