The Art Market 2018

Art Basel and UBS present The Art Market, an annual global art market analysis. The Art Market covers all aspects of the international market and highlights the most important developments in the previous year.

Access the Report

The Art Market 2018 is available for free download. Authored by Dr Clare McAndrew, founder of Art Economics, The Art Market 2018 aims to set a new benchmark for art market analysis. The report, an independent and objective study, analyses the global art market by looking at its different segments such as gallery business, auction houses, changing patterns of global wealth and art collecting, art fairs, online sales and the economic impact of the art market in general.

Read an exclusive interview with Dr Clare McAndrew here

To download The Art Market 2017, click here.

Key Findings

Sales in the global art market reached $63.7 billion in 2017, up 12% on 2016. The US was the largest market worldwide, accounting for 42% of sales by value, with China in second place (21%) and the UK the third largest market with 20%. Dealer sales in 2017 reached an estimated $33.7 billion, up 4% year-on-year.

Dealers reported that they made 46% of their sales at art fairs in 2017, up 5% on the average share reported in 2016. Art fairs continue to be a central part of the global art market, with aggregate sales estimated to reach $15.5 billion in 2017, up 17% year-on-year. 

About the Author

Dr Clare McAndrew is a cultural economist who specializes in the arts, antiques and collectibles markets. She completed her PhD in economics at Trinity College Dublin in 2001, where she also lectured and taught economics for four years. In 2002, Clare joined US firm Kusin & Company, a boutique investment banking firm specializing in art investment, as chief economist. After three years in the US, Clare returned to Europe in 2005, and continued her work in the art market in a private research and consulting capacity for a global client base.

She set up Arts Economics in 2005 to focus her efforts on art market research and analysis, and works with a network of private consultants and academic scholars in different regions around the world providing research and consulting services.