Art Basel's 2017 Global Art Market Report Released

Clare McAndrew
Clare McAndrew

In Hong Kong, Art Basel and UBS released The Art Market, a new annual global art market analysis available for free download. Authored by Dr Clare McAndrew, The Art Market covers all aspects of the international market and highlights the most important developments in the previous year.

McAndrew is a cultural economist who specializes in the arts, antiques and collectibles markets. She previously produced the TEFAF Art Market Report.

Key findings of the report show the global art market achieved total sales of an estimated USD 56.6 billion in 2016, down 11 percent from 2015. Dealer sales rose just under 3% on aggregate to reach USD 32.5 billion, although performance was mixed between sectors and segments. Sales at public auction of fine and decorative art and antiques came under pressure in 2016, with aggregate values falling by 26% to USD 22.1 billion.

The United States was again ranked in first place for global sales by value with a market share of 40%. The United Kingdom was the second largest global market with 21%, followed by China with 20%.

More News Feed Headlines

Bild mit weissen Linien by Wassily Kandinsky

Kandinsky Works Break Artist Record Twice in London Sale

  • June 22, 2017 16:50

Bloomberg reports: Wassily Kandinsky's 1913 canvas “Bild mit Weissen Linien (Painting With White ...

Read More

The Amon Carter Museum of American Art presents The Polaroid Project: At the Intersection of Art and Technology, through Sept.  3.  Mark Klett (b.  1952) Contemplating the view at Muley Point, Utah 1994, 1994.  Polaroid Type 55 negative.

ARTFIXdaily Closed for Maintenance, June 5-9

  • June 04, 2017 22:34

ARTFIXdaily will be closed for maintenance from June 5 to 9. E-newsletter service resumes on ...

Read More

Renoir, La Maison d’Essoyes (1906).  Private Collection.

Restored Renoir Home Will Open to the Public in June

  • May 24, 2017 14:38

A family home of French Impressionist Pierre-Auguste Renoir will open to the public on June 3 ...

Read More

Military man and his daughter looking at art at San Antonio Museum of Art, in the program Blue Star Museums, a collaboration among the National Endowment for the Arts, Blue Star Families, the Department of Defense, and more than 2,000 museums across America to offer free admission to the nation’s service members.

Trump's Official Budget Proposal Eliminates NEA

  • May 23, 2017 15:16

Similar to a "blueprint" set forth in March, President Donald Trump's official 2018 budget ...

Read More

Related Press Releases

Related Events from ArtfixDaily Calendar

 

ArtfixDaily Artwire