The Australian Art Market from Top to Bottom

In an article in the Sydney Morning Herald in February, I suggested that art auction prices had bottomed. I am not so sure about a return of prices even after the very successful auction of the Grundy collection end of June, selling just under 20 million dollars worth of art.

Sydney Morning Herald image

Rising property prices over a period of time certainly help, and with the perceived extra equity, art can become a necessary purchase again.

Meanwhile, uncertainty about the election, the mining resources boom and economic woes in far off countries leave the Australian art market in a rather jittery state. So it is still a buy, buy, as far as the auction room is concerned. 

We have continued to purchase at auction for numerous clients across the country and for overseas expats where we have had little opposition in the auction room.

Speaking of auctions: Lawson-Menzies are now online with their latest offering: 350 lots is a lot and this number will also put pressure on the results, I feel. Want to know more? Go and read Dave’s Faves.

 

Written by

Brigitte Banziger

Hello, my name is Brigitte Banziger and I am an art consultant and manager at Banziger Hulme Fine Art Consultants, Australia's art valuation and art advice experts. We offer comprehensive art valuation and art brokerage services (selling and buying art on behalf of clients). Our art services cover everything from valuations, art care and restoration, to general advice such as helping define the goals for your art purchase and work out the best strategy on how to achieve those goals, including where, how and and when to buy.

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