London Art Fair Prepares For 2015 Launch With Sustained Growth Predicted
The London Art Fair which takes place 21–25 January 2015 has released their annual economic survey of exhibiting galleries. When asked for their opinions of growth within the art market, the report reveals that only 6% think that the economy will worsen. Half think that there will be an improvement in art market fortunes in 2015, with increased opportunities to show work internationally. Collaborations and partnerships with other galleries, are also seen as the factors which will have most impact on the market. The London Art Fair is the first major event of 2015. It is always a good barometer of the UK and international art markets.
As the art world year opens in London with the 27th edition of London Art Fair, a survey of galleries taking part reveals that most remain optimistic about the state of the economy and the prospects for the art market. Following a record year for the international art market some are a little less bullish than they were at the same time last year, while none of them saw a shrinking of the art market in prospect, but pessimism is still in short supply, with only 4% thinking that the market will fare worse than the previous year.
Galleries were also asked about which opportunities they see having a positive impact on the art market. Almost a third, 30%, cited increased opportunities to show work internationally, while 27% are looking to collaborations and partnerships with other galleries to grow their reach.
Sarah Monk, Director of London Art Fair, comments: “It’s great to see the art world maintaining confidence at the start of 2015 and we’re looking forward to another successful Fair next week. Within this year’s Fair we’re reflecting the trend for both partnerships and collaborations, with our ‘Dialogues’ section in Art Projects and the growing importance of the international market, with an increase in our international exhibitors to 14% and a panel discussion on the Globalisation of the Art Market on Friday 23 January.”