Art Fair’s Report on Art Market Says Art Fair Sales Now Peaking at $13.3bn

Clare McAndrew’s new art market report, co-published (whatever that means) by ArtBasel and UBS, has been released. It features a closer look at art galleries and how they conduct their business. The data was gathered through an online survey of approximately 1100 dealers and in-depth, in-person interviews with a smaller number of galleries.

(The report concedes, “While the survey revealed dealers with a wide range of levels of turnover, by the nature of the sampling process, it is skewed towards the middle to higher end of the market and does not account for the very many very small businesses, consultants and other agents in the market which do not belong to associations or exhibit at fairs.”)

Nonetheless, the report’s own chart on art fair sales shows a big leap in 2014 to an estimated $13bn average over the last three years.