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How Two Companies Dominate The $67 Billion Art World

Published on 09 May 2022 by @0000

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CNBC 

 

 

The global art market was valued at $67.4 billion in 2018, the second highest year ever.

The United States, United Kingdom and China are the three largest art markets in the world.

Their sales combined make up 84% of the global art market.

The auction house is one of the biggest drivers of the art market.

Sales at public auctions exceeded $29 billion last year. Two auction houses—Christie’s and Sotheby’s— compete head to head each year capturing more than 40% of global auction sales.

 

Matthieu Michard

Matthieu Michard

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