The Global Art Market Report for 2017

The video discusses the Art Basel Hong Kong event, highlighting visitor trends and the global art market's performance. Clare Mcandrew provides insights into the challenges faced by the art market in 2016 and forecasts for 2017. The discussion covers supply issues, auction market dynamics, and the rise of private sales. The impact of China's capital controls on art buying is also explored, noting the potential boost in domestic sales.

What was a significant challenge for the art market in 2016?

• Overproduction of art pieces

• Lack of interest in art

• Geopolitical uncertainties

• A surge in art sales

How did the private sector perform compared to the auction sector in 2016?

• The auction sector outperformed the private sector

• The private sector declined significantly

• Both sectors performed equally well

• The private sector performed better

What is a potential effect of China's capital controls on art buying?

• Reduction in art prices globally

• No impact on art sales

• Increase in art sales within China

• Decrease in global art sales

What percentage of global art sales did dealer sales reportedly reach?

• 50%

• 62%

• 85%

• 75%

What is a common strategy used in auctions to support the market?

• Limiting art exhibitions

• Increasing art production

• Using guarantees

• Reducing art prices