Adduco Capital Partners – consulting and advisory specialist in Fine Art acquisitions and sales.
Having had exposure to the private art market for over 10 years in sales and advisory, we have always been struck by the way works of art were offered in the market. More particularly, the lack of transparency, the very poor dissemination of correct information and the hurdles (seemingly created) that make transactions so difficult to conclude. Our role is to make this a seamless exercise.
By creating accessibility and an optimal environment to transact. Our connections to scholars and art experts, who are qualified to comment on the provenance and authenticity of the works as well as having access to a network of collectors and buyers allows us to affect credibility and stability.
Our approach provides a very good transactional framework for the private art market. It is also a means to create and cement mutually beneficial relationships and this adaptive template is applied to other lines of business.
Sales in the global art market in 2018 reached $67.4 billion, up 6% year-on-year.
Sales in the three largest markets of the US, the UK, and China accounted for 84% of the global market’s total value in 2018: The US was the largest market worldwide, accounting for 44% of sales by value. The UK regained its position as the second largest art market (21%) and China was the third largest with 19%.
Dealer and gallery sales in 2018 reached an estimated $35.9 billion, up 7% year-on-year.
Sales at public auction of fine and decorative art and antiques (excluding auction house private sales) reached $29.1 billion in 2018, an increase of 3% year-on-year, and up nearly 30% on 2016.
Art fair sales were estimated to have reached $16.5 billion in 2018, a rise of 6% year-on-year, and accounted for 46% of dealer sales.
Online sales of art and antiques reached an estimated $6 billion, up 11% year-on-year and accounting for 9% of the value of the global market.
The art Basel and UBS global art market report, 2019