25 Oct '12, 9am

Artprice and Art Stage Singapore Form Strategic Partnership in Asia - The Herald

Artprice and Art Stage Singapore Form Strategic Partnership in Asia - The Herald

PARIS, October 25, 2012 — /PRNewswire/ -- As predicted in previous annual reports, Artprice confirms that Asia, as a whole, will represent over 55% of the global art market in 2012 and a minimum share of 65% to 70% by 2015. However, despite China's apparent domination - with a 41% market share far ahead of the USA with 23% - Asia, with 61% of the world population, is a highly complex market and can even be a veritable nightmare for Western companies that have failed to understand the local terrain. For example, the question of "market share" on the Asian art market is in fact far more complicated than it first appears. On paper, China looks the obvious leader; but Singapore, Hong Kong, Indonesia, Taiwan, Japan, South Korea and the Philippines could also justifiably make the same claim. In reality, there are only two major entry points to the Asian art market (which include...

Full article: http://www.heraldonline.com/2012/10/25/4363503/artprice-a...

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Artprice is global leader in art-price and art-index databanks with more than 27 million indices and auction results cover...

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