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Apr 4, 2023 · The global art trade generated $67.8 billion in 2022 according to an annual survey published Tuesday by Art Basel and UBS. That figure marks a 3 percent increase over the $61.5 billion reported ...
- Angelica Villa
After resisting the impact of the pandemic in 2020 and 2021, in 2022 the value of China’s art market contracted by 34% to just $3.9 billion. This was the first time China’s annual art auction turnover total has been below the four billion dollar threshold for more than a decade. Meanwhile, the rest of the world posted remarkable growth of ...
Global art sales grew, exceeding 2019, pre-pandemic levels. Global art sales increased by 3% year-on-year to about $67.8 billion, with the market exceeding its pre-pandemic level of 2019, when it was $64.4 billion. Bustling art fairs, successful auctions at the high end, and busy in-person exhibition schedules contributed to a rising market.
In 2022, the UK’s art auction turnover posted an 8% growth versus 2021 and returned to the $2.1 billion level recorded before the covid pandemic and Brexit. With the exception of 2020, when the pandemic considerably slowed transactions in most countries, the number of works sold in the UK is growing rapidly each year, now exceeding 92,000 lots, i.e. two and a half times more than in 2015.
This past year, the USA took first place with a 20% increase… with China in second place. Between July 1, 2021, and June 30, 2022, turnover from global Contemporary Art sales totaled $2.7 billion, compared with $2.73 billion the previous year. Without China’s zero-covid policy and based on data for the last five years of China’s ...
Art Fairs: In 2021, as the fair calendar resumed, even with a reduced number of fairs and limited capacity in some, art fair sales advanced to 29% (including OVRs), up 7% in share year-on-year, but still nowhere close to the 43% reported in 2019. With the slow return to the full schedule of events and continuing focus on cost concerns, the number of art fairs at which dealers exhibited in 2021 ...
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Mar 1, 2023 · Total sales of fine art reached $15.9 billion in 2022, a roughly four percent decline from the $16.4 billion sold in 2021 but still the second highest annual total since 2018. That’s noteworthy ...
