Global art market

The global art auction market is valued at over $12 billion, led by the US, China and the UK markets

In 2012, global art auctions generated $12.269 billion, of which $5.068 billion was generated in China and $7.2 billion in the rest of the world

Accounting for 41 percent of the global share, China has the largest share of global fine art auction turnover in 2012. The next largest markets – the USA and UK trail behind with 27 percent and 18 percent of turnover share respectively.[1]

Australia is emerging as a player on the art auction scene. While 2012 revenue was estimated by Artprice at $82 million,[2] this represents an increase on 2004 revenue.

[1]   Indexed auction records are based on Fine Art and Design catalogued auctions (paintings, sculptures, drawings, photographs, prints, watercolors, etc) recorded by artprice.com, except antiques and furniture.

[2]   Note some differences in reported auction turnover for Australia exist between Artprice and Australia Art Sales Digest due to differences in definition and auction houses included in analysis.