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Mar 20, 2024 · Fine art sales at auction totaled just under $14 billion in 2023, down 12.7 percent year over year. The dip reflects a perfect storm of factors: interest-rate hikes, geopolitical uncertainty, and a wobbly stock market.
- What’s Really Happened in the Art Market This Year? See Which ...
Sales of art valued at more than $10 million shrunk 51...
- What’s Really Happened in the Art Market This Year? See Which ...
Aug 25, 2023 · Sales of art valued at more than $10 million shrunk 51 percent in the first five months of 2023 compared with the equivalent period in 2022. Experts say buyers became more price sensitive at the same time that the extraordinary material offered in the wake of the pandemic lockdown began to dry up.
Mar 13, 2024 · Total sales in the art market fell by 4% year over year to $65 billion. The figure represents the lowest since the COVID-blighted year of 2020, but is still higher than pre-pandemic levels when sales were $64.4 billion. Public auction and dealer sales also shrunk by 7% and 3% year over year, respectively.
Sep 9, 2024 · Speculators, who poured into the art market during the pandemic, are getting out and selling works they bought at the top of the market for pennies on the dollar.
Sep 8, 2023 · Research shows the big “brand” galleries are radically outselling their smaller counterparts at fairs. But compared with luxury goods, the art market is stagnant. Courtesy of Art Basel
- Scott Reyburn
Aug 4, 2023 · Amid a climate of economic uncertainty, climbing interest rates, and high inflation, recent auction results have reflected an art market in flux. ArtTactic reported an 18% decline in sales across Christie’s, Sotheby’s, and Phillips to $5.8 billion in the first half of 2023 compared to the same period last year—but slightly above pre ...
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Aug 30, 2018 · The best estimates put annual art sales at between 60 and 70 billion dollars a year , and transactions happen in galleries, at art fairs, through advisory services, and online.
