Clare McAndrew To Crunch Numbers For Art Basel
Clare McAndrew the expert has been responsible for crunching the art market’s annual numbers on behalf of the Tefaf, Maastricht art fair for more than eight years now. The distinguished art economist would now be associated with Art Basel. The fair’s next Hong Kong edition is scheduled for 23-25th March 2017 which coincides with due date of publishing the very first Art Basel and UBS Global Art Market Report.
McAndrew states that the appeal and feel of the Art Basel report will be completely different, in spite of the fact that the general methodology and data collection would still be the foundation of the market synopsis. With a stronger focus on expanding the information base of private sales, McAndrew intends to improve the response levels regarding under-the-radar transactions. For this purpose McAndrew can exploit the Art Basel & UBS networks while still maintaining independent entities for the report and the economist.
Marc Spiegler, the global director for Art Basel credits the appointment to the long standing professional relationship between the art economist and the American Director for Art Basel – Noah Horowitz.
McAndrew’s claim of leaving Tefaf on good terms is further substantiated by the statement issued by Tefaf chief executive Patrick van Maris – “It is a sign of a maturing market that other players are now choosing to invest in independent research.”
As he wishes McAndrew well for her future, he also mentions that the Tefaf report will continue to be published, the details of which would be divulged soon.
The annual report that McAndrew published for Tefaf fair has come to be respected as THE source of all kinds of statistics for the art market and has been at the focus of the symposium at the fair for five years now. Her latest report which was published in March indicated a fall of 7% in the sale of fine arts globally in 2015 from $68.2bn to $63.8bn.
This news is accompanied by the announcement of UBS confirming the extension of its lead sponsorship contract with Art Basel. The particulars of the continuing partnership with the Swiss Bank are still being kept under the covers.