“The Art Market 2018”, a report by Art Basel and Swiss bank UBS, was released this week stating that, after two years of decline, the global art market grew about 12 percent in 2017, with about USD 63.7 billion in sales. Important parts of the art market data used to compose this 347-page strong report were contributed by ArtFacts.Net, the largest exhibition database in the world.
This report, like the first edition in 2017, was prepared by economist Dr. Clare McAndrew, formerly responsible for the “TEFAF Art Market Report”. With the help of ArtFacts.Net, McAndrew took into consideration exhibition activity when describing the status quo of the art market. By using numerous exhibition data, artist rankings and art fair activity, “The Art Market 2018” is able to not only rely on public auction data or dealer surveys but also to cast a glance on where art comes from: artist activities and exhibitions. Thus comparing for example the top 20 selling artists in the auction market with the top 20 ranked artists by ArtFacts.Net a reader gains a full insight into the market of today.
ArtFacts.Net was founded by Marek Claaßen, an awarded internet entrepreneur in 2001. Its database currently lists approximately 800,000 exhibitions, 40,000 galleries and institutions, and more than half-a-million artists from 192 countries. ArtFacts.Net monitors artists by providing each with an algorithmically calculated rank derived from quantified criteria such as gallery representation, collecting institutions, institution type and international reach. The ArtFacts.Net Ranking makes it possible to compare artists where minimal or no sales data is available. Based in Berlin with a global network of editors, the ArtFacts.Net team represents a unique body of commitment and expertise.