NEW YORK – For its fourth edition, the annual Art Basel and UBS Global Art Market Report has once again partnered with Artory to give the art world its first comprehensive look at the art market’s performance over the past year.
Artory’s database, which contains millions of transaction records from auction houses across the globe, was an integral part of the research conducted in the report. Moreover, the Artory team worked closely with renowned economist Dr. Clare McAndrew–Founder of Arts Economics and author of the report–to provide her with the most relevant and trusted information describing the pulse of the market.
The Art Market Report 2020 is the art world’s premier benchmark for the study and analysis of the general art market, art collecting, auction houses, fairs, and online sales. By using Artory’s neutral database with information sourced directly from auction houses, The Art Market Report offers objective, independent research and shares Artory’s goal of bringing greater transparency to the market. Artory’s database covers thousands of auction houses, with millions of records and consistent auction results gathered annually for businesses globally. The database comprises results from major sales in first- and second-tier auction houses around the world, and does not restrict inclusion by final price or estimate value, hence offering coverage of the full range of prices and sales.
Providing, investigating, and segmenting this dataset is no simple feat. According to Dr. Clare McAndrew: “The auction sector provides one of the main large-scale, international, and publicly available information sources on individual transactions in the art market. Even though the results of many auction sales are in the public domain, aggregating data within this part of the market is not without issues, particularly on a global scale, with some auction houses publishing limited, selective, or no results at all. The primary fine art auction data supplier for this report was Artory, and I am most grateful to the Artory team for their hard work and dedication in putting together this very complex set of data.”
Through Artory’s unique capacities and dataset, Artory is able to provide:
- An extensive investigation into the global auction market spanning over six continents, including transactions from online auction houses.
- Bespoke analyses of art market performance including queries by region, artist, movement, time, price bracket, and auction house amongst others.
- Comprehensive, objective, and independent datasets.
Additionally, Artory allows users to see if certain data has been signed-off on by third-party experts.
Timothy Kompanchenko, Artory’s Chief Technology Officer, further explains how Artory aided the research in the report by stating: “The volume of data that we have compiled is invaluable to understanding the market.” Kompanchenko continued: “Beyond that, however, Artory has a team that understands how to digest this raw data and how to work with researchers to provide the kind of rigorous analysis they need to conduct their studies. As we grow, we expect to become an even stronger resource for collectors, academics, and other institutions seeking an understanding of the art market and its constituents.”
Moreover, on Artory’s collaboration with The Art Market Report 2020, Founder and CEO Nanne Dekking states, “It is an honor to act as an asset for this report. Artory is more than happy to share our resources and to curate data sets uniquely designed to assist Clare with her research. Her work represents a gold standard within the industry and the report has really become an invaluable resource for all parties involved in the market.”
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