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Public Commentary

  Chelsea Now
    Vol. 3, #16
  Art + Auction
    March 2009


Harnessing curatorial scholarship and economic rigor to

create the only existing macroeconomic and microeconomic infrastructure to define and
analyze the art economy comprehensively

measure and manage the financial risks that distinguish this complicated sector

improve the operating efficiencies and strategic robustness of our clients

Macroeconomic Facts:

The global art economy generated $23.5 billion (£ 16.6 billion and €26.7 billion) of total sales in 2001.

Europe and the United States accounted for about 92% of the value that changed ownership globally during the year.

In Europe, the art trade directly generated 73,500 jobs spread across 28,600 businesses. In the United States, 35,300 jobs were directly generated by 8,800 businesses.

Ancillary economic activity generated by the art economy in Europe and the United States resulted in nearly $3 billion ( 2.1 billion and € 3.4 billion) of further stimulus, including the indirect creation of 80,000 more professional and service sector jobs.

To view some Microeconomic Facts, click here

  The European Art Market in 2002: A Survey

 
 

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