KEY POINTS:
New auction house ART+OBJECT has released its fourth contemporary art catalogue into a "thriving" investment market place.
Managing director Hamish Coney says while more mainstream investment markets, such as real estate and shares, are in a down swing, the art market at auction is in good health and quality artworks are available for collectors.
Last year, art worth $14.5m went under the hammer and sales this year are tracking at similar levels.
Coney says the art market has been stable during the past five years, with consistent buying activity.
"Almost all sectors of the art market are experiencing solid demand," he says.
The number of artworks sold at auction has almost doubled in the past decade, from 2600 in 1998 to 4800 last year.
Coney says this suggests more buyers are coming in at the lower end of the value scale, indicating a widening collector base - and this is cause for optimism for market growth.
Contemporary New Zealand art is attracting new and younger collectors, Coney says.
"The big growth area of international collecting in the past decade has been contemporary art and this is beginning to be felt in New Zealand.
"New collecting categories, such as photography and applied art, are in a growth phase as collectors recognise the quality and diversity of artwork in these areas."
The current catalogue features works by Jacquie Fraser, Star Gossage, Shane Cotton, Judy Millar, Michael Parekowhai, Peter Robinson, John Pule, Laurence Aberhart, Peter Peryer, Andrew McLeod, Francis Upritchard, Luise Fong, Emily Wolfe and recent Wallace Award winner Richard Lewer.
Most of the works in the catalogue are estimated to sell for between $3000 and $20,000 and will be auctioned on Thursday, September 18, at 6.30pm.
