Chapter 2 focuses on dealers and galleries, analyzing sales and other key indicators in different value segments and sectors of the market, and presenting an analysis of important areas such as profitability, inventories, financing and buyers. The Chapter looks at artist representation, focusing on issues such as gender, career stage and acclaim, and the cross-subsidization of sales. It also addresses gallery longevity and other key issues facing galleries in 2020.
Sales in the gallery and dealer sector were estimated to have reached $36.8 billion in 2019, growing just over 2% year-on-year.
Sales in the Gallery and Dealer Sector
The magnitude of the year-on-year changes varied widely: dealers with turnover between $500,000 and $1 million reported the biggest decline (–9%) and those with sales from $250,000 to $500,000 grew the most at 17%.
Changes in Aggregate Turnover by Dealer Turnover Segment 2018–2019