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

Hi, 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 specialise in art valuations for insurance purposes, for family division, deceased estates, superannuation funds and market values, and advise clients regarding purchase and sales of art (art brokerage). Our services are sought by private clients, companies, public galleries and councils alike. Our aim is to provide professional service with friendly, approachable manner.

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