2022 Art Market Report From Art Basel

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The following is the 2022 Art Market Report From Art Basel recommended by recordtrend.com. And this article belongs to the classification: Life data, research report.

Art Basel released the “2022 art market report”, which analyzed the new trends of the art market:

1. The global art market recovered strongly in 2021. The total sales of art and antiques by dealers and auction houses are estimated to reach US $65.1 billion, an increase of 29% over 2020, and the value exceeds the level before the epidemic in 2019.

2. In 2021, each market segment grew, but the auction sector saw the largest year-on-year increase, with public auction sales increasing by 47%. Private sales at auction houses increased by a little more than a third, and the value of the dealer market increased by 18%.

3. The U.S. market maintained a leading position, rising slightly to 43% of global sales in terms of value. Greater China ranked second in the art market with a 20% share, while Britain fell back to third with a 17% share.

4. The U.S. art market recovered strongly in 2021, with sales increasing by 33% and exceeding US $28billion. Sales in Greater China also increased by 35% to US $13.4 billion; The UK market increased by 14% year-on-year to US $11.3 billion. France’s growth was particularly strong, with sales up 50% year-on-year to $4.7 billion, the highest level in 10 years.

5. The online market will continue to expand in 2021, with an increase of 7%, estimated to reach US $13.3 billion. Online channels accounted for 20% of the sales of the art market, with a year-on-year decrease of 5%, but it was still more than twice that of 2019 (9%).

6. In addition to the $65.1 billion business in the art market, the sales of art and collectibles NFT also increased significantly in 2021. The sales of these two categories of NFT platforms on Ethereum, flow and ronin blockchain increased from $4.6 million in 2019 to $11.1 billion in 2021. The sales of art related NFT increased more than 100 times year-on-year to $2.6 billion.

7. In 2020, most art related NFT transactions (75%) were primary sales, but in 2021, the situation changed dramatically, with the value concentrated on resale (73%).

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