ARTS ECOMONICS, UBS, ART BASEL: "THE ART MARKET 2021".

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Date of Publishing: 2021
No. of Pages: 352

The Art Market 2021 presents the results of research on the global art and antiques market in 2020. The report presents some of the key high-level trends in the global art trade, analyzing the performance of different regions, sectors, and value segments of the market, and assessing the impact of the COVID-19 pandemic on sales. The information presented in this study is based on data gathered and analyzed directly by Arts Economics from dealers, auction houses, collectors, art fairs, art and financial databases, industry experts, and others involved in the art trade. The Appendix offers an outline of some of the main data sources used in the report.

Chapter 1 provides an overview of the global market in 2020, reporting on the value, volume, and regional distribution of sales of art and antiques. It gives a brief overview of sales in the largest art markets over a 10-year period. The chapter also includes commentary on the effects of the change in the US administration on the market and the impact of the 5th Anti-Money Laundering Directive on auction houses and dealers in Europe.

Chapter 2 focuses on dealers and galleries, analyzing sales and other key indicators, assessing how the COVID-19 pandemic has impacted on different value segments and sectors of the market. This chapter looks at costs, margins, and debt in the sector as well as artist representation. It also addresses the changing priorities and outlook for dealers in 2021.

Chapter 3 looks at the auction sector, analyzing key trends in sales by region and value segment, and how they have been impacted by the pandemic in 2020. It presents a comprehensive analysis of some of the principal fine art auction sectors, describing their performance in terms of sales, regional market share, and price distribution.

Chapter 4 provides an overview of art fairs, reporting on the dramatic changes to the art fair calendar in 2020 and the impact this has on art fairs, galleries, and collectors. It assesses the outlook for 2021 given continuing uncertainties, presenting the results of surveys on high net worth (HNW) collectors, art fairs, and dealers.

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Contents:

1. The Art Market: Key Findings.
1.1. Overview of Global Sales. 
1.2. Global Market Share.
1.3. Regional Performance. 
2. Dealer Sales Key Findings.
2.1 Dealers Surveyed in 2020.
2.2 Dealer Sales.
2.3. Dealer Margins. 
2.4. Buyers.
2.5. Artist Representation.
2.6. Artist Representation by Career Stage.
2.7. Artists Gender and Representation.
2.8. Outlook for the Dealer Sector. 

3. Auction Sales: Key Findings 
3.1. Auction Sales in 2020.
3.2. Price Segmentation in Fine Art Auctions.
3.3. Fine Art Sectors.
3.4. Post-War and Contemporary Art.
3.5. Modern Art.
3.6. Impressionism and Post-Impressionism.
3.7. Old Masters and European Old Masters.
3.8. Conclusions.

4. Art Fairs: Key Findings
4.1. Art Fairs in 2020.
4.2. Art Fair Calendar and Cancellations in 2020.
4.3. Art Fair Survey 2020.
4.4. Impact on Gallery Exhibitions in 2020.
4.5. Art Fairs and HNW Collectors. 
4.6. Conclusions.

5. Online Sales: Key Findings.
5.1. The Online Art Market.
5.2. The Online Retail Market.
5.3. Online Auctions.
5.4. HNW Collectors and Buying Online.
5.5. Website Traffic and Social Media.
5.6. Conclusions.

6. Global Wealth and 6 Collector Perspectives: Key Findings.
6.1. Global Wealth in 2020. 
6.2. Wealth Distribution and Millionaires.
6.3. Billionaires.
6.4. Art Collectors Survey. 
6.5. Description of the Collector Sample.
6.6. HNW Collections of Art.
6.7. HNW Collectors’ Expenditure on Art in 2020.
6.8. Buying Channels for HNW Collectors in 2020.
6.9. Collector Motivations.
6.10. Collectors’ Outlook. 

7. Economic Impact and Conclusions: Key Findings.
7.1. Employment in the Art Market in 2020.
7.2. Dealer Sector Employment.
7.3. Auction Sector Employment.
7.4. Ancillary Economic Impact.
7.5. Conclusions.

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