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Confidence in market rises against the odds

ArtTactic's latest survey shows art market experts are more confident than they were at the beginning of the year

Economic uncertainty over the UK’s European Union referendum and slower growth in the US may weigh heavily, but art market experts are more confident than they were at the beginning of the year—at least for the gallery business. The six-monthly Art Market Confidence survey, researched by Anders Petterson of ArtTactic, measures the confidence levels of 122 experts in the post-war and contemporary markets, mostly in the US and Europe. Its latest findings, due to be published later this month, show an average confidence reading of 55 (out of 100), up by 21% from an all-time low in January. But while confidence in the primary market is up 23%, it has fallen 7% for the auction market.