Saturday 30 August 2008

Feeling the Crunch?

Being part of what is traditionally termed the 'luxury goods sector' applied artists should perhaps be living in fear of financial ruin with the constant doom-mongering that monopolises media output currently. Talk of Global recession, credit crunch and the general slow down of the markets is enough to make anyone who relies on sales from a select group of the general public to keep their business afloat particularly worried, but is this justified?

There have also been articles in the press stating that the demand for art 'bucks the credit crunch'. High-value investors are buying arts and antiques as an alternative to stocks and shares in the uncertain economic climate, a report says. The Royal Institution of Chartered Surveyors (Rics) says the industry has remained relatively stable between April and July. Investors are looking to purchase items that will provide a high return in future sales. Contemporary art is selling particularly well but lower priced items - particularly ceramics and furniture - are showing signs of a slowdown in the market, it added.

Only time will tell; with the run up to Christmas and large London based fairs such as Origin (which many of us rely on for our annual sales) taking place next month, perhaps the real test is yet to come.

What's your take on it? - Have you noticed a dip in sales or a general lack in customer confidence?

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