Sales value at public auctions of art and antiques worldwide 2011-2023
The sales value at public auctions of art and antiques worldwide declined by 6.3 percent in 2023 over the previous year. Overall, the total value of transactions at global public auctions amounted to 25.1 billion U.S. dollars in 2023, decreasing by 1.7 billion U.S. dollars from 2022.
What are the biggest auction houses worldwide?
Two auction houses founded in the 18th century, Christie’s and Sotheby’s, are the giants of the global auction market, consistently ranking as the leading auction houses worldwide based on sales value. In 2023, Sotheby’s topped the list, earning roughly 1.7 billion U.S. dollars more than competitor Christie’s.
How much is the global art market worth?
The auction market is a pillar of the global art market, together with art dealers and art fairs. In 2023, sales in the art and antiques market worldwide reached approximately 65 billion U.S. dollars, reporting an annual decline. That year, the United States and China were the leading art markets worldwide. In 2023, these two countries combined accounted for over 60 percent of global art sales.