Contemporary art market confidence is slowly creeping back

After the ArtTactic Confidence Indicator reached a low point in July 2023, our latest reading in January 2024 came in at 38, which could signal that confidence is creeping back into the art market at the beginning of this year, although the negative market sentiment continue to outweigh positive voices in the market. After the global Contemporary art auction market declined in 2023, on the back of increasing economic and geo-political uncertainty, it looks like experts surveyed by ArtTactic are starting to feel that the worst might be over and that a bottom has been reached.

About this report:

The ArtTactic Art Market Confidence Indicator was launched in May 2005 and is now in its 39th edition. The survey is modelled on a similar methodology to the CEO confidence Survey that was launched in 1976 by the Conference Board in the US. We believe that the opinions of a small group of select ‘art insiders’; collectors, auction houses, advisors and other art professionals provide a valuable insight into the perception about the current and future state of the art market.

Artists included in this Confidence Survey:

Established Artists Kai Althoff, John Baldessari, Miquel Barcelo, Matthew Barney, Georg Baselitz, Mark Bradford, Cecily Brown, Glenn Brown, Maurizio Cattelan, Jake & Dinos Chapman , George Condo, Peter Doig, Marlene Dumas, Olafur Eliasson, Fischli & Weiss, Urs Fisher, Gilbert & George, Robert Gober, Andreas Gursky, Damien Hirst, Anish Kapoor, On Kawara, Mike Kelley, William Kentridge, Anselm Kiefer, Jeff Koons, Yayoi Kusama, Paul McCarthy, Vik Muniz, Takashi Murakami, Yoshitomo Nara, Shirin Neshat, Chris Ofili, Elisabeth Peyton , Sigmar Polke, Richard Prince, Neo Rauch, Gerhard Richter, Thomas Ruff, David Salle, Sean Scully, Cindy Sherman, Rudolf Stingel, Thomas Struth, Mark Tansey, Rosemarie Trockel, Luc Tuymans, Bill Viola, Jeff Wall, Franz West, Rachel Whiteread and Christopher Wool

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