Insiders Are Growing More Confident About the Art Market
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Insiders Are Growing More Confident About the Art Market

Which artists are expected to see growth in the next 10 years?

By Fang Block
Thu, Jul 15, 2021Grey Clock < 1 min

Contemporary art experts are growing more positive about the market, a survey shows.

The latest ArtTactic Confidence Indicator, based on a poll of 135 international collectors, auction specialists, art dealers, art advisors, and market analysts, had a reading of 80.6 in July, the highest level since January 2014.

By comparison, the reading stood at 44.6 in November 2020, “signalling a strong positive shift in market sentiment over the last eight months,” the report said.

ArtTactic, a London-based art market analysis firm, has gauged the market sentiment every six months since May 2005.

The positive sentiment was quite broad. The outlook indicator for the auction market had a reading of 90, up from 56 in November 2020. Meanwhile, the primary market confidence, which reflects the market sentiment of art galleries, had a reading of 76, up from last November’s reading of 39.

Additionally, 51% of experts surveyed said they believed the market for established contemporary artists will continue to strengthen over the next six months, compared to just 24% saying so in November 2020.

The top-five established artists whose works are expected to see increased demand within the next 10 years are Yoshitomo Nara, Cecily Brown, Mark Bradford, George Condo, and Gerhard Richter, according to the survey.

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By Kanebridge News
Thu, Aug 11, 2022 < 1 min

New research from Knight Frank’s International Waterfront Index shows waterfront properties are costing more than double their inland counterparts in Sydney while in Melbourne waterside properties attract a 40% premium.

Australia’s coastline attracts some of the highest waterfront premiums in the world with Sydney topping the index — an average premium of 121% — compared to an equivalent home set away from the water.

Auckland ranked second on the list of 17 international locations — a premium of 76%. The list saw Gold Coast (71%), Perth (69%) and the Cap d’Antibes (59%) on the French Riviera round out the top 5.

Australia continued to feature prominently in the research with Brisbane’s waterfront premium coming in at 55%, with Melbourne also in the top 10 at 39%.

According to Knight Frank Australia’s head of residential research, Michelle Ciesielski, there has always been strong appetite for Sydney’s waterfront homes.

Australia’s luxury residential market has advanced, it lacks the depth of prestige markets in more established global cities said Cieselski.

“As a result, our Australian cities can achieve a significantly higher premium on the waterfront compared to a similar property inland without access to, or a view of, water,” she said.

“Also, Australia is known for its balmy outdoor lifestyle, so many buyers in this super-prime space are willing to pay a premium to secure the ideal position along the waterfront.”

The data also suggests that beachfront homes were most desirable, commanding a premium of 63% compared to harbour locations fetching 62% premium and coastal homes with a 40% premium.