The Art Market 2020

Chapter 1 The Global Art Market in 2019

Chapter 1 provides an overview of the global market in 2019, reporting on the value, volume, and regional distribution of sales of art and antiques, with a review of performance in the decade beginning in 2010. It provides an overview of sales in some of the major national art markets over a 10-year period. The chapter also includes commentary on what trade integration tells us about the art market, with an analysis of US trade data over 30 years.

Key Findings

Global sales of art and antiques reached an estimated $64.1 billion in 2019, down 5% year-on-year, returning the market to just above its 2017 level.

Sales in the Global Art Market 2009–2019

The three major art hubs, the US, the UK, and China* continued to account for a majority of the value of global sales in 2019, although their share decreased slightly by 2% year-on-year to 82%.

Global Market Share of the US, UK, and China 2010–2019

The US was the largest market worldwide and accounted for 44% of global sales by value. Sales declined 5% year-on-year to $28.3 billion; however, the market remained at its second highest level in history.

Global Share by Value of US – 2019

US Art Market Sales 2018–2019

After two years of resilient growth given the country’s turmoil with the rollout of Brexit, the UK market declined by 9% in 2019 to $12.7 billion, accounting for 20% of the global market by value.

Global Share by Value of UK – 2019

UK Art Market Sales 2018–2019

Sales in China fell by 10% in 2019 to reach $11.7 billion, a second year of declining sales and accounting for 18% of the global market.

Global Share by Value of China – 2019

China Art Market Sales 2018–2019

France was the one major market to buck the declining trend, with sales advancing 7% in value to $4.2 billion, and increasing its global share from 6% to 7%.

Global Share by Value of France – 2019

France Art Market Sales 2018–2019

*The Chinese market (unless otherwise specified) refers to sales in mainland China, Hong Kong, Macau, and Taiwan.

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