[ad_1]
How has the Art Market Report evolved since its first edition and what major shifts have you observed over the past decade?
It has been a truly fascinating time to observe and record the market, with more changes having occurred in the past 20 years than possibly 100 years before that. The market has obviously grown a lot in size, and a big part of that has been its increasing global diversity. In the 1980s and 1990s, the vast majority of art sales were made in the US and Europe. But from the early 2000s onwards, the expansion in Asia – particularly the rapid growth of the Chinese market – really changed both the structure and the scale of the market. So today I’m measuring sales and activity across a much wider range of markets than I was 10 or 20 years ago.
The way sales are made has also shifted quite fundamentally. In the past, auction houses operated more like wholesalers to dealers, whereas now both auctions and galleries are active in direct and private sales. It has been amazing to watch and chart the rise of a much more event‑driven market, with major art fairs becoming key moments in the sales cycle and central to how many galleries do business. And more recently, particularly since the pandemic, there has been a big increase in e‑commerce.
[ad_2]
Source link
