ArtTactic Photography Market Confidence Survey
29 May 2013
Art Tactic is an art market analysis firm offering research and commentary on the ever changing art world! As new markets emerge and tastes shift, Art Tactic gives readers the insider knowledge needed to ensure that their art investments stay ahead of the curve.
Their latest photography report published last month suggests that confidence in the contemporary photography market has increased by almost 10% in the last 12 months, a great sign for both artists and dealers working in the medium. Confidence is currently ranked at 69, with any reading above 50 implying a more positive than negative sentiment in the market place. The biggest increase in confidence lies at the top end of the photography market (prices over $100,000), signalling that buyers view the highest price categories as the safest investment.
Perhaps the most dramatic statistic to come out of the report is an 85% increase in Modern and contemporary photography sales in New York in April 2013 compared to the same month last year. Photographers such as Diane Arbus, Irvin Penn and Man Ray feature at the top of the 2013 confidence rankings list, with William Eggleston sitting at number one. Contemporary photography accounts for 30% of this year’s dedicated photography sales at Christies, Phillips de Pury and Sotheby’s, which is up a massive 25% from 2011. Leading top sales is a recent trend in classic fashion photography. This is highlighted by the likes of Helmet Newton - who, after huge retrospective in Paris last year, saw his popularity heighten and audience grow substantially.
Experts seem confident that there will be a continued positive outlook for the top end of the Modern and contemporary photography market, with an increase of yet another 8% expected over the next 6 months.