The global art market was valued at $67.4 billion in 2018, the second highest year ever. The United States, United Kingdom and China are the three largest art markets in the world. Their sales combined make up 84% of the global art market. The auction house is one of the biggest drivers of the art market. Sales at public auctions exceeded $29 billion last year. Two auction houses—Christie’s and Sotheby’s— compete head to head each year capturing more than 40% of global auction sales.
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How Two Companies Dominate The $67 Billion Art World
Originally published at https://www.youtube.com/watch?v=xa06nroeXOE
originally published at Art - Trend Magazine
This news story originally appeared at Art - Trend Magazine on 26 April 2022