London Art Fair 20-24 January 2016
Preview evening: Tuesday 19 January
On the eve of London Art Fair 2016 a survey of exhibiting galleries reveals that:
– 85% are confident that the art market will remain strong or fare better in 2016
– they predict this will be fuelled by a growing number of people interested in buying art and increasing sales to international collectors
– but many are concerned about rising rents and business rates affecting the UK’s competitiveness in a global art market
An annual survey of galleries exhibiting at London Art Fair has revealed today that many are confident that the art market will fare better in 2016 than 2015, fuelled by a growing number of people interested in buying art and increasing sales to international collectors.
London Art Fair, the UK’s premier fair for Modern British and contemporary art, sees 126 UK and international galleries exhibit at the Business Design Centre in Islington from 20-24 January 2016. 53 of these galleries responded to last week’s survey about annual predictions for the art market in 2016.
Asked how the art market will fare in 2016, almost half (44%) predicted that it would be about the same as 2015 – a strong year for modern British and contemporary art sales – while a similar number (41%) were confident that it actually improve. This compares to the view by over half of respondents that the overall economy will stay level (57%), with a quarter believing that things will improve (26%).
The biggest opportunity for the UK art market in 2016 was seen to be a growing number of people interested in buying art (43%) with increasing sales to international collectors (23%) and an increased profile through collaboration and partnerships (17%) also seen as key opportunities for development, each by around a fifth of respondents.
‘Rising rents and business rates’ were, however, seen by 37% to be the greatest threat to the UK’s prominence in the global art market, followed by concerns about ‘local government cuts to arts funding’ (21%), ‘rising costs and reduced availability of studio space for artists’ (13%) and ‘an education system that prioritises STEM subjects over the arts’ (10%).
Sarah Monk, director of London Art Fair comments:
“It’s encouraging to see an upbeat prediction for the art market in 2016 we celebrate the opening of the year at London Art Fair.
“Fairs provide an increasingly valuable opportunity for galleries to increase their profile and reach new audiences. London Art Fair provides a welcoming and supportive environment for collectors looking to discover quality modern British and contemporary art – whether they are first-time buyers or experienced patrons.
“In the long term, our initiatives such as Art Projects ‘Dialogues’ are devised to encourage new modes of presentation and to foster relationships which can continue beyond the Fair.”
53 galleries were surveyed by telephone and through an online survey with the following results:
1) Do you think the economy in 2016 will:
- a) Get better – 26% [52%/70%/24%/45%]
- b) Get worse – 17% [6%/2%/33%/14%]
- c) Stay the same – 57% [42%/28%/42%/41%]
2) Do you think the art market in the same period will:
- a) Fare better – 41% [51%/61%/49%/46%]
- b) Fare worse – 15% [4%/0%/7%/11%]
- c) Stay the same – 44 [45%/39%/41%/43%}
3) What do you feel is the greatest opportunity for the UK art market in 2016?
- a) A growing number of people interested in buying art –43%
- b) Increasing sales through art fairs – 9%
- c) Increasing sales to international collectors – 23%
- d) Increased profile through collaboration and partnerships – 17%
- e) Better employment of online channels – 8%
- f) Other – 0%
4) Which do you feel is the greatest threat to the UK’s pre-eminence in the global art world?
- a) Rising rents and business rates for galleries – 37%
- b) Rising costs and reduced availability of studio space for artists –13%
- c) Local government cuts to arts funding – 21%
- d) An education system that prioritises STEM subjects over the arts –10%
- e) Other – 19%
London Art Fair tickets are now on sale at £15 (plus £1.50 booking fee) in advance, including a copy of the 2016 Fair Guide (to be collected at the Fair). Tickets on the door are £20.
Sponsors and Supporters
Switzerland Tourism – Sponsor
Peroni Nastro Azzurro – VIP and Thursday Late Drinks Sponsor
De’Longhi – VIP and Art Projects Artist Award Sponsor
Infiniti – VIP Car Partner
Own Art Plus – Sponsor
AXA ART – Sponsor
Brownhill Insurance Group – Sponsor
John Jones – Sponsor
EBISS Fine Art Shipping Services – Official Packing and Shipping Company
Alchemy Recruitment Ltd – Galleries Reception Sponsor
Genesis Imaging – Photo50 supporter
Jerwood Gallery – Museum Partner
Hastings Borough Council – Museum Partner supporter
Sotheby’s Institute of Art – Tours Partner
BoConcept – Collectors’ Lounge Furniture Partner
TM Lighting – Collectors’ Lounge Partner
Claridge’s, the Connaught and the Berkeley – Official Hotel Partners
London Art Fair day tickets are now on sale at £15 (plus £1.50 booking fee) in advance, including a copy of the 2016 Fair Guide (to be collected at the Fair). Day tickets on the door are £20.
Advance ticket prices end on 18 January 2016