Report Shows 16.9 Percent Growth Among Experts
A confidence survey report recently published by ArtTactic reveals that that the confidence indicator for Chinese contemporary art has increased by 16.9 percent in April 2013, showing that it remains a growing asset for security among art collectors.
The April 2013 report states that the confidence indicator has increased to 57 percent up from 49, reversing a previous negative trend that began in spring 2011.
The increased confidence in the market may be spurred by a rise in competition and scarcity of work — especially in competition, with Chinese auction houses Guardian and Beijing Poly now in the market. In addition, the continued strong presence of Chinese collectors will likely contribute to these factors.