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THE INTERNATIONAL

ART
MARKETS
The essential guide for collectors
and investors

Consultant Editor

JAMES GOODWIN

KOGAN
PAGE

London and Philadelphia

Conclusion 52 48 3 Australia Georgina Pemberton and Josh Pullan I come from the land down under 53. Value 12. The regulatory environment 63. Prices. The art market: an abyss between antique and contemporary 34. The current Argentine art market 49. Art indexes 8. Museums 10. A segmented market: Australian and Aboriginal art 54. Bibliography 66 53 . The workings of the art market 6. The collector 17. Art research 5. The players 59. The antique sector 34. Sales volume of Argentine art at auctions 50. Tax and the global art market 27. Conclusion 66. Art and the law 20. The contemporary sector 37. The 10 most expensive works of Argentine art on the market 51. Buyer characteristics 64. The internet art market and art funds 28. Exhibitions and art fairs 41.Contents Contributors Foreword Preface Sponsor statement Introduction James Goodwin The trading of art 4. Supply and demand 11. The investor 18. Museums 39. Financial indicators and performance 57. Bibliography and sources 45 33 2 Argentina Adrian Gualdoni Basualdo Introduction 48. Conclusion 42. Corporate collections 10. artists and trends 42. Bibliography 30 xi xx xxii xxv 1 1 Sub-Saharan Africa Katrin Schmitter Introduction 33. A new age and a shift of economic power 21. Galleries 40.

Reference 74 67 5 Belgium Henry Bounameaux and Victor Ginsburgh Introduction 75. The market for contemporary art in the Czech Republic 112. Consumption statistics 100. The importance of management 99. Conclusion 96. . Contemporary art 73. Galleries in Iceland 122. Bibliography 97 90 8 Chile Cecilia Miquel Introduction 98. Art awards 123. Legal issues and taxation 78. Collecting fields 71. The art market by sector 105. Summary 101 98 9 China Ruben Lien Introduction 103. Bibliography and contact information 124 118. Historical patronage 120. Sources of data 91. Contacts and institutions 85. Bibliography 79 75 6 Brazil Katia Mindlin Leite Barbosa The current art market in Rio de Janeiro and Sao Paulo 80. 20th-century Austrian art 72.vi CONTENTS 4 Austria Andrea Jungmann and Claude Piening Short history 67. Important addresses 116 111 11 Denmark and Iceland Kira Sjoberg The art market 118. The Belgian art market 76. Collectors and collections 77. Market data 93. Belgian artists on international markets 78. Bibliography 89 80 7 Canada Calin Valsan. Derrick Chong and Elisabeth Bogdan Introduction 90. Legal and regulatory aspects of the local art market 87. Auctions and galleries 121. Conclusion 89. Auction houses in Austria 68. Export law and restitution 69. Artists who influence the market 81. Galleries in Denmark 122. Conclusion 110 103 10 Czech Republic Nicole Stava andlvana Kodlova Profile of the Czech art market 111. The contemporary art market 108. Conclusion 124. The current auction market in the Czech Republic 113. Trends 84. The Austrian art market 69. Sources of further information 74. The point of view of the artist 99. Taxation 123.

Bibliography 148 141 15 Greece Iliana Fokianaki Galleries 150. Investing in art through Finnish auctions 128. The market in Italy 185.historical facts 179. Investing in German art 144. The Balinese school 166. Exports 139 134 14 Germany Roman Krdussl Collecting and dealing 141. Reference 167 163 18 Ireland Clare McAndrew The Irish art trade 168. Auctions 160. Art and cultural demand 189. Recent and important art market results 182. The prices of artworks 128. Select bibliography 162 157 17 Indonesia Vidhyasuri Utami Indo-European art 166. The buyers 137. The art trade structure 181. Important summer exhibitions 133 127 13 France Roxana Azimi History 134. Fairs/biennials 152. Reference 192 184 . Tax and regulations 181. Public collections and museums 154. Market trends 183 177 20 Italy Sara Mortarotti The Italian art market 184. The Irish taxation system 172. Collectors and collections 153. CONTENTS VII 12 Finland Pauliina Laitinen-Laiho Finnish art markets today 127. French specialities 138. References 176 168 19 Israel Roni Gilat-Baharaff History and background 177. How to buy and sell in Israel . Art fairs. Indonesian modern art 166. Legal issues andtaxation 155. Buyers 180. The art market today 158.. Market performance 160. biennales and triennials 159. Bibliography 156 149 16 India Sonal Singh The growth of the art market in India 157. Art sale institutions in Finland 132. Auctioneers 152. Structure of the market 186. The market characteristics 179. Some Finnish artists and art categories 131. The main players in the market 135. Indonesian contemporary art 167. Art market legislation 190. Galleries 158. Acknowledgements 156.

Visual arts 241. The role of the government in the art scene: public and private spending on the arts 228. Acknowledgements 242. Art consultants 232. Art publications 237. Media and references 199. The market and market conditions 237. dealers and galleries 238. Trends 212 207 24 The Middle East and North Africa William Lawrie Categories of art 215. References 246 243 28 \ . Reference 228 221 26 New Zealand Tim Hazledine and Mary Vavasour with Lisa Gotlieb The structure of the art market in New Zealand 229. The collectors 204. Dealers 231. Legal issues and taxation 220. Selected bibliography 206 200 23 Mexico Patricia Bueno Delgado andErcilia Gomez Maqueo YRojas The importance of 20th-century Mexican art 207. Art dealers 203. The current art market 209. Local auctions 218. Prognosis 220 214 25 The Netherlands Bert Bakker and Rachel Campbell Dutch art internationally: prominence thanks to fertile soil 221. Auctions 229. Auction houses 203. Decorative arts 241. Dutch contemporary artists in the international market 224. Dutch design 224. The Dutch markets for global art today 225. Collectors andcollections 219.VIM CONTENTS . Conclusion 205. Biennials 219. The art market 193. Museums 198. Art buyers 232. Fairs 219. 21 Japan Roddy Ropner and Kumiko Hirakawa Introduction 193. Local media coverage 220. International auctions 218. Museums 218. Recent prices and trends in the NZ art market 233 229 27 Norway Clemens Bomsdorf and Birgitte Lie Exhibitions and education 236. Acknowledgements 199 193 22 Malaysia Johnni Wong The artists 200. Collectors 240. The government's role 201. Bibliography 242 236 The Philippines Ruoh Ling Keong The art market 243. Local Dutch art and art markets 225. Galleries 215. Auction houses. Collecting postwar and contemporary art 197.

Investing in the Spanish art market 289. Players 283. Market structure 259. Key artists 276. Bibliography 304 298 j . Bibliography 252 247 30 Portugal Joao Magalhaes Taste and trends 253. Final notes 262. The Spanish art market: booming since thel990s291.CONTENTS IX • 29 Poland Yvonna Januszewska and Wojciech Kowalski Introduction 247. publishers and the art market 295. Art fairs in Korea 285. Contemporary art 268. Taxation 303. Art and taxation 267. Auction houses 266. Bibliography 297 288 36 Sweden Kira Sjoberg Introduction 298. Auctioneers. Auction houses 271. Auctions 285. Conclusion 269 264 32 Singapore Lindy Poh Introduction 270. Patronage and collections. Art fairs 267. dealers and modern art galleries 247. collectors. Collectors 261. Reference 263 253 31 Russia Sergei Reviakin The art market today 264. Museums. Art fairs and infrastructure 272. Conclusion 279 275 34 South Korea Sunhee Choi and Byungsik Choi Art presently sold 282. foundations. Polish artists on the international market 251. Education and expertise 268. Art specialist skills and services 273. Challenges faced by the Spanish art market 294. Acknowledgements 263. The international marketplace for Swedish art 299. Collections and collectors 248. Tax and other incentives 273. private and public 298. References 274 270 33 South Africa Harriet Hedley Introduction 275. Korean art in the international auction market 286 281 35 Spain Aina Truyols and Fernando Romero The art market and legislation 288. Conclusion 303.

Legal framework 310 306 38 Taiwan Iain Robertson Taiwan's recent history and current art market performances 313. 2000 to the present 349 344 Index 351 . The art market 320. Collectors 325. Media 322. Collectors 321. Travellers to the New World 344. Bibliography 327 323 41 The United Kingdom Godfrey Barker The auction market 329. The 19th century 345. The 20th century 346. The New York gallery scene 342 337 43 Venezuela Diana Boccardo The colonial era 344. The secondary market in Switzerland 308.x CONTENTS 37 Switzerland Dirk Boll Introduction 306. The Swiss gallery scene 307. The market for British art 329. The leading fair for modern and contemporary art 307. Galleries: an introduction 320. Conclusion 318 313 39 Thailand Brian Curtin Introduction 319. Public collections and museums 326. Leading British artists 333 328 42 The United States Brook S Mason New York 337. Taxation 326. The antique and Old Master markets 318. Art shows and fairs 341. Jewels and wristwatches 309. Bibliography 322 319 40 Turkey Zeynep Kayhan The Turkish art market 324. Swiss impact on international art markets 309.