The worldwide artwork market was valued at $67.4 billion in 2018, the second highest yr ever. America, United Kingdom and China are the three large
The worldwide artwork market was valued at $67.4 billion in 2018, the second highest yr ever. America, United Kingdom and China are the three largest artwork markets. They account for 84% of the worldwide market, with the U.S. capturing over half of that.
Public sale homes are one of many greatest drivers of the artwork market. Gross sales at public auctions exceeded $29 billion final yr. 5 public sale homes mix for over half of the worldwide gross sales. And of these 5, two far surpass the others: Christie’s and Sotheby’s, which deal with greater than 40% of public sale gross sales.
Guests have a look at a portray entitled ‘Salvator Mundi’ by Faculty of Leonardo da Vinci throughout a press go to of the exhibition “Leonardo da Vinci” on the Louvre museum on October 22, 2019 in Paris, France. The portray offered at public sale by Christie’s for over $450 million on November 15, 2017.
Chesnot | Getty Photographs
Christie’s and Sotheby’s have wealthy histories. Sotheby’s was based in London in 1744 as a bookseller. In 1955, it grew to become the primary worldwide public sale home after establishing itself in New York. It will additionally turn out to be the primary worldwide public sale home to promote in Hong Kong, Russia, India and France. Till this yr, Sotheby’s was listed on the New York Inventory Change, a public firm for 31 years. Sotheby’s boasts workplaces in 40 international locations and 10 public sale areas, around the globe….