SOURCE: Century Market Research

June 06, 2013 08:30 ET

The World's Fine Art Market Hit $64 Billion in 2012

NOTE TO EDITORS: The Following Is a Research Alert Issued by Century Market Research

NEW YORK, NY--(Marketwired - Jun 6, 2013) - International Art sales realized more than a $64 billion dollar total last year, with predictions that this area of the market will continue to grow. The art market has seen consistent, stable growth between 2001 and 2011. Fine art reproductions are an ever-increasing source of popularity and as the market for originals increases, the market for reproductions and first edition originals increases as well.

Over the last few years the Internet has broadened the art market far beyond the exclusivity and has helped turn "art for everyone" into a reality. eBay has over 50 different categories of "Art" currently on its site and many companies come up under a simple Google search for "reproduction art," and now with Chinese buyers dominating the sales at auction, many new collectors will be looking to get in at many different levels to increase their collections.

Experience Art and Design (OTCQB: EXAD) is a unique player in the reproduction market in that they trace their subsidiary's (Chiurazzi Internazionale S.r.l.) roots back to the late 1890s where they were the Chiurazzi Foundry and were granted permission to mould artifacts from the ruins of Pompeii and Herculaneum. From this, they later expanded to mould the likes of Michelangelo, Bernini, Giambologna, Cellini, Canova, Donatello, and others. Works from the Chiurazzi Foundry are owned by such notable collectors as the Queen of England, the Rockefeller Family, the Rothschild Family, and the Vanderbilt Family. Ironically, many of these masterpieces can be seen back in the Vatican Museums, the Louvre as well as the Cambridge Museum, the Baltimore Museum of Art and the Carnegie Museum of Art.

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