This is a difficult year for the art trade.
Christie's reported global sales of $3.2bn for the first six months of 2023, 23% down on the same period last year.
Sotheby's declined to release its own half-year figures in July, suggesting its sales had also taken a downward turn.Sep 8, 2023.
If you didn't know already, the 4th quarter (October, November, and December) is the biggest art selling time of the year – with December being the pinnacle..
Regional Analysis.
North America holds the largest market share based on art sales.
The U.S. is a leading country in North America as well as the global art market.
According to Art Basel, the U.S. accounted for 42% of art sales, followed by the U.K. and China..
The global arts market size grew from $441.02 billion in 2022 to $579.52 billion in 2023 at a compound annual growth rate (CAGR) of 31.4%.
The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term..
The global art market totaled $67.8 billion in 2022, growing by 3% year-over-year and reaching its second-highest level to date, according to The Art Market 2023, authored by Dr.
Clare McAndrew, Founder of Arts Economics and published by Art Basel in partnership with UBS..
Regional Analysis.
North America holds the largest market share based on art sales.
The U.S. is a leading country in North America as well as the global art market.
According to Art Basel, the U.S. accounted for 42% of art sales, followed by the U.K. and China..
One way to ease into the business of selling art is to list your work on sites like Etsy, Big Cartel and the Fine Art Department on Amazon.
This approach is less hands-on than adding a shopping cart to your website.
These marketplaces collect the money and leave the pricing, packing and shipping to you..
Many platforms for selling your work as an independent artist online exist from Etsy and Zazzle to Creative Market and Instagram, not to mention directly through your own online store.
Follow along to learn how to sell art online and make money in 2023..
The U.S. strengthened its position as the center of the global art market.
Fine-art auction sales in the United States reached $2.6 billion in the first five months of 2023, down 25 percent from the equivalent period in 2022 but in line with or above the totals from 2021, 2020, and 2019..
This is a difficult year for the art trade.
Christie's reported global sales of $3.2bn for the first six months of 2023, 23% down on the same period last year.
Sotheby's declined to release its own half-year figures in July, suggesting its sales had also taken a downward turn.Sep 8, 2023.
The earliest substantial evidence of an art market in the West is from ancient Greek civilization and includes a cup by Phintias dating to approximately 500 bce that shows a young man buying a vase—possibly the earliest depiction of an art transaction..
Art markets can be divided into a primary and a secondary market.
The primary market is where works are first sold after they were created by an artist; the secondary market deals with any subsequent re-sales, whether through a dealer's private transaction or at auction..
The United States was the leading art market worldwide in 2022, generating 45 percent of the global art market value..
This is a difficult year for the art trade.
Christie's reported global sales of $3.2bn for the first six months of 2023, 23% down on the same period last year.
Sotheby's declined to release its own half-year figures in July, suggesting its sales had also taken a downward turn.Sep 8, 2023.
According to McAndrew, the U.S. accounted for nearly half of all art sales in 2021—around some $28 billion, per her previous 2022 art market report.
The new report reveals that the top five U.S. cities are New York, Los Angeles, San Francisco, Chicago, and Miami..
Regional Analysis.
North America holds the largest market share based on art sales.
The U.S. is a leading country in North America as well as the global art market.
According to Art Basel, the U.S. accounted for 42% of art sales, followed by the U.K. and China..
But for all the talk of an influx of new buyers into the global art market, since 2011, estimated annual sales have stayed between $68bn and $63bn, according to the Art Basel \& UBS Art Market report.
Last year, LVMH, the world's leading luxury goods group, achieved revenue of $85.9bn, an increase of 23% on 2021..
Overall, the total value of transactions in the art market worldwide amounted to 67.8 billion U.S. dollars in 2022, reaching the second-highest value reported in the past 15 years..
Overall, the total value of transactions in the art market worldwide amounted to 67.8 billion U.S. dollars in 2022, reaching the second-highest value reported in the past 15 years.Sep 6, 2023.
Art markets can be divided into a primary and a secondary market.
The primary market is where works are first sold after they were created by an artist; the secondary market deals with any subsequent re-sales, whether through a dealer's private transaction or at auction..
The Low Countries and Iberia.
In northern Europe the art market started to develop in the late 14th century.
It centred on the great mercantile cities of Flanders, such as Bruges; a court verdict of 1466 refers to shops, counters, and art dealers in that town..
The Low Countries and Iberia.
In northern Europe the art market started to develop in the late 14th century.
It centred on the great mercantile cities of Flanders, such as Bruges; a court verdict of 1466 refers to shops, counters, and art dealers in that town..
1980s: Booming Sales Worldwide
For the first time in history, the secondary art market was a global endeavour, and soaring prices showed no sign of relenting regardless of the 1987 stock market crash..
The United States was the leading art market worldwide in 2022, generating 45 percent of the global art market value.
That year, the United Kingdom ranked second, accounting for 18 percent of global sales..
Art galleries are the primary connection between artists and collectors.
At the high end of the market, a handful of elite auction houses and dealers sell the work of celebrity artists; at the low end artists sell their work from their studio, or in informal venues such as restaurants..
Etsy.
You can't talk about sites to sell art online without mentioning Etsy. Amazon.
These days, people buy just about everything on Amazon—and that includes art. Fine Art America. Saatchi Art. Shopify. TurningArt. Society6..
Gallery, dealer, consultant, and agent promotion as well as collectors acting as alpha consumers (trend-setters) are the forces at work in valuing primary market works..
The fact that they feel good and sense a strong connection with a piece is reason enough to buy it.
These collectors purchase art that they love, which speaks to them and is a visual expression of what they find meaningful.
Great Investment: Art is one of the best and oldest ways to invest your money..
There are a growing number of people who have an interest in a cultural object.
The demand is there, the offering is there, and with the help of technology, artists can increase their visibility and it is easier for potential buyers to search according to their tastes..
The Art Market – as we have known it since 1975 – appears to be reaching its structural limits:
Auction houses are struggling to maintain their operating margins and also to convince collectors to sell their best pieces. They are constantly increasing their buyer fees while simultaneously inventing new ways of reassuring sellers.
The art market is a marketplace of buyers and sellers trading in the services
Articles
And works of art commonly associated with the arts and cultural sector. It consists of the primary market – concerning artworks that are sold for the first time – and the secondary marketDealing with re-sales.
That year
Online sales of the art and antiques market worldwide accounted for approximately 16 percent of the total art market value. Sales volume in the art market worldwide from 2007 to 2022 (in millions) Sales value of the art market worldwide from 2007 to 2022 (in billion U.S. dollars)
New York remains the largest market With turnover of $ 1
322 million for some 30
000 lots sold
the United States dominated the art market once again in 2004. US auction houses accounted for 46.5% of the global fine art market compared with 42% in 2003And total turnover generated in the United States rose 45% in one year.
That year, online sales of the art and antiques market worldwide accounted for approximately 16 percent of the total art market value. Sales volume in the art market worldwide from 2007 to 2022 (in millions) Sales value of the art market worldwide from 2007 to 2022 (in billion U.S. dollars)
New York remains the largest market With turnover of $ 1,322 million for some 30,000 lots sold, the United States dominated the art market once again in 2004. US auction houses accounted for 46.5% of the global fine art market compared with 42% in 2003, and total turnover generated in the United States rose 45% in one year.
