The following is the 2021 contemporary art market report From Artprice recommended by recordtrend.com. And this article belongs to the classification: Life data, research report.
Jedi market counterattack, turnover record high!
At this year’s auction, contemporary works recorded a total turnover of $2.7 billion, which is incredible in the context of the global epidemic. The trading volume has been increasing, and more than 100000 works created by 34600 artists have been sold, and the market recovery momentum is stronger. These unprecedented figures have become new records to be broken.
2020-2021 data
The total turnover of contemporary art continues to grow. The $2.7 billion worth of works sold worldwide (60% in New York and Hong Kong) reveals a stronger, more diverse and more intensive market than ever before. 102000 contemporary works changed hands in 12 months, 10 times more than 20 years ago. This amazing achievement reflects the vitality of the art market, which is constantly conquering new buyers. The drop of 5 percentage points in the auction rate proves that the transaction is accelerating. Supply has never been so responsive to demand, and 70% of the works have been successfully sold.
Auction of contemporary art works by price range
Whether in terms of turnover (US $2 billion, which is 73% of the total global turnover) or turnover (42%), painting is still the leading category in the market. Paintings accounted for 82% of the million dollar auction, while sketch, watercolor and sculpture accounted for 6% respectively. In the fourth category, NFT art produced 9 million dollar works, three times more than photography.
The success of NFT art is not limited to soaring prices. In recent months, some works have sold for less than $1000 (a typical example is millon in Belgium). The same is true for the vast majority of contemporary works, of which nearly half are priced below $1000, and 90% are priced below the threshold of $20000.
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