Global Art Market Trends

The much-anticipated Art Market Report delivered by The European Fine Art Fair (TEFAF) has been greatly improved. Through distilling a myriad of numbers, one can uncover some specific trends of interest for art dealers and for the future of art collecting.

Prof. Dr. Rachel A.J. Pownall, TEFAF Chair - Art Markets at the School of Business Economics at Maastricht University has compiled this comprehensive overview of the world’s art market. With a 29.5% share of the world’s market, the United States continues to be the single largest art market in the world. The U.K. with 24% and China with 18% follow closely.

The revelation of hidden offshore accounts through the Panama Papers, together with the volatile political situation where economic disparities are being highlighted worldwide are creating an interesting shift towards privacy and opacity. Collectors are returning to art dealers to sell artwork and to secure anonymity, scholarly advice, and stability.