Skip to main content
- ›
data-vue-regional-dropdown aria-hidden="true">
The art market has proved more than once its resilience to global disruptions. Over the past 15 years, it managed to recover quickly from the hit of big economic challenges like those caused by the 2008 financial crisis and the impact of the coronavirus (COVID-19) pandemic. While the global art market value declined by 22 percent with the onset of the health crisis, it already bounced back in the following year, then reached its second-highest figure to date in 2022. Even though the increasing trend stopped in 2023, global art sales value remained above the figure from 2019, amounting to 65 billion U.S. dollars. Meanwhile, the sale volume in the global art market exceeded 39 million that year, being less than three percent shy of pre-pandemic levels.
What are the biggest art markets worldwide?
The United States has been firmly holding its position as the leading country in the global art market over the past decade, followed by China and the United Kingdom. These three markets cumulatively held nearly 80 percent of the total sales value in 2023. When focusing on public auction revenue of fine art and NFTs worldwide, the same countries topped the ranking again. In that case, however, a thinner margin divided the U.S. and China, by far the largest global hubs for fine art auctions.
The two giants of the global auction market
In terms of auction sales, two auction houses, both founded in London during the 18th century, dominate the market: Christie’s and Sotheby’s. After hitting the company’s record in 2022, total sales of Christie’s worldwide declined by 26 percent in 2023, reaching around six billion U.S. dollars. On the other hand, global sales of Sotheby’s decreased by less than 1.5 percent in 2023, totaling just under eight billion U.S. dollars. In 2023, Heritage Auctions, Bonhams, and Phillips followed as leading auction houses worldwide based on revenue, all generating sales below two billion U.S. dollars.
The online art market stays relevant, while NFT sales fell
The lockdowns enforced with the onset of the health crisis urged auction houses and dealers to strengthen their digital departments. Meanwhile, the sudden interest in crypto art and non-fungible tokens (NFTs) that exploded in 2021 gave a further boost to the online art market. While online sales of art and antiques skyrocketed in 2020, they slowed down in the following years but remained nearly twice as high as in pre-pandemic levels, totaling close to 12 billion U.S. dollars in 2023. This figure does not include the sales value of art and collectibles NFTs worldwide, which decreased by over 60 percent year-on-year. This suggests that while online art sales have managed to stay relevant even after the pandemic, the NFT art market will hardly follow the same trend. Rather, data on monthly NFT sales in the art segment suggest that it will reach a new normal, based on a more stable but much lower sales value than that recorded in 2021.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, May 16, 2024
Key insights
- Global art market value
- 65bn USD
Detailed statistics
Global art market value 2007-2023
- Volume of art transactions worldwide
- 39.4m
Detailed statistics
Volume of transactions in the art market worldwide 2007-2023
- Country with the highest share of global art market value
- United States
Detailed statistics
Global art market share 2023, by country
Get more insights
Editor’s Picks Current statistics on this topic
Further recommended statistics
Overview
4
- Premium Statistic Volume of transactions in the art market worldwide 2007-2023
- Premium Statistic Global art market value 2007-2023
- Premium Statistic Global art market share 2023, by country
- Premium Statistic Global art market share in the UK and EU-27 2016-2023
Overview
- Premium Statistic Volume of transactions in the art market worldwide 2007-2023
Volume of transactions in the art market worldwide 2007-2023
Sales volume in the art market worldwide from 2007 to 2023 (in millions)
- Premium Statistic Global art market value 2007-2023
Global art market value 2007-2023
Sales value of the art market worldwide from 2007 to 2023 (in billion U.S. dollars)
- Premium Statistic Global art market share 2023, by country
Global art market share 2023, by country
Distribution of the art market value worldwide in 2023, by country
- Premium Statistic Global art market share in the UK and EU-27 2016-2023
Global art market share in the UK and EU-27 2016-2023
Share of the global art market value held by the United Kingdom and the European Union (EU-27) from 2016 to 2023
Online art market
6
- Premium Statistic Global online sales of the art and antiques market 2013-2023
- Premium Statistic Growth rate of online sales in the art and antiques market worldwide 2014-2023
- Premium Statistic Share of global art buyers who bought art via online channels 2014-2022
- Premium Statistic Sales value of art and collectibles NFTs worldwide 2019-2023
- Premium Statistic NFT sales in the art segment worldwide in the last 30 days June 2024, by type
- Premium Statistic NFT sales value in the art segment worldwide in the last 30 days June 2024
Online art market
- Premium Statistic Global online sales of the art and antiques market 2013-2023
Global online sales of the art and antiques market 2013-2023
Total online sales of the art and antiques market worldwide from 2013 to 2023 (in billion U.S. dollars)
- Premium Statistic Growth rate of online sales in the art and antiques market worldwide 2014-2023
Growth rate of online sales in the art and antiques market worldwide 2014-2023
Annual growth rate of online sales in the art and antiques market worldwide from 2014 to 2023
- Premium Statistic Share of global art buyers who bought art via online channels 2014-2022
Share of global art buyers who bought art via online channels 2014-2022
Share of art buyers who bought art and/or collectibles online in the past 12 months worldwide from 2014 to 2022
- Premium Statistic Sales value of art and collectibles NFTs worldwide 2019-2023
Sales value of art and collectibles NFTs worldwide 2019-2023
Total sales value of art and collectibles non-fungible tokens (NFTs) worldwide from 2019 to 2023 (in million U.S. dollars)
- Premium Statistic NFT sales in the art segment worldwide in the last 30 days June 2024, by type
NFT sales in the art segment worldwide in the last 30 days June 2024, by type
Total number of sales involving a non-fungible token (NFT) in the art segment worldwide over the previous 30 days from April 15, 2021 to June 15, 2024, by type
- Premium Statistic NFT sales value in the art segment worldwide in the last 30 days June 2024
NFT sales value in the art segment worldwide in the last 30 days June 2024
Total value of sales involving a non-fungible token (NFT) in the art segment worldwide over the previous 30 days from April 15, 2021 to June 15, 2024 (in 1,000 U.S. dollars)
Auctions
8
- Premium Statistic Sales value at public auctions of art and antiques worldwide 2011-2023
- Premium Statistic Revenue at fine art and NFT auctions worldwide 2023, by country
- Premium Statistic Global fine art auction revenue distribution 2023, by sector
- Basic Statistic Leading artists worldwide 2023, by auction revenue
- Premium Statistic Leading Post-War artists worldwide 2023, by auction revenue
- Premium Statistic Leading ultra-contemporary artists H1 2023, by auction revenue
- Premium Statistic Leading Old Masters artists worldwide 2023, by auction revenue
- Premium Statistic Leading fine art auction sales worldwide 2023, by price realized
Auctions
- Premium Statistic Sales value at public auctions of art and antiques worldwide 2011-2023
Sales value at public auctions of art and antiques worldwide 2011-2023
Sales value at public auctions of art and antiques worldwide from 2011 to 2023 (in billion U.S. dollars)
- Premium Statistic Revenue at fine art and NFT auctions worldwide 2023, by country
Revenue at fine art and NFT auctions worldwide 2023, by country
Revenue at public auctions of fine art and NFTs worldwide in 2023, by country (in million U.S. dollars)
- Premium Statistic Global fine art auction revenue distribution 2023, by sector
Global fine art auction revenue distribution 2023, by sector
Distribution of fine art auction revenue worldwide in 2023, by sector
- Basic Statistic Leading artists worldwide 2023, by auction revenue
Leading artists worldwide 2023, by auction revenue
Leading artists worldwide in 2023, by auction revenue (in million U.S. dollars)
- Premium Statistic Leading Post-War artists worldwide 2023, by auction revenue
Leading Post-War artists worldwide 2023, by auction revenue
Leading Post-War artists worldwide in 2023, by auction revenue (in million U.S. dollars)
- Premium Statistic Leading ultra-contemporary artists H1 2023, by auction revenue
Leading ultra-contemporary artists H1 2023, by auction revenue
Leading ultra-contemporary artists worldwide in 1st half 2023, by auction revenue (in million U.S. dollars)
- Premium Statistic Leading Old Masters artists worldwide 2023, by auction revenue
Leading Old Masters artists worldwide 2023, by auction revenue
Leading Old Masters artists worldwide in 2023, by auction revenue (in million U.S. dollars)
- Premium Statistic Leading fine art auction sales worldwide 2023, by price realized
Leading fine art auction sales worldwide 2023, by price realized
Leading fine art auction sales worldwide in 2023, by price realized (in million U.S. dollars)
Auction houses
6
- Premium Statistic Leading auction houses worldwide 2023, by sales value
- Premium Statistic Fine art auction revenue of selected leading auction houses 2023
- Premium Statistic Global sales of Christie's 2006-2023
- Premium Statistic Global sales of Sotheby's 2004-2023
- Premium Statistic Global sales of Heritage Auctions 2017-2023
- Premium Statistic Global sales of Phillips auction house 2016-2023
Auction houses
- Premium Statistic Leading auction houses worldwide 2023, by sales value
Leading auction houses worldwide 2023, by sales value
Leading auction houses worldwide in 2023, by sales value (in billion U.S. dollars)
- Premium Statistic Fine art auction revenue of selected leading auction houses 2023
Fine art auction revenue of selected leading auction houses 2023
Fine art auction revenue of selected leading auction houses worldwide in 2023 (in million U.S. dollars)
- Premium Statistic Global sales of Christie's 2006-2023
Global sales of Christie's 2006-2023
Total sales of Christie's worldwide from 2006 to 2023 (in billion U.S. dollars)
- Premium Statistic Global sales of Sotheby's 2004-2023
Global sales of Sotheby's 2004-2023
Total sales of Sotheby's worldwide from 2004 to 2023 (in billion U.S. dollars)
- Premium Statistic Global sales of Heritage Auctions 2017-2023
Global sales of Heritage Auctions 2017-2023
Total sales of Heritage Auctions worldwide from 2017 to 2023 (in million U.S. dollars)
- Premium Statistic Global sales of Phillips auction house 2016-2023
Global sales of Phillips auction house 2016-2023
Total sales of Phillips auction house worldwide from 2016 to 2023 (in million U.S. dollars)
Art dealers
4
- Premium Statistic Share of art dealer sales value worldwide 2020-2023, by channel
- Premium Statistic Share of global art dealer sales 2023, by buyer type
- Premium Statistic Leading challenges for art dealers worldwide 2023-2024
- Premium Statistic Businesses in the art dealer industry in the U.S. 2013-2023
Art dealers
- Premium Statistic Share of art dealer sales value worldwide 2020-2023, by channel
Share of art dealer sales value worldwide 2020-2023, by channel
Distribution of art dealer sales value worldwide from 2020 to 2023, by channel
- Premium Statistic Share of global art dealer sales 2023, by buyer type
Share of global art dealer sales 2023, by buyer type
Distribution of art dealer sales worldwide in 2023, by type of buyer
- Premium Statistic Leading challenges for art dealers worldwide 2023-2024
Leading challenges for art dealers worldwide 2023-2024
Main challenges for art dealers worldwide in 2023/2024, with a forecast for the five years ahead
- Premium Statistic Businesses in the art dealer industry in the U.S. 2013-2023
Businesses in the art dealer industry in the U.S. 2013-2023
Number of businesses in the art dealer industry in the United States from 2013 to 2022, with a forecast for 2023
Art collectors
7
- Premium Statistic Value of the UHNWI art and collectible wealth worldwide 2022-2026, by region
- Premium Statistic Share of affluent consumers buying art and collectibles worldwide Q4 2023, by age
- Premium Statistic Share of works held in HNW art collections globally H1 2023, by medium
- Premium Statistic Median expenditure of HNW collectors on art worldwide 2021-H1 2023, by market
- Premium Statistic Leading channels used by HNW art collectors to purchase art worldwide H1 2023
- Premium Statistic Art buying preferences worldwide 2014-2022, by purchasing method
- Premium Statistic Art buyers' main motivations for purchasing art worldwide 2020-2023
Art collectors
- Premium Statistic Value of the UHNWI art and collectible wealth worldwide 2022-2026, by region
Value of the UHNWI art and collectible wealth worldwide 2022-2026, by region
Total value of the art and collectible wealth of ultra-high-net-worth individuals (UHNWI) worldwide in 2022, with a forecast for 2026, by region (in billion U.S. dollars)
- Premium Statistic Share of affluent consumers buying art and collectibles worldwide Q4 2023, by age
Share of affluent consumers buying art and collectibles worldwide Q4 2023, by age
Share of affluent consumers that purchased art and collectibles worldwide as of 4th quarter 2023, by age
- Premium Statistic Share of works held in HNW art collections globally H1 2023, by medium
Share of works held in HNW art collections globally H1 2023, by medium
Share of works held in collections of high net worth (HNW) art collectors worldwide in 1st half 2023, by medium
- Premium Statistic Median expenditure of HNW collectors on art worldwide 2021-H1 2023, by market
Median expenditure of HNW collectors on art worldwide 2021-H1 2023, by market
Median expenditure of high net worth (HNW) collectors on art and antiques in selected art markets worldwide from 2021 to 1st half 2023 (in 1,000 U.S. dollars)
- Premium Statistic Leading channels used by HNW art collectors to purchase art worldwide H1 2023
Leading channels used by HNW art collectors to purchase art worldwide H1 2023
Leading channels used by high net worth (HNW) art collectors to purchase art and antiques worldwide in 1st half 2023
- Premium Statistic Art buying preferences worldwide 2014-2022, by purchasing method
Art buying preferences worldwide 2014-2022, by purchasing method
Preferred channel to purchase art among art buyers worldwide from 2014 to 2022
- Premium Statistic Art buyers' main motivations for purchasing art worldwide 2020-2023
Art buyers' main motivations for purchasing art worldwide 2020-2023
Important motivations when purchasing art among art buyers worldwide from 2020 to 2023
Get the best reports to understand your industry
Contact
Get in touch with us. We are happy to help.
Meredith Alda
Sales Manager– Contact (United States)
Tel
+1 914 619-5895
Mon - Fri, 9am - 6pm (EST)
Yolanda Mega
Operations Manager– Contact (Asia)
Tel
+65 6995 6959
Mon - Fri, 9am - 5pm (SGT)
Kisara Mizuno
Senior Business Development Manager– Contact (Asia)
Mon - Fri, 10:00am - 6:00pm (JST)
Lodovica Biagi
Director of Operations– Contact (Europe)
Tel
+44 (0)20 8189 7000
Mon - Fri, 9:30am - 5pm (GMT)
Carolina Dulin
Group Director - LATAM– Contact (Latin America)
Tel
+1 212 419-5774
Mon - Fri, 9am - 6pm (EST)
Yes, let me download!
...and make my research life easier.
