{"id":26164,"date":"2017-03-06T08:09:45","date_gmt":"2017-03-06T13:09:45","guid":{"rendered":"https:\/\/rehs.com\/blog\/?p=26164"},"modified":"2024-03-26T08:07:05","modified_gmt":"2024-03-26T12:07:05","slug":"market-shifts-away-from-auction-model-towards-dealer-sales","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2017\/03\/market-shifts-away-from-auction-model-towards-dealer-sales\/","title":{"rendered":"Market Shifts Away from Auction Model Towards Dealer Sales"},"content":{"rendered":"<p>Tefaf&#8217;s annual report on the health of the art market is out and there were some interesting findings. \u00a0First, there is a new author &#8211; Rachel Pownall, Professor of Finance at Maastricht University School of Business and Economics (Clare McAndrew was the former author, but she moved over to the competition &#8212; Art Basel).<\/p>\n<p>Pownall used a different methodology for her report and the total value came in at $45B (far below McAndrew&#8217;s $63.8B from last year). \u00a0Now one might say this is a bad sign for the market; however, McAndrew used far more galleries in her report (69,000 dealers in the US alone &#8212; a crazy number); Pownall reduced that number to\u00a021,000. \u00a0According to Pownall, if she had used McAndrew&#8217;s methodology, this year&#8217;s number would have been slightly higher.<\/p>\n<p>Over the past year, we have reported on\u00a0changes in the market &#8230; less material hitting the auction block and more important works being offered privately. \u00a0Well, Pownall&#8217;s report supports this:\u00a0<em>Sales through dealers and galleries have risen by 24 per cent, with auction houses\u2019 private deals at around $2bn in 2016. Pownall calculates that dealers\u2019 sales accounted for around 63 per cent of the market, far higher than previously assumed (around 50 per cent).<\/em> \u00a0I know this number is even higher because many dealer&#8217;s private sales go unreported and are not included in the Tefaf report.<\/p>\n<p>Source:\u00a0<em><a href=\"http:\/\/1uyxqn3lzdsa2ytyzj1asxmmmpt.wpengine.netdna-cdn.com\/wp-content\/uploads\/2017\/03\/TEFAF-Art-Market-Report-20173.pdf\" target=\"_blank\" rel=\"noopener\">TEFAF Art Market Report 2017<\/a><\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tefaf&#8217;s annual report on the health of the art market is out and there were some interesting findings. \u00a0First, there is a new author &#8211; Rachel Pownall, Professor of Finance at Maastricht University School of Business and Economics (Clare McAndrew &hellip; <a href=\"https:\/\/rehs.com\/eng\/2017\/03\/market-shifts-away-from-auction-model-towards-dealer-sales\/?contemporary=N\">More&#8230;<\/a><\/p>\n","protected":false},"author":21,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,1],"tags":[21,11,9,358],"class_list":["post-26164","post","type-post","status-publish","format-standard","hentry","category-rehs-galleries","category-rehs-contemporary","tag-general-art-market-comments","tag-rehs-contemporary-news","tag-rehs-galleries-news","tag-tefaf-report"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Market Shifts Away From Auction Model Towards Dealer Sales<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rehs.com\/eng\/2017\/03\/market-shifts-away-from-auction-model-towards-dealer-sales\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Shifts Away from Auction Model Towards Dealer Sales\" \/>\n<meta property=\"og:description\" content=\"Tefaf&#8217;s annual report on the health of the art market is out and there were some interesting findings. \u00a0First, there is a new author &#8211; Rachel Pownall, Professor of Finance at Maastricht University School of Business and Economics (Clare McAndrew &hellip; More...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/rehs.com\/eng\/2017\/03\/market-shifts-away-from-auction-model-towards-dealer-sales\/\" \/>\n<meta property=\"og:site_name\" content=\"Rehs Galleries\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/RehsGalleriesInc\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/howard.rehs\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-06T13:09:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-26T12:07:05+00:00\" \/>\n<meta name=\"author\" content=\"Howard L. 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