According to The Global Art Market in 2010, a study commissioned by the Netherlands-based European Fine Art Commission, last year China became the second largest art market in the world with a global share of 23%. The US remained in first place with 34%, with Britain downgraded from second to third position with 22%. These figures were them questioned by the analysis of Artprice , which – focusing only on sales at public auctions (the European Fine Art Commission's study included gallery sales) – declared China to be the dominant art market in the world with 33% of the global sales.
To guage the Bristish art world's reaction to this shift, ARTINFO UK sounded out five prominent figures: Alexander Branczik, Director, Contemporary Art, Sotheby's London; Philip Dodd, Director of Made in China and Advisory Board Member of ART HK; Alex Sainsbury, Collector and Founding Director of Raven Row; Gavin Turk, Artist; and Neil Wenman, Director, Hauser & Wirth Gallery. You can see what they had to say here.
Image: Lichtenstein's “Ohhh… Alright” at a Christie's auction preview in October 2010