The global art market reached, according to the TEFAF Report published earlier this year, a total of just over €51 billion in 2014, an increase of 7% year on year and its highest ever recorded level.
Independently of this impressive number, true is, the market continues to be highly polarized, with a relatively small number of artists, buyers and sellers accounting for a large share of value. Just to give you an idea, out of approximately 39 million transactions (and that’s a lot of art being purchased), “only” 1,520 lots were sold at auctions for over €1 million, including 96 for over €10 million.
A promising trend counteracting this to some extent is the growth of online sales, estimated to have reached €3.3 billion or around 6% of all sales by value, with the majority of sales being made in in lower price segments ($1,000 - $50,000). Together with well-established players like AUCTIONATA, PADDLE 8 and more recently ARTSY, a myriad of start-ups are trying to bring closer professional curators, gallery owners, collectors and simply art interested – and ideally make some money on the way.
In this attractive, dynamic and not always transparent business, I just wanted to present to you the ADD ART initiative audeamus.capital/addart.de. For the third year in a row, 22 companies in Hamburg will open their doors to the public on the weekend of November 7-8, to show part of their private collections or selective artworks from young artists. I highly recommended you to stroll along the city center and let you be seduced by the interesting exhibitions in some of Hamburg’s more established financial institutions like BERENBERG BANK or HAMBURGER SPARKASSE, industry players like VATTENFALL or HAPAG-LLOYD; law and consulting firms – from BDO to BUSE HEBERER FROMM passing through KPMG) or last, but not least, numerous family companies devoted since generations to the city.
In that context, TER GROUP, a leading Pan-European distributor of chemical raw materials, natural and synthetic resins, plastics, and waxes (AUDEAMUS happens to share the office building) will be hosting works from Nathalie Hummer and Eduard Zent. Nathalie experiments in her work, starting from the theme tattoo with the hegemonies of skin and ink, line, surface, abstraction and precise drawing.
The Russian-born Eduard Zent devotes his work "Modern Tradition" to the feeling of belonging and cultural identity; his photo portraits blend emigrant’s traditional costumes with artifacts of modern society as a harmonious symbiosis and contrast simultaneously.
So, do not hesitate, reserve your tickets and ADD ART in your life.