The Role of Art & Antique Dealers An Added Value
to €11 billion on a range of services including marketing, insurance, conservation and restoration. The highest expenditure was on advertising and marketing (with spending of €2.1 billion) and the next largest, even though only incurred by dealers, was on art fairs at €1.6 billion. In the EU alone, ancillary spending on the art trade amounted to €3.8 billion in 2010, supporting more than 112,525 jobs.
2.3 International Business
Unlike auction houses, which conduct sales over a range of different sectors of the art market, dealers tend to specialise in specific fields where they have a high level of expertise. Because of their high level of concentration by sector, many dealers maintain an internationally focused business model, conducting sales both at a local level and in other countries. According to the dealers polled in 2010, on average, dealers made 72% of their sales locally in the primary country where their business is located and 28% elsewhere, including for example through participation in art fairs. A total of 28% of dealers attributed at least half of their business to transactions carried out overseas, and 11% reported that overseas business transactions accounted for 75% or more of sales.
There was some variation by country, with dealers in the US, Germany and Italy reporting higher than average local sales at 81%, 80% and 86% respectively. The UK and France, on the other hand, tended towards a higher share of overseas sales, with local sales by dealers in these markets accounting for 62% in the UK and 52% in France. For French and British dealers, the most important destination markets were the US, other parts of the EU and some Asian markets. For US dealers, they were the larger art markets in Europe, Asia and South America. Some of the smaller European markets tended to sell to buyers within close proximity (for example the German / Austrian/ Swiss trade).
Table 1. Summary of Key Figures Art Market Sales 2010
Dealer Sales
Number of Dealers Worldwide Direct Employment
© Arts Economics 2011
€43.0 billion €21.9 billion 375,000 + 1.4 million
18
Historical & Future Perspectives
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64