TURKISH ART MARKET at AUCTİONS First Quarter 2021 REVIEW in Brief By Dr. Zafer Özdem

Auction art market sales turnover increased up to 48 Million TL by 100.11 % in the first quarter compared to the same period in 2020. This increase and all zaferozdem Turkish Art Market Indices indicates that the art auction market in Turkey boomed with online auctions which are organized mostly after the pandemic circumstances. Almost all art markets turned into digital platforms to buy and sell art pieces. zaferozdem Turkish Modern Art Index shows the biggest increase, up to 1330.32 by 39.95 % in the First Quarter. All zaferozdem Turkish Art Market Indices priced in USD increased even with volatile exchange rate. zaferozdem Contemporary Art Index shows the biggest Average Annual Return increased by 19.57 % between 2000-2021Q1. Bedri Rahmi Eyüboğlu artworks sold at auctions with greatest volume by 3.118.000 TL in the First Quarter. Abidin Dino artworks sold with the highest demand by average number of bids 49 per artwork. The most expensive artwork sold at auctions was Fikret Mualla: 530.282 TL (75.864 USD) at 13 Feb. 2021 by Artam Antik A.S. The Highest Price Increase of Artists was Mustafa Ata by 139.71 % at Auction Market in First Quarter 2021.