Artprice is Launching Art Market Confidence Index(R), a Real Time Index Which Measures How Confident Art Market Players are Feeling

. January 28, 2008 . 0 Comments

PARIS, – This real time confidence index is built on the same theoretical basis as the Michigan Consumer Sentiment Index of the Survey Research Center at the University of Michigan which is a benchmark for global stock markets.

Movements on the Art Market Confidence Index by Artprice enable real time monitoring of the reactions of art market players to strictly current events (stock market variations, geopolitical events, the impact of a well-publicised sale, or any external accident likely to affect global economies). This anticipation indicator is then correlated with Artprice’s price indices. Artprice is thus meeting the needs of press agencies, written and audiovisual Medias as well as its clients who, confronted with an increasingly unpredictable world, require real time indicators of the state of the global art market and who might want to anticipate the trend for the months to come.

The Artprice methodology is based on a permanent international opinion poll of its 1.3 million members (member log in) most of whom are active players on the art market throughout all time zones. Representative sampling varies over time. Only the last 1,000 replies are used to calculate the AMCI (by Artprice) index. http://web.artprice.com/amci/

This new international index, which may be compared to other economic and social events, represents an original source of information that is vital for market-makers and a wealth of knowledge in anticipatory statistics that were previously unavailable because there was no critical mass of players to be polled in real time in each country. From this simultaneously calculated index, synthetic derivative data may be downloaded directly from the Artprice data bank to be used automatically along with the principal economic and stock market indicators.

Since 1997, the Artprice econometrics department has developed algorithms for calculating indices based on unique expertise and databases which have established these indices and economic indicators as the market benchmark, making Artprice the global leader in information.

Experts and sociologists think the AMCI by Artprice real time index will have a huge impact on an art market which was previously used to data and indices appearing after market events. According to Thierry Ehrmann, Artprice’s founder, “the art market has become globally so important that it was inevitable to anticipate market moves with a leading index that would have the largest possible coverage and thus become an essential part of this market. Artprice has an econometrics background which has been taken up by the principal financial agencies and publications in the world and its 1.3 million members, and was the only company with the reputation to impose such a tool.”

Source: (c) http://www.artprice.com 1987-2007 Thierry Ehrmann

Artprice, the world leader in art market information, lists over 25 million auction prices and indices covering over 405,000 artists, continuously updated from 2,900 international auction houses. Artprice provides daily information on art market trends for the main financial press titles and agencies worldwide. Artprice Images(R) offers unlimited access to the largest database of art market information in the world, a library comprising 290,000 auction catalogues and reference works from 1700 to the present day. Artprice offers standardised adverts to its 1,300,000 members (member log in) and is the world’s leading market for buying and selling works of art (source: Artprice). Artprice is listed on Eurolist by Euronext Paris: Euroclear: 7478 – Bloomberg: PRC – Reuters: ARTF

Category: Fine Art News

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