Value of the UHNWI art and collectible wealth worldwide 2022-2026, by region

Ultra-high net worth individuals (UHNWI) are typically defined as individuals who have a net worth of more than 30 million U.S. dollars. In 2022, the total value of the art and collectible wealth of UHNWI worldwide amounted to approximately 2.17 trillion U.S. dollars. That year, North America accounted for the highest share of the market, with around 873 billion U.S. dollars in UNHWI art and collectible wealth. This figure was forecast to reach an estimated 1.1 trillion U.S. dollars in 2026. 

The global auction market

An important segment of the global art market, auctions are among the most common ways to acquire valuable artworks, antiques, and collectibles. In 2022, the sales value at public auctions of art and antiques worldwide reached nearly 27 billion U.S. dollars. When breaking down global public auction sales by country, the United States, China, and the United Kingdom emerged as the leading markets in 2022, generating together more than 75 percent of public auction sales worldwide.

What are the biggest auction houses in the world?

Christie's and Sotheby's, two auction houses founded in the UK in the 1700s, currently dominate the market, ranking as the auction houses with the highest sales value worldwide in 2022. That year, Heritage Auctions and Phillips, another auction house originally founded in the UK in the 18th century, followed in the ranking. In 2022, global sales of Phillips totaled 1.3 billion U.S. dollars, the highest figure reported by the company to date.