After economist Dr Clare McAndrew, who had led the research for eight years, left in 2016, the authorship of the TEFAF report has changed and its methodology tweaked. This year’s report has been put together by Prof Rachel Pownall of the School of Business Economics at Maastricht University in partnership with the Maastricht Centre of Arts and Culture, Conservation and Heritage (MACCH).
It uses aggregated data from Artnet’s database of 1700 auction houses, which Pownall says represents 95% of the auction market by value. The report also surveyed 5000 dealers, but used a narrower research scope for a more “representative sample of the industry” and to reflect TEFAF fair exhibitors: those selling objects above $500.
It compiled data on dealers and galleries from national statistics offices, financial data from Orbis, a global company database, and Maastricht University’s annual dealer survey.