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Ryan McGuire of Bells Design via flickr
In 2021, the market volume was $65.1 billion, up 29% from 2020 and $0.7 billion from the previous year. Art Basel and UBS' own estimates of the turnover of several dozen of the world's major galleries, as well as a poll of roughly 2,000 wealthy collectors in the United States, Europe, and Asia, are used to compile the study.
With a 43 percent share of the worldwide art market, the United States remains the most important region. China finished in second with 20% of the vote, putting the United Kingdom in third place with 17%. The French market saw the most substantial growth in 2021, with a 50 percent increase.
Art dealers remain the most popular sales channel in the industry; 76 percent of surveyed collectors purchased art from them in the previous year, with the balance purchasing art through various internet channels. Last year, NFT art sales totaled $2.6 billion, representing a 100-fold growth over the previous year.
source: artbasel.com
With a 43 percent share of the worldwide art market, the United States remains the most important region. China finished in second with 20% of the vote, putting the United Kingdom in third place with 17%. The French market saw the most substantial growth in 2021, with a 50 percent increase.
Art dealers remain the most popular sales channel in the industry; 76 percent of surveyed collectors purchased art from them in the previous year, with the balance purchasing art through various internet channels. Last year, NFT art sales totaled $2.6 billion, representing a 100-fold growth over the previous year.
source: artbasel.com
