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19th March 2011 contents News
China pushes UK art market into third place HMRC launch new guide for small businesses Dealers and organisers agree on Olympia direction
London Selection Auction Reports Auction Previews Dealers’ Dossier Dealers’ Diary Art Market Antiquarian Books International Events Fairs & Markets Classified Letters to the Editor The Back Page Subscription form Index of Auction Advertisers Auction Calendar
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DAVID Beesley, of Beesleys auctioneers, of Paignton in Devon, held his last auction on February 8 after almost 40 years in the business. He joined the business on February 10, 1973 and has never had a day sick off
work.
ADAM Partridge have appointed Caroline Lane (nee Morrell), formerly of Dreweatts and Bonhams, as Senior Valuer.
George Wade Carl Nestor
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Recovery has been much stronger in the US and China
continued from front page
East more recently have seen buyers from those regions flex their muscles, the market itself has remained largely in New York and London. Times are changing. Dr Clare McAndrew, the report’s
author and one of the art market’s leading analysts, has made a number of other key findings: • Auction sales in China totalled
almost €6bn in 2010. • The European Union’s share of the
global market in 2010 was 37%, a decline of 16% from it high point in 2003. • The UK remains the largest market
within the EU with a 59% share, but it has lost 5% of its global share since 2006, albeit now in a growing market. • France is Europe’s second largest
market with a 16% share of EU sales and a 6% global share. • The number of High Net Worth
(HNW) individuals in the Asia-Pacific region now equals those in Europe for the first time – and their overall wealth is greater. • The global contemporary art
market has recovered from it slump in 2009 when sales fell by 66%, but the resurgence has been significantly higher in the US and China than in Europe. The US recovery rate was 120%, China’s 121%, Europe’s 39% and the UK’s 43%. • Dealers generated 51% of sales
globally compared to 49% by auction houses, with an average 30% of dealer business being conducted at fairs. The traditional on-street gallery is in decline. The report makes alarming reading
on the subject of the Artist’s Resale Right (ARR) in the week after the UK Government’s consultation on what should happen next with ARR concluded. As ATG have reported on a number
of occasions, the UK currently enjoys a derogation of the right, limiting it to living artists. Ireland, the Netherlands, Austria and Malta also benefit from the derogation. However, from the beginning of next
year the EU plans to extend ARR to the estates of artists who have died within 70 years of the date of sale. Dr McAndrew’s report looks at the
cost of avoiding the levy by sending works for sale to markets where ARR is not applied, such as China and the US. It concludes that the threshold that makes it worthwhile for a work to be sent outside the EU to New York is €40,000. The report also notes that it will also
make more sense for consignors from exempt countries to sell works outside the EU on this basis, and it concludes that unless a global agreement to apply ARR is reached, it “risks causing further declines in the competitive position of the EU and markets within it”, threatening employment in the art market, related industries and cultural tourism.
New auction house for Guernsey
AFTER 26 years working with Martel Maides, Norman Wilkinson has established his own firm of Channel Islands Auctions Ltd. The Guernsey-based company will offer a full range of valuation services and plan to conduct mainly fine art auctions with three or four sales a year in hired venues. The first catalogue sale is planned for June 25. Mr Wilkinson, who started life with Martel Maides as a porter 26 years ago, will
assume the position of managing director and auctioneer, to be joined shortly by a representative in Jersey. His current contact numbers are 07781 113463 or 01481 722972 email:
cia@cwgsy.net
PEOPLE
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