- sales in the global art market reached $45bn in 2016, up nearly 1.7% compared to 2015.
- Europe had sales exceeding $20.5bn
- Americas $14.5bn
- Asia almost $10bn
- US totalled 29.5%
- UK at 24%
- China 18%
Global Auction Sales
- $16.9bn down 18.8% on the 2015 figure $20.8bn
- Total volume (number of items) sold decreased by 21.5%
- US auction value dropped by 41% (far exceeding the 9% percent drop in consignments)
- a 13% drop in the value of auction sales in Europe (from $6bn in 2015 to $5.22bn in 2016).
- Asia now has the largest share of the global auction market at 40.5%, dominated by China
The report will be released on Friday but you can download a copy here: TEFAF Art Market Report 2017