Artmark has published a report on the Romanian art market for September 2022 – July 2023, offering an analytical view of the evolution of the beauty and cultural assets market, as well as current trends in the market. During the art market year, Casa A10 by Artmark organized 49 auctions and recorded a total of auction awards of approximately €9.4 million, an average award ratio of 70.10%, and a total sales volume of €1.14 million. The report’s findings, although in an inflationary context, are marked by increased interest in various sectors of the art and collectibles market, which are seen as smart investments, the introduction of AI technologies, the rejuvenation of the age of participants in Artmark exhibitions and auctions. , as well as the celebration of art through special cultural events organized in the Česianu-Rakovice Palace.

In 2023, Artmark completed 15 years of activity, marking at the same time 500 auctions held on the Romanian art market in May this spring. The volume of artworks and collectables sold through the House’s auctions increased by 6%, with ArtPrice placing Artmark among the leaders of the South Eastern European art market, placing A10 by Artmark 2nd in Eastern Europe in terms of exhibition volume for sale. sale and sale (by the leading auction house of the Polish market). In parallel with the increase in the number of art deals over the past year, we have also seen an increase in the number of auction hours, approx. 2% (from 217 to 222 hours), which justifies the adoption of a new efficient digital auction format for some auctions of collectibles: an online delayed auction based on AI algorithms that replaces the physical commissioner in the auction room with a virtual one. However, a new auction typology was launched in parallel with the return to the physical auction room, and the first outdoor event after more than 3 years of online auctions, the Spring Auction, was recently held at the InterContinental Athenee Palace. .

The Romanian art market in the period 2022-2023 also recorded a significant increase in the number of young auctioneers, by 8% (among the age segments 18-30 years and 30-40 years). At the same time, the 2022-2023 season ranks second in terms of the number of online auction palettes (since 2011, since the launch of the Artmark Live online auction platform), namely 5,586 online auctioneers, and online participation in Artmark auctions with an international theme. was carried out in the analyzed season from 47 countries, except Romania (foreign jurisdictions with the largest share of supply are France, Belgium, Italy, Great Britain, Switzerland, the USA and China).

The segment of Romanian classical art is headed by the heritage triangle – Grigorescu-Tonica-Lucan. The highest price this season was recorded by Nicolae Tonica, whose work “Girl with a pink bow” was noted at the spring auction for 110,000 euros. A small version of the work from the collection of the Royal House, signed by the national artist Nicolae Grigorescu – “Lady Elizabeth in her study” was awarded for 77,500 euros. Stefan Lucian has only one transaction in the reporting period, the watercolor “Ulcior cu albastrele”, which is Lucian’s second best-selling watercolor, fetching €40,000. At the same time, the market of historical and cultural goods during the reporting period recorded absolute records: the record for an ancient Romanian book is two copies of the “Bible from Bucharest”, which were sold consecutively for 40,000 euros and 36,250 euros, respectively.

Among the collection records, we list only a few: 70,000 euros for a chic copy of the Ford Mustang GT Fastback; €24,000 for a historic Harley Davidson VL from the 1930s; €15,000 for a bottle of just 40 examples of Port Ellen Maltings whiskey bottled on the occasion of a visit to the Port Ellen distilleries in 1980 by Queen Elizabeth II of Great Britain; and a barrel of Romanian wine Fetească Neagră de Galicea Mare 2019 was awarded before Easter for €20,500; for the luxury record set by the gold and diamond Rolex Daytona, which sold at auction in February for €45,000, etc.

The full report on the Romanian art market, which details and complements the figures and records above, can be viewed and downloaded here.

Article supported by A10 by Artmark