2022-07-02-巴塞尔艺术展-2022年艺术市场报告（EN）_279页_9mb

The Art Market 2022 Summary

Core Content

The Art Market 2022 report, authored by Dr. Clare McAndrew of Arts Economics and produced in partnership with UBS, provides a comprehensive overview of the global art market in 2021, highlighting its recovery from the pandemic, the role of digital sales, and the evolving dynamics between dealers, auction houses, and collectors.

Key Findings

Global Art Market

• Total Sales: The global art market reached an estimated $65.1 billion in 2021, a 29% increase from 2020 and surpassing pre-pandemic levels of 2019.
• Market Recovery: The auction sector showed the strongest growth, with public auction sales increasing by 47% year-on-year. Private sales also rose by 32%, reaching $4.1 billion.
• Regional Performance:
  • The US was the largest market with 43% of global sales by value.
  • Greater China was second with 20%, while the UK dropped to 17%.
  • France had a 50% increase in sales, reaching $4.7 billion, its highest level in 10 years.
• Online Sales: Online sales grew by 7% to $13.3 billion, accounting for 20% of total art market sales. While the share decreased slightly from 30% in 2020, it remained more than double the level of 2019 (12%).
• NFTs: Art and collectibles NFTs saw significant growth, reaching $11.1 billion in 2021, up from $4.6 million in 2019. Art-related NFTs reached $2.6 billion, with 74% of HNW collectors purchasing art-based NFTs in 2021. The median expenditure on NFTs was $24,000, with 37% allocated to art.

Dealers

• Total Sales: Dealers' sales reached $34.7 billion, a 18% increase from 2020, though still below 2019 levels.
• NFT Sales: Only 6% of dealers sold NFTs in 2021, with 19% expressing interest in doing so in the next one to two years. 46% had no intention of selling NFTs, and 29% were unsure.
• Online Sales: Online sales accounted for 20% of dealer sales in 2021, down from 30% in 2020 but still above 2019 levels (12%).
• Art Fairs: Art fair sales represented 29% of total dealer sales, up by 7% year-on-year but still below the 43% of 2019.
• Profitability: 55% of dealers were more profitable in 2021 than in 2020, while 24% were less profitable.
• Strategies: Dealers increasingly adopted online strategies, with 74% using online sales and 57% engaging in both online and offline collaborations.

Auctions

• Total Sales: Auction sales totaled $26.3 billion, up by 47% from 2020 and 10% from 2019.
• NFTs in Auctions: NFT sales entered the auction sector, with Christie's reporting $150 million and Sotheby's reporting $80 million. Only 5% of second-tier auction houses sold NFTs, but 28% were planning to do so in the next one to two years.
• Market Segments:
  • Post-War and Contemporary Art: The largest sector, accounting for 55% of global fine art auction sales. Sales reached $6.7 billion, up by 42% year-on-year.
  • Modern Art: The second-largest sector by value, with a 22% share. Sales increased by 23% to $2.7 billion, including the record-breaking sale of Picasso's Femme Assise pres d'une Fenêtre (Marie-Thérèse) for $103.4 million.
  • Impressionism and Post-Impressionism: Sales totaled $1.6 billion, with a 15% increase in value.
  • Old Masters: Sales were $1.5 billion, showing steady growth.

Collectors

• HNW Collector Spending: Surveys of 2,339 HNW collectors across 10 markets revealed a significant increase in spending. The median expenditure rose from $72,000 in 2019 to $126,000 in 2020, and then more than doubled to $274,000 in 2021.
• Spending on Art: Just over one third of HNW collectors spent more than $1 million on art and antiques in 2021, up from 20% in 2020 and more than double the 2019 level.
• Digital Art: 11% of HNW collectors' spending was on digital art, with 5% of Gen Z and 4% of millennials spending over $1 million.
• NFTs: 74% of HNW collectors purchased art-based NFTs in 2021. The median number of NFTs purchased was 13, with $9,000 spent on art-related NFTs.
• Buyer Behavior: HNW collectors favored galleries and auction houses as primary purchase channels, with a strong preference for online platforms.

Outlook for 2022

• The market is expected to continue its recovery, with a focus on digital transformation, sustainability, and diversification.
• HNW Collectors: Increased interest in purpose-driven collecting and supporting underrepresented artists.
• Dealers: Anticipated growth in online sales and collaboration with digital platforms.
• Auctions: Continued integration of NFTs and digital assets into traditional auction formats.

Conclusion

The art market showed resilience in 2021, recovering from the pandemic's impact and adapting to new digital realities. While traditional sales channels like galleries and fairs rebounded, online sales and NFTs emerged as transformative forces, reshaping buyer behavior and market dynamics. The report underscores the importance of HNW collectors in driving the market, and highlights the ongoing shift towards digital engagement and innovation.