Logo Polskiego Radia

Art market blossoming in Poland

PR dla Zagranicy
Nick Hodge 18.04.2013 14:15
A new report reveals that the art market is blossoming in Poland, with Poles increasingly viewing artworks as sound investments.

Photo:
Photo: Glowimages

Consultancy firm Deloitte has estimated that the Polish art market is now worth between 300 million and 350 million zloty (72.8 million euro to 85 million euro).

Works to the value of 61 million zloty (14.8 million euro) were sold in Poland last year.

In an interview with Polish Radio, Deloitte's Adam Mariuk reflected that the new economic realities following the communist era have allowed Poles to return to the pre-war tradition of art collecting, and that the market has great potential for further development.

He noted that almost two thirds of Polish banks are now offering services connected with investment in art.

“Investing in art is a business for the patient,” he stressed.

“The annual rate of return on investment in this market [for objects] held for more than 15 years is 46.6 percent, whereas investments lasting from one to five years yielded only 0.2 percent per year,” he said. (nh)

Print
Copyright © Polskie Radio S.A About Us Contact Us