The International Art Markets: The Essential Guide for Collectors and Investors


Art investment is a booming global market which has not yet been affected by market uncertainty in other investment sectors. Prices are surging, and auction records are constantly being broken in terms of prices paid for Old Masters, Impressionist paintings, and works from the contemporary sector. According to the annual Hiscox Art Market research report, prices for contemporary art rose by 55% in the year to mid-2007. But are such increases sustainable? Do other world markets, and different art categories, offer...

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Art investment is a booming global market which has not yet been affected by market uncertainty in other investment sectors. Prices are surging, and auction records are constantly being broken in terms of prices paid for Old Masters, Impressionist paintings, and works from the contemporary sector. According to the annual Hiscox Art Market research report, prices for contemporary art rose by 55% in the year to mid-2007. But are such increases sustainable? Do other world markets, and different art categories, offer better potential for future returns?
This timely new book, the first to assess art's potential as an investment class on a country-by-country basis, is designed for collectors and investors looking to broaden their knowledge of the global market for art investment — including history, buying patterns, and future trends for many countries around the world. Locally-based experts supplement James Goodwin's extensive knowledge of world art markets.

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Editorial Reviews

From the Publisher
"A detailed analysis of art markets in practially all countries around the world." - Kathryn Markel, owner of Kathryn Markel Fine Arts and

"Comprehensive, accessible and packed with valuable information... the essential point of reference for art collectors and investors." — Art Market Blog

"A detailed analysis of art markets in practially all countries around the world." - Kathryn Markel, owner of Kathryn Markel Fine Arts and

"Provides a wealth of information to collectors." — Wall Street Journal

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Product Details

  • ISBN-13: 9780749448356
  • Publisher: Kogan Page, Ltd.
  • Publication date: 9/1/2008
  • Edition description: Illustrate
  • Pages: 448
  • Product dimensions: 6.90 (w) x 9.40 (h) x 1.40 (d)

Meet the Author

James Goodwin writes and lectures on the art markets and antique furniture. His writing has appeared in The Economist, the Financial Times and the European edition of The Wall Street Journal, as well as numerous art and antiques magazines.

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Table of Contents

Foreword by Lord Gowrie       

Preface and acknowledgements          

Contributors' notes     


            James Goodwin

            The trading of art; Art research; The workings of the art market; Art indexes; Corporate collections; Museums; Supply and demand; Value; The collector; The investor; Art and the law; A new age and a shift of economic power; Tax and the global art market; The internet art market; Bibliography

1          Sub-Saharan Africa   

            Katrin Schmitter

            Introduction; The art market: an abyss between antique and contemporary; The antique sector; The contemporary sector; Museums; Galleries; Exhibitions and art fairs; Prices, artists and trends; Conclusion; Bibliography and sources

2          Argentina       

            Adrian Gualdoni Basualdo

            Introduction; The current Argentine art market; Sales volume of Argentine art at auctions; The 10 most expensive works of Argentine art on the market; Conclusion

3          Australia        

            Georgina Pemberton and Josh Pullan

            I come from the land down under; A segmented market: Australian, aboriginal and international art; Financial indicators and performance; The players; The regulatory environment; Buyer characteristics; Conclusion; Bibliography

4          Austria           

            Andrea Jungmann and Claude Piening

            Short history; Auction houses in Austria; The Austrian art market; Export law and restitution; Collecting fields; 20th-century Austrian art; Contemporary art; Sources of further information

5          Belgium          

            Henry Bounameaux and Victor Ginsburgh

            Introduction; The Belgian art market; Collectors and collections; Belgian artists on international markets; Legal issues and taxation; Bibliography

6          Brazil 

            Katia Mindlin Leite Barbosa

            The current art market in Rio de Janeiro and São Paulo; Artists who influence the market; Trends; Contacts and institutions; Legal and regulatory aspects of the local art market; Conclusion; Bibliography

7          Canada          

            Calin Valsan, Derrick Chong and Elisabeth Bogdan

            Introduction; Sources of data; Market data; Conclusion; Bibliography

8          Chile   

            Cecilia Miquel

            Introduction; The point of view of the artist; The importance of management; Consumption statistics; Summary

9          China 

            Ruben Lien

            Introduction; The art market by sector; The contemporary art market; Conclusion

10        Czech Republic          

            Nicole Stava and Ivana Kodlova

            Profile of the Czech art market; The market for contemporary art in the Czech Republic; The current auction market in the Czech Republic; Important addresses

11        Denmark and Iceland           

            Kira Sjöberg

            The art market; Historical patronage; Auctions and galleries; Galleries in Denmark; Galleries in Iceland; Art awards; Taxation; Conclusion; Bibliography and contact information

12        Finland           

            Pauliina Laitinen-Laiho

            Finnish art markets today; The prices of artworks; Investing in art through Finnish auctions; Some Finnish artists and art categories; Art sale institutions in Finland; Important summer exhibitions

13        France

            Roxana Azimi

            History; The main players on the market; The buyers; French specialities; Exports

14        Germany       

            Roman Kräussl

            Collecting and dealing; Investing in German art; Bibliography

15        Greece           

            Iliana Fokianaki

            Galleries; Fairs/biennials; Auctioneers; Collectors and collections; Public collections and museums; Legal issues and taxation; Acknowledgements; Bibliography

16        India   

            Sonal Singh

            The growth of the art market in India; The art market today; Galleries; Art fairs, biennales and triennials; Auctions; Market performance; Select bibliography

17        Indonesia       

            Vidhyasuri Utami

            Indo-European art; Indonesian modern art; The Balinese school; Indonesian contemporary art; Reference

18        Ireland           

            Clare McAndrew

            The Irish art trade; The Irish taxation system; References

19        Israel  

            Roni Gilat-Baharaff

            History and background; The market characteristics; How to buy and sell in Israel – historical facts; Buyers; Tax and regulations; The art trade structure; Recent and important art market results; Market trends

20        Italy   

            Sara Mortarotti

            The Italian art market; The market in Italy; Structure of the market; Art and cultural demand; Art market legislation; Reference

21        Japan 

            Roddy Ropner and Kumiko Hirakawa

            Introduction; The art market; Collecting post-war and contemporary art; Museums; Media and references; Acknowledgements

22        Malaysia        

            Johnni Wong

            The artists; The government’s role; Auction houses; Art dealers; The collectors; Conclusion; Selected bibliography;

23        Mexico           

            Patricia Bueno Delgado and Ercilia Gomez Maqueo Y Rojas

The importance of 20th century Mexican art; The current art market; Trends

24        The Middle East and North Africa   

            William Lawrie

            Categories of art; Galleries; Local auctions; International auctions 0; Museums; Biennials; Fairs; Collectors and collections; Local media coverage; Legal issues and taxation; Prognosis

25        The Netherlands        

            Bert Bakker and Rachel Campbell

            Dutch art internationally: prominence thanks to fertile soil; Dutch contemporary artists in the international market; Dutch design; The Dutch markets for global art today; Local Dutch art and art markets; The role of the government in the art scene: public and private spending on the arts; Reference

26        New Zealand  

            Tim Hazledine, Mary Vavasour and Lisa Gotlieb

            The structure of the art market in New Zealand; Auctions; Dealers; Art consultants; Art buyers; Recent prices and trends in the NZ art market

27        Norway          

            Clemens Bomsdorf and Birgitte Lie

            Exhibitions and education; The market and market conditions; Art publications; Auction houses, dealers and galleries; Collectors; Visual arts; Decorative arts; Acknowledgements; Bibliography

28        The Philippines          

            Ruoh Ling Keong

            The art market; References

29        Poland

            Yvonna Januszewska and Wojciech Kowalski

            Introduction; Auctioneers, dealers and modern art galleries; Collections and collectors; Polish artists on the international market; References

30        Portugal         

            João Magalhães

            Taste and trends; Market structure; Collectors; Final notes; Acknowledgements; Reference

31        Russia

            Sergei Reviakin

            The art market today; Auction houses; Art fairs; Art and taxation; Education and dxpertise; Contemporary art; Conclusion

32        Singapore       

            Lindy Poh

            Introduction; Auction houses; Art fairs and infrastructure; Tax and other incentives; Art specialist skills and services; References

33        South Africa   

            Harriet Hedley

            Introduction; Key artists; Conclusion

34        South Korea  

            Sunhee Choi and Byungsik Choi

            Art presently sold; Players; Art fairs in Korea; Auctions; Korean art in the international auction market

35        Spain  

            Aina Truyols and Fernando Romero

            The art market and legislation; Investing in the Spanish art market; The Spanish art market: booming since the 1990s; Challenges faced by the Spanish art market; Museums, foundations, collectors, publishers and the art market; Bibliography

36        Sweden           

            Kira Sjöberg

            Introduction; Patronage and collections, private and public; The international marketplace for Swedish art; Taxation; Conclusion; References

37        Switzerland    

            Dirk Boll

            Introduction; The Swiss gallery scene; The leading fair for modern and contemporary art; The secondary market in Switzerland; Jewels and wristwatches; Swiss impact on international art markets; Legal framework

38        Taiwan           

            Iain Robertson

            Taiwan’s recent history and current art market performances; The antique and Old Master markets; Conclusion

39        Thailand         

            Brian Curtin

            Introduction; Galleries: an introduction; The art market; Collectors; Media;


40        Turkey           

            Zeynep Kayhan

            The Turkish art market; Collectors; Public collections and museums; Taxation; Bibliography

41        The United Kingdom 

            Godfrey Barker

            The auction market; The market for British art; Leading British artists

42        The United States

            Brook S Mason

            New York; Art shows and fairs; The New York gallery scene;

43        Venezuela       

            Diana Boccardo

            The colonial era; Travellers to the New World; The 19th century; The 20th century; 20 to the present


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  • Anonymous

    Posted September 9, 2008

    Wall Street Journal review

    'Provides a comprehensive look at the art markets in 41 countries and two regions 'sub-Saharan Africa Middle East and North Africa'. Refreshingly, the book expands its focus beyond the U.S. and U.K., giving similar weight to such lesser-known art markets as Indonesia, Malaysia, Turkey and Israel.' -Margaret Studer, Wall Street Journal

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