U.S. & China Dominate the Art Market

April 15 is World Art Day, a day dedicated to promoting the development and enjoyment of art.

The following chart looks at the results of public auctions of art works registered between January 1 and December 31, 2023 by Artron and Artprice, a company dedicated to the analysis of art market information from databases with millions of auction records. This study refers to auctions of paintings, sculptures, drawings, photographs, prints, videos, installations, tapestries and NFTs, and excludes antiques, anonymous cultural pieces and furniture.

According to Artprice, the U.S. market was the most dominant in the world in 2023, with 23 percent of global transactions and revenues of $5.2 billion. The world's second-largest art market, China, had a turnover of just under $5 billion.

Among last year's best-selling artists, the first place goes to Pablo Picasso, with 3,500 works sold, more than half of which were engravings that sold for less than $5,000 each. He is followed by Salvador Dalí (with 3,000 works) and Andy Warhol (1,900) completes the podium.

According to UNESCO, "art nurtures creativity, innovation and cultural diversity for all peoples across the globe and plays an important role in sharing knowledge and encouraging curiosity and dialogue."