The Art Market 2018: Global art market up 12% to USD 63.7 billion, after two years of decline, with mixed performances across sectors
Art Basel and UBS today published the second edition of the Art Basel and UBS Global Art Market Report. Written by renowned cultural economist Dr Clare McAndrew, Founder of Arts Economics, The Art Market 2018 presents the results of a comprehensive and macro-level analysis of the global art market in 2017. Last year, the global art market grew by 12%, reaching an estimated USD 63.7 billion, with the United States retaining its position as the largest market and China narrowly overtaking the United Kingdom in second place. In 2017, dealer sales increased 4% year-on-year to an estimated USD 33.7 billion, representing a 53% share of the market, while public auction sales increased 27% to USD 28.5 billion, a 47% share. Much of the uplift in sales in the auction and dealer sectors was at the top end of the market; away from the premium price segment, overall market performance was mixed. The full report is free to download on the Art Basel and UBS websites.
The Art Market 2018 is available for free download from artbasel.com/theartmarket.
We trust you will enjoy reading this report.
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