The Art Market experiences tremendous growth and enters a new phase
After two consecutive years of adjustment, the Art Market has grown considerably in 2017 and thus entered a new phase. In 20 years, the global Art Market’s total auction turnover has increased fivefold and the value scale has considerably changed, with the all-time world record for an artwork peaking from $71 million in 1998 to $450 million in 2017.
This latest report reviews the gradual transformation of the Art Market and sheds light on its current organization. The thorough analysis of global auction results provides the most comprehensive overview and addresses the questions that art professionals, collectors and lovers have:
- Top auction prices, artists and auction houses
- Development of the Art Market and price growth of the artworks
- Geographic distribution and intensity of transactions
- Breakdown by artistic periods, mediums and artists’ nationalities
- Price structure and unsold rate
- The financial attractiveness of art, and the brand new index – Artprice100®
Our 20th Global Art Market Annual Report* is once again the result of an exclusive alliance between Artprice, the world leader in Art Market information, and Artron, the world leader in the processing of data and information from China. It provides an accurate image of the Art Market on a global scale and a clear analysis of the phenomenon of globalization that is irreversible, reveals the the Soft Power issues at stake, while also highlighting the booming Museum Industry®, the main driving factor of the Art Market’s tremendous growth in the 21st century.
*Auction results at public sales of Fine Art: paintings, sculptures, drawings, photographs, prints, videos, installations. Period analyzed: 1 January 2017 – 31 December 2017
See the full report for free (available in 6 languages) here: The Art Market in 2017.