Turkish contemporary art volume up, but prices hovering at the low end of estimate
ArtTactic's Auction Analysis Reports summarise, analyse and compare recent auctions from the key auction houses for each specific geographical region. By collecting and graphing data including volume of sales, average price and bought in rates, the reports are able to judge the success of auctions by comparing the final results to pre-sales expectations.
Sotheby’s second Contemporary Turkish sale was 87% higher than the total achieved in March 2009. According to Sotheby’s, ‘the bidding was international and buyers came from across the globe’. Although there was no indication from the auction house about the geographical split of the buyers in the recent auction. As the Turkish art market has only recently found its way into the international auction arena, one would still expect a substantial participation of Turkish collectors in these auctions.