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Strong demand and an abundant offer: having earned a legitimate place in the history of art, photography has become a dynamic medium with a rapidly maturing and increasingly demanding market. Today the photography medium accounts for 7% of total global auction revenue generated from Contemporary art and its auction revenue total has grown 1,300% since the end of the 1990s (+1,270% between 1998 and 2008) in a market traditionally dominated by painting, sculpture and drawing. During the 2008-2009 crisis, collectors spent substantially less on art generally, buying fewer paintings (sales of Contemporary paintings contracted 11% in 2008-2009 compared with 2006-2007), but they do not appear to have reduced their spending on photography. http://web.artprice.com/artmarketinsight/628/Photography+market%3a+Paris+rivals+with+New+York+and+London?l=en
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