Paris (AFP)

The number of works sold at auction beat an absolute record in 2019, even if the market is overall down by 14%, according to the annual balance sheet of Artprice which notes a strong comeback from the Paris market.

Five hundred and fifty thousand lots of "fine art" (painting, sculpture, drawing, photography, printmaking, installation ...), compared to 539,000 lots in 2018, were auctioned in 2019 for a total of $ 13.3 billion . This is the largest circulation of works ever recorded in auction rooms, says the report of Artprice, world leader in information on the art market.

In terms of turnover, this market recorded a decrease of 14% compared to 2018 when it had reached $ 15.5 billion.

The overall price index remained stable (+ 0.48%) as did the unsold rate, at 38%, according to Artprice. This rate is a thermometer which makes it possible to check whether the market is in a speculative spiral (unsold rate below 20%) or on the contrary in free fall (especially if it is above 60%).

This study is carried out each year by Artprice on public auctions (buyer fees included). This "fine art" classification excludes from its field antiques, anonymous cultural goods and furniture.

-The attraction of the Place de Paris-

Rare fact, France experienced the best global growth in 2019, gradually resuming its role of great power, with a turnover of 827 million dollars (+ 18%).

In sold lots, France ranks second in the world with 82,016 works (behind the United States with 99,000). It can boast of having the first auction house in Europe, Artcurial, which ranks 11th in the world.

Several notable sales have marked the French chronicle like that of "Christ mocked" by Cimabue, sold for 24 million euros.

It is way ahead of Germany (268 million), Italy (207) and Switzerland (110).

In the New York art world, "France is once again perceived as attractive. Its evocation is no longer greeted with a mocking smile," says Thierry Ehrmann, president of Artprice.

The United States, with 4.6 billion dollars, exceeds China (4.1 billion) and the United Kingdom (2.2 billion). But these top three powers in the art market, which account for 82% of the world's sales revenue, recorded decreases in turnover.

China recorded a smaller decrease (-9%) than the United States (-22%) and the United Kingdom (-21%).

Several evolutions are taking shape: the art market could suffer from Brexit, especially with regard to the London square.

The new coronavirus makes contact with China very difficult. The signals coming from China in January and especially February are negative with the massive cancellation of public sales.

By categories, the Old Masters recorded a very good performance in China and France. The 19th century and Modern Art suffered from a lack of masterpieces, while Post-War Art crowned American artists with abstract expressionism and pop art.

As for contemporary art, whose index increases by 4.44%, we see Koons and Kaws catching up with Basquiat. "The market trusts living artists. Contemporary art is no longer the cursed parent but the locomotive," says Ehrmann.

The global surge in female artists continues on all continents at very high levels. Street Art imposes itself in auction rooms, with its stars like Kaws and Banksy but also other artists: Invader, Stik, Shepard Fairey, Vhils.

African-American and African-born artists are strengthening their place in history and in the market.

"We are witnessing a rise in quality which is systematic. Auction houses like Artcurial choose good works, they are ruthless in the selection of their catalogs", analyzes the president of Artprice.

© 2020 AFP