Chapter 3 looks at the auction sector, analyzing key trends in sales by region and value segment. It presents a comprehensive analysis of some of the principal fine art auction sectors, describing their performance in terms of sales, regional market share, and price distribution.
Sales at public auction of fine and decorative art and antiques (excluding auction house private sales) reached $24.2 billion in 2019, down 17% year-on-year as values decreased in the key global auction hubs. Despite the decline in public auction sales, private sales increased, including sales of over $1.8 billion at Christie’s and Sotheby’s.
Global Market for Public Auction Sales 2009–2019
The three largest auction hubs – the US, China, and the UK – maintained their dominant position in 2019 with a combined share of 84%, down 4% year-on-year.
Auction Market Global Share by Value in 2019