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Global art market slumps as Chinese auction sales plummet: data

The value of art sold at auctions globally fell by a third in 2024, dropping to $9.9 billion, the lowest since 2009, according to Artprice.
The Chinese market experienced a significant decline of 63 percent, shrinking to $1.8 billion from $4.9 billion in 2023, highlighting economic weakness.
Major art hubs saw declines, with New York down 29 percent, London down 28 percent, and Paris down 21 percent, driven by cautious collectors amidst economic uncertainty.
Experts note the decline is linked to global conflicts and high interest rates, impacting major collectors' willingness to buy, according to Thierry Ehrmann, founder of Artprice.

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Global art market slumps as Chinese auction sales plummet: data

The value of art sold at auctions globally fell by a third last year compared to 2023, with the Chinese market crashing by 63 percent, auction data published on Monday showed.

2 days ago

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theartnewspaper.com

Is the declining value of Old Masters due to a lack of education?

Tefaf Maastricht, which holds its 38th edition this month, is attempting to teach audiences about pre-20th century art. But brand obsession among young buyers and a global education crisis are creating barriers to its appreciation

1 day ago

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Folha de S.Paulo

Wars harm the art market, which fell 33.5% in 2024 - 10/03/2025 - Illustrated

The conflicts in Ukraine and the Middle East, in addition to international political uncertainty, affected the art market in 2024, which lost 33.5% of its turnover, registering US$ 9.9 billion (about R$ 57.3 billion, at the current price), according to the annual Artprice report published this Monday (10). It was the lowest sales volume since 2009, according to the company specializing in the analysis of artistic markets. The reduction affected …

2 days ago·São Paulo, Brazil

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Globo

Art market suffers from global instability and falls in 2024

Year had the lowest sales volume since 2009, according to consultancy firm Artprice. The conflicts in Ukraine and the Middle East, in addition to international political uncertainty, affected the art market in 2024, which lost 33.5% of its turnover, recording US$ 9.9 billion (R$ 57 billion), according to the annual Artprice report published this Monday (10). It was the lowest sales volume since 2009, according to the company that specializes in …

2 days ago·Brazil

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stern.de

Worldwide break-in at art auctions 2024

The value of works of art sold at auctions fell last year, especially as a result of the weakening economy in China. At $9.9 billion (EUR 9.1 billion), the sales value was no longer as low as in 2009 and one third below that of 2023, according to France-based consulting firm Artprice, which collects data from auctions around the world on Monday.The sharp decline in sales therefore affected all major art auction sites: in New York, the sales valu…

2 days ago·Germany

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Business Times

Global art market slumps as Chinese auction sales plummet

The value of art sold at auctions globally fell by a third last year compared with 2023, with the Chinese market crashing by 63 per cent, auction data published on Monday (Mar 10) showed.

2 days ago

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