The Art Market | 2019

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 | 2019 is available for free download. Authored by Dr. Clare McAndrew, founder of Art Economics, The Art Market | 2019 aims to set a new benchmark for art market analysis. The report, an independent and objective study, analyzes 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 download The Art Market | 2018, click here.
To download The Art Market | 2017, click here.

Key Findings

  • Sales in the global art market in 2018 reached $67.4 billion, up 6% year-on-year.
  • Sales in the three largest markets of the US, the UK, and China accounted for 84% of the global market’s total value in 2018: The US was the largest market worldwide, accounting for 44% of sales by value. The UK regained its position as the second largest art market (21%) and China was the third largest with 19%.
  • Dealer and gallery sales in 2018 reached an estimated $35.9 billion, up 7% year-on-year. 
  • Sales at public auction of fine and decorative art and antiques (excluding auction house private sales) reached $29.1 billion in 2018, an increase of 3% year-on-year, and up nearly 30% on 2016.
  • Art fair sales were estimated to have reached $16.5 billion in 2018, a rise of 6% year-on-year, and accounted for 46% of dealer sales.
  • Online sales of art and antiques reached an estimated $6 billion, up 11% year-on-year and accounting for 9% of the value of the global market. 

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.