Please consult the sales restrictions relating to the products or services in question for further information. The pace and scale of its growth, however, is something that was less foreseen. It was not just auction houses that witnessed growth in 2018: art fairs continued to play a central role in the global art market, with aggregate sales estimated to have reached $16.5 billion in 2018 – up 6% year-on-year. Artprice founder and CEO of ArtMarket.com: “The Art Market’s growth is based on confidence”, Founder and president of Artron Art Group – Founder of Art Market Monitor of Artron (AMMA), For full functionality of this site it is necessary to enable JavaScript. The online market witnessed continued growth, 5. The US retained its position as market leader, 2. The Art Market 2019 An Art Basel & UBS Report Prepared by Dr. Clare McAndrew Founder of Arts Economics. “A very positive finding of the research this year was the dynamism in collecting by global millennials,” comments McAndrew. Artprice by Artmarket's 2019 Annual Art Market Report shows continued growth with a all-time record number of transactions based on global confidence in the market, and the French market … In commercial terms, the trade in Contemporary artworks is today a veritable market within a market. The share of the total value of global dealer sales made at art fairs was 46%. Contents 3 Artist Representation and Gender Issues Key Findings 96 Global art sales reached an estimated $67.4 billion in 2018 – an increase of 6% on 2017, according to findings published in the third Art Basel and UBS Global Art Market Report. Despite political uncertainty surrounding Brexit, the UK regained its position as the second-largest market at 21%, with sales buoyed by non-EU trade: in 2018, sales rose by 8% to just under $14 billion. Deloitte & ArtTactic | Art & Finance Report 2019. High-value works had the greatest impact on this sum, accounting for 61% of total sales by value. In 2018, the US sustained its position as the world’s largest art market, accounting for 44% of sales by value – or a total of $29.9 billion, the highest recorded level to-date. This website uses cookies to make sure you get the best experience on our website. You are free to change your cookies' settings in the privacy settings. Year in review – key moments in the online art market 4 Hiscox online art trade report 2019 March 2018 The Artling launched an app with a custom-built augmented reality feature allowing users to view the artworks in real-time in their space . Analyst: Pages: 253; Art & Finance Report 2019 – 6th edition. The products, services, information and/or materials contained within these web pages may not be available for residents of certain jurisdictions. Sign up! Art Fairs continued to shape the global market. © UBS 1998 - 2020. executive summary The Art Basel and UBS Global Art Market Report 2019: 5 Key Insights, 1. The online market reached an estimated new high of $6 billion in 2018, representing 9% of global sales – up 11% year-on-year. You must have cookies enabled to use this website. Since launching the initiative in 2011, Deloitte and ArtTactic have seen the global art market ebb and flow: from the aftermath of the financial crisis to the peak of the market in 2016. Global art sales reached an estimated $67.4 billion in 2018 – an increase of 6% on 2017, according to findings published in the third Art Basel and UBS Global Art Market Report. ART MARKET BUDAPEST, the international art fair established in 2011 presents a unique artistic composition in a vibrant and exciting region and in one of the culturally most attractive cities in Europe, that gives an emphasized presence to fresh and inspiring galleries and artists including the now emerging stars of the future, and places new artistic inspirations in the focus. The 7th annual Hiscox Online Art Trade Report 2019 shows that online art market growth is steady but slowing, with more consolidation among online art platforms likely. Millennials emerged as active market participants, 3. The Contemporary Art Market report 2019 Fine Art auctions – painting, sculpture, drawing, photography, prints, installation & video. Online art market sales increased 9.8% in aggregate in 2018 to reach an estimated $4.64 billion, but the annual growth rate has slowed for the third consecutive year. You can find more information under the Privacy Statement. Dealer Figures: Sales in the dealer sector increased 7% year-on-year to an estimated $35.9 billion, … All rights reserved. the grand entry of the United States into Art History, and Contemporary Art, the highest auction turnover ever, instructions how to enable JavaScript in your web browser, Editorial by thierry Ehrmann, Artprice founder and CEO of ArtMarket.com: “The Art Market’s growth is based on confidence”, WAN Jie – Founder and president of Artron Art Group – Founder of Art Market Monitor of Artron (AMMA), Global assessment: strong and flexible demand, Old Masters, the originality of the French market, Chinese Painting and Calligraphy, better quality but fewer lots, 19th Century & Modern Art… few masterpieces, Post-War Art, the grand entry of the United States into Art History, Contemporary Art, beyond Europe and the United States, Chinese Oil Painting and Contemporary Art, the highest auction turnover ever, Ranking of the Top 500 artists by auction turnover in 2019, Euronext Paris (Euroclear: 7478 - Bloomberg: PRC - Reuters: ARTF), Confidentiality and personal data protection charter, Your rights and obligations as a user of our Marketplace. While economic and political issues drove risk-averse buyers and sellers towards private sales in the dealer market, sales of fine and decorative art and antiques at public auction still rose in value, reaching $29.1 billion – up 3% year-on-year, and nearly 30% on 2016. While respondents in the US were predominantly aged 50 and above, in Singapore, 46% of collectors surveyed were millennials, while in Hong Kong the figure was 39%. Editorial by thierry Ehrmann, Founder/CEO of Artprice by Art Market. The global art market shrunk by 5% in 2019 with a total of $64.1 billion in sales, according to economist Clare McAndrew’s report “The Art Market 2020,” released by Art … In 2019 the Future of the Art Market was launched with a significant research report and an Unconference. The Art Market in 2019 Editorial by thierry Ehrmann, Artprice founder and CEO of ArtMarket.com: “The Art Market’s growth is based on confidence” WAN Jie – Founder and president of Artron Art Group – Founder of Art Market Monitor of Artron (AMMA) The global art market shrunk by 5% in 2019 with a total of $64.1 billion in sales, according to economist Clare McAndrew’s report “The Art Market 2020,” released by Art … The report draws on data provided by market analysis firm ArtTactic, which surveyed 706 art buyers and 128 galleries and dealers; and interviewed 42 staff members at online art platforms. Collectively, millennials accounted for just under half (45%) of high-end spenders, underlining the importance of this demographic. Despite this, evidence of some buyer caution remains: a UBS and Art Economics survey of high-net-worth collectors in five markets revealed that just 4% had spent $1 million or more on a work of art online. The third edition of the annual report reveals a 6% increase in global art sales worldwide, with active buying by millennials and growing appetite for online sales. Art market 'The law has to fall on someone': Seller of allegedly fake Frans Hals must pay Sotheby's $5.3m for cancelled sale, judge insists. This statistic shows the global art market value from 2007 to 2019.