Industry data

HOPES of a recovery in the value of antique furniture have been dealt a blow after the Antiques Collectors’ Club’s Annual Furniture Index (AFI) saw prices fall by seven per cent during 2009.

IN a year dominated by Christie’s blockbuster 342m euros (£308m) sale of the Bergé/St-Laurent Collection, most Paris auctioneers reported a fall in sales averaging around 20 per cent. There were, however, signs of confidence returning to the market.

Inertia again characterised the Antiques Collectors' Club's annual Antique Furniture Index (AFI) in 2008. But in a year when so many economic investments ended up performing poorly, a negligible fall of one per cent was far from devastating.

THE latest Goverment Import/Export figures indicated the final effects of the art market boom before the downturn seen in October.

THE latest series of contemporary art auctions in New York showed how much the market has fallen since its peak. With sale totals down well over 50 per cent from last year’s autumn series held at the height of the boom, the extent of the damage caused by the current economic distress and diminished confidence amongst buyers was manifest. The question now is will prices stabilise or fall further?

GUARANTEES slashed, costs to follow. That’s the message from Sotheby’s as they announce third quarter losses of $46.2m. And consignors will have to be more realistic about the deals they can secure and their expectations at auction in future.

THE instability of stock markets led to sharp rises in the price of gold last week as investors took to buying precious metals as a safe haven from the financial turmoil seen across the globe.

TOTAL exports outside the European Union of art and antiques from the UK remained static in 2007, while total imports rose by seven per cent. However, the details show a more dramatic picture in some sectors, indicating, perhaps above all, the effect of the weak dollar against the pound.

SOTHEBY’S dependence on the contemporary art market could hardly be clearer than in their latest set of figures.

CHRISTIE’S have announced sales of £1.8bn ($3.5bn) for the first half of 2008, a ten per cent increase on the same period last year.

The second quarterly survey conducted by the Royal Institute of Chartered Surveyors made gloomy reading for those engaged in the trade of traditional art and antiques.

A NEW detailed survey of online art market information services concludes that they have a long way to go to be able to provide reliable information for art investors.

CONTEMPORARY art may still be heading skywards, but the imminent buyer’s premium rate increases – and Sotheby’s latest set of results – show that pressure at the margins is as intense as ever.

The art and antiques business received some welcome positive publicity last week as a raft of national newspapers picked up on the headline findings of the first RICS Art & Antiques Market Survey.

SOTHEBY’S have closed the gap between themselves and Christie’s on worldwide sales in 2007, announcing a record $6.2bn of consoldiated sales to Christie’s $6.3bn.

THE price of precious metals surged last week as markets across the world continued to react to the high price of oil and the weak dollar.

Spink, the specialist London coin and stamp auctioneers, have announced auction revenues of £23.8m including premium for 2007.

PHILLIPS de Pury more than doubled their auction sales total thanks to the booming market for contemporary art and their increasing presence in London.

THE effect of their new salerooms in Rome and New York saw London book specialists Bloomsbury Auctions post a hammer total of £20.4m for 2007.