Kathryn Hart - New Dawn - Venice Biennale

Global Art Market Slows in First Half of 2019

  • October 14, 2019 16:10

  • Email
In the second half of 2019, Sotheby’s fall sales series in Hong Kong, with 3,423 lots sold across 20 auctions conducted over five days, brought a total of HK$3.35 billion / US$426 million – the sixth consecutive Hong Kong series to exceed US$400 million (Estimate: HK$2.5 – 3.57 billion / US$318 – 456 million).

The global art market slowed due to political and economic uncertainty in the first half of 2019, according to Deloitte’s Art & Finance Report.

Brexit woes, the U.S. trade war with China, and the Hong Kong protests are among the factors affecting the art market, the report states.

In the first six months of this year, global sales from the 3 biggest auctions houses, Christie’s, Sotheby’s, and Phillips, dropped to US$5.55 billion, down 20.3% from US$6.96 billion recorded in the first six months of 2018.

Advertisement

Sales declined 53% year-over-year to US$447 million during the first half of 2019 in the Chinese and Asian art market.

Read more at Barron's


  • Email

Advertisement

Advertisement

More News Feed Headlines

Empire State Building is lit green on Monday to celebrate the exhibition "Making Marvels" at the Met.

Empire State Building Sparkled Green to Draw Attention to A Special Exhibit at the Met

  • ArtfixDaily / November 18th, 2019

Gather the kids (young and old) for the ultimate in STEAM immersion: science, technology, engineering, art and math ...

Read More...
"Facing the Revolution: Portraits of Women in France and the United States ," on view March 24 to July 26, 2020.  Élisabeth Louise Vigée Le Brun (French, 1755 –1842).  Portrait of Mrs.  Chinnery , 1803.  Oil on canvas, 36 x 28 in.  (91.4 x 71.1 cm).  Eskenazi Museum of Art, Indiana University, 75.68

The Eskenazi Museum of Art’s $30 Million Renovation of I. M. Pei Building Opens With Suite of Exhibitions

  • ArtfixDaily / November 19th, 2019

After a two-and-a-half-year renovation, the Sidney and Lois Eskenazi Museum of Art reopened its doors on Nov. 7, ...

Read More...
Elizabeth Talford Scott.  Plantation.  1980.  The Baltimore Museum of Art: Collectors Circle Fund for Art by African Americans, Baltimore Appliqué Society Fund, and purchased as the gift of the Joshua Johnson Council, and Mr.  and Mrs.  Irvin Greif, Jr., Lutherville, Maryland, BMA 2012.226.  © Estate of Elizabeth Talford Scott

Baltimore Museum of Art Will Only Acquire Works by Women Artists in 2020

  • Baltimore Sun / November 17th, 2019

The Baltimore Museum of Art is taking its initiative to focus all its 2020 programs and exhibitions on women artists ...

Read More...
KERRY JAMES MARSHALL, “Vignette 19,” 2014 (acrylic on PVC, 71 3/4 by 60 inches / 182.2 by 152.4 cm).  Estimate $6.5 million-$7.5 million.  Sold for $18,488,000 with fees.

Kerry James Marshall Painting Brings $18.5 Million at Auction Amid Strong Prices For African American Artists

  • New York Times / November 17th, 2019

In the New York sales series last week an artwork at Sotheby's Contemporary Evening Sale stirred bidder interest like ...

Read More...

Related Press Releases

Cottone Auctions - Bid Live - Nov 23
Clarke Auction - Sunday November 24th - ClarkeNY.com
Schwenke Auctioneers - November Fine Estates Auction - November 20th

ARTFIXdaily Artwire