It will still record a significant demand

The art market is, for the moment, a survivor of the crisis. In fact, he continues, started a few years already, that of elitism. The application is drawn, regardless of specialty, by the exceptional works which continue to save records as the 32 million euros for a drawing by Raphael, in December in London. However, the market consists not only of these exceptional works. The point of view of four experts.

Marc Blondeau

(Dealer in modern and contemporary works, installed in Geneva)

"In my view, the real crisis had started when excessive increases in prices, as of 2005." They were in some cases achieved artificially by a system of guarantees (1) which questioned the game of supply and demand. We are therefore witnessing a realignment of the ratings, justified. In the 1990s, the price of the most important contemporary classical paintings ranged between 500 000 and EUR 5 million. Since 2004 he has, on average between 2 to 20 million euros. The amounts involved are colossal and for exceptional pieces there is not, and there will be no reduction in the price. Because we are witnessing a phenomenon of extreme depletion. That said how Picasso of very high quality are offered each year at auction Three about. And perhaps less than Warhol still. In recent years, the basis of buyers of contemporary art was multiplied by 10. There are now two separate markets: a market that can be described as "haute couture" with great designers that have marked the history of art. And a market "ready-to-wear", consisting of emerging artists which are consumed as luxury brands. They are played by large galleries as footballers. And they continue, despite the crisis, to be sold, even if the rates are down. "It will take several years, so the trend concerning them reversed".

Tobias Meyer

(Global Director of contemporary art at Sotheby's)

"Madness in contemporary art is well and truly over." Recent parts of artists who were media in recent years such as Damien Hirst, Richard Prince or Jeff Koons, not cause more very high prices. That said, if a former piece of Koons as the "Balloon Dog" or a work of Hirst prior to 2 000 is proposed to auction, it will still give a good price. There are still lots of liquidity for the art market. But the vogue of "shiny, golden, happy" (2) in contemporary art has more courses. Collectors seek substantial works. They have in mind a sense of quality, of historic significance. Today, my clients speak to me mainly for example "The man walking", Giacometti bronze estimated $ 8 million, which will be offered in London in February. In the field of contemporary art, the volume of supply has fallen by 75. At the same time, the mass of Wall Street traders, who earned 20 million a year and then their shopping in the contemporary art 1 million, no longer exists. However, some collectors who had deserted the sales in 2007, frightened by the excesses of price return. And with each sale, new buyers appear, among other Chinese. Contemporary art is fascinating. It will still record a significant demand. "It is for this that it's a market of course."

Guillaume Cerutti

(President and CEO of Sotheby's France)

"Paris, Sotheby's has realized a turnover of EUR 100 million, consistent with the objectives". In 2009, the average value of the works sold us was 37,000 euros. It remains higher than that of 2007. But now the market is completely driven by the application. Sotheby's policy was never to make the number. We reject works that do not have the level of quality that we believe necessary. And, in the difficult situation of 2009, the percentage of sold was relatively high. Over 100,000 euros, only 7 of the lots found no payee. For private sales (3), Sotheby's France appealed to his sisters, Sotheby's Monaco or London companies but we hope to be allowed to do in Paris this year, as implied the speech of the President of the Republic in his wishes to the world of Culture. Today the private sales organised by Sotheby's represent 10 of the global turnover of our society. "It is however an additional trade".

François Curiel

(President of Christie's Europe, Chairman of Christie's Asia)

"I like to quote a phrase from the father of banker Edmond Safra, banker Jacob he even said:" when the earth quakes around you, not a millimetre moves. "." This is clearly felt in 2009 a large number of owners of works of art. At the same time, private sales have increased in importance (10 of our turnover). And the trend will go even to the increase in percentage but not absolute. Geographically, the most reactive part of the world at the moment is Asia. The continental Chinese buy now massively in all areas and at Christie's in Hong Kong, sales increased by 3 in 2009. Another example, in October in New York a one person, a Chinese businessman, acquired for jewelry $ 10 million. "Asia is the most promising part of the world in the field of the art market today."