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The Art Market | 2017

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 2017 is available for free download. Authored by Dr Clare McAndrew, founder of Art Economics, The Art Market 2017 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.

To learn more about sources and methods, please click here.


Key Findings

The global art market achieved total sales of an estimated USD 56.6 billion in 2016, down 11 percent from 2015. Dealer sales rose just under 3% on aggregate to reach USD 32.5 billion, although performance was mixed between sectors and segments. Sales at public auction of fine and decorative art and antiques came under pressure in 2016, with aggregate values falling by 26% to USD 22.1 billion. The United States was again ranked in first place for global sales by value with a market share of 40%. The United Kingdom was the second largest global market with 21%, followed by China with 20%.


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.