巴塞尔艺术展：2022年艺术市场报告（EN）

TheArtMarket2022

AnArtBasel&UBSReport

PreparedbyDr.ClareMcAndrew

FounderofArtsEconomics

2

Index

1

2

3

TablesandFigures3

Acknowledgments9

Director’sForeword11

ForewordbyUBS12

KeyFindings

14

TheGlobalArtMarketin2021

KeyFindings21

1.1

|OverviewofGlobalSales

23

1.2

|RegionalMarketPerformance

28

1.3

|OnlineSales

36

1.4

|ArtandNFTsin202140

Dealers

KeyFindings61

2.1

|DealersSurveyedin202163

2.2

|DealerSales

68

2.3

|DealerMargins

80

2.4

|Buyers

84

2.5

|ArtFairs

89

2.6

|OnlineSalesandStrategies

104

2.7

|OutlookfortheDealerSector

115

Auctions

4

5

KeyFindings120

3.1

|AuctionSalesin2021122

3.2

|OnlineAuctionSales

135

3.3

|PriceSegmentationinFineArtAuctions

148

3.4

|FineArtSectors

156

3.5

|Post-WarandContemporaryArt

161

3.6

|ModernArt

171

3.7

|ImpressionismandPost-Impressionism

176

3.8

|OldMastersandEuropeanOldMasters

181

Collectors

KeyFindings189

4.1

|GlobalWealthin2021191

4.2

|WealthDistributionandMillionaires

195

4.3

|Billionairesin2021199

4.4

|HNWCollectorSurvey

203

4.5

|DescriptionoftheHNWCollector

Sample209

4.6

|TheContentofCollections

213

4.7

|ExpenditureonArtin2021220

4.8

|ExpenditureonDigitalArtandNFTs

229

4.9

|BuyingChannelsforHNWCollectors

in2021234

4.10

|HNWCollectorPerceptionsand

Motivations246

4.11

|HNWCollectors’Concernsin2021251

Outlook

KeyFindings254

5.1

|Conclusions255

5.2

|Outlookfor2022260

Appendix/Methodology–SourcesUsed

inTheArtMarket2022269

3

Index

1|TheGlobalArtMarketin2021

2|Dealers

3|Auctions

4|Collectors

5|Outlook

TablesandFigures

1TheGlobalArtMarketin2021

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

Figure1.1Figure1.2Figure1.3Figure1.4Figure1.5Figure1.6Figure1.7Figure1.8Figure1.9Figure1.10Figure1.11Figure1.12

SalesintheGlobalArtMarket2009–202125

GrowthinSalesbyValueintheGlobalArtandAntiquesMarket2009–202126

GlobalArtMarketSharebyValuein202128

GlobalArtMarketShareoftheUS,UK,andGreaterChina2012–202129

SalesintheMajorArtMarkets2009–202130

OnlineSalesofArtandAntiques2013–202136

ShareofOnlineSalesintheArtMarketversusGeneralRetail2016–202137

ShareofValueofArtandCollectiblesinAllNFTSales2019–202141

SalesofArtandCollectiblesNFTs2019–202142

ShareofPrimaryVersusSecondarySalesofArtNFTs2019–202143

ShareofPrimaryversusSecondarySalesofCollectiblesNFTs2019–202144

MonthlyValuesTradedinArtandCollectiblesNFTs2019–202245

2

Dealers

Figure2.1Figure2.2Figure2.3Figure2.4Figure2.5Figure2.6Figure2.7Figure2.8Figure2.9Figure2.10Figure2.11Figure2.12Figure2.13Figure2.14Figure2.15Figure2.16

AnnualSalesTurnoverofSurveyRespondentsin202165

Dealers’NumberofYearsinBusinessin202166

AverageChangeinSalesValuesbyDealerTurnoverSegment2020–202169

AverageandMedianSalesinthePrimaryversusSecondaryMarkets2020–202171

AverageChangeinTurnoverbyDealerSector2020–202173

FineArtDealers’ShareofSalesbyValueandMediumin202174

ShareofDealersSellingNFTsin202175

ShareoftheVolumeofSalesbyDealers2019–202176

ShareoftheVolumeofSalesbyPriceBracketin202176

Dealers’OutlookforSalesin202278

ShareofTotalCostsforDealers2020versus202181

Changein(Net)Profitability2020versus202182

NumberofBuyersin202185

ShareofDealerSalestoBuyerGroupsbyPurchaseHistoryin202186

ShareofDealerSalesbyBuyerTypein202187

ShareoftheValueofDealerSalesbySalesChannel90

4

Index

1|TheGlobalArtMarketin2021

2|Dealers

3|Auctions

4|Collectors

5|Outlook

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

Figure2.17

Figure2.18

Figure2.19Figure2.20Figure2.21Figure2.22Figure2.23Figure2.24Figure2.25Figure2.26

Figure2.27Figure2.28Figure2.29Figure2.30Figure2.31

Figure2.32Figure2.33Figure2.34

Auctions

Table3.1

Table3.2

Table3.3

Figure3.1Figure3.2Figure3.3Figure3.4Figure3.5

ShareoftheValueofArtFairSalesbyDealersbyYearandLevelofTurnover

2019–202191

AverageNumberofGalleryExhibitionsbyYearandLevelofTurnover

2019–202293

ArtFairsHeld2019,2020,and202194

NumberofArtFairsHeldbyRegionin2020and202196

ChangeinVisitorNumbers2019versus2021–SelectedFairs97

ChangeinExhibitorNumbers2019versus2021–SelectedFairs99

AverageNumberofArtFairsbyYearandLevelofTurnover2019–2022100

Dealers’OutlookforArtFairSalesin2022102

Dealers’ShareofOnlineSalesin2019,2020,and2021104

AverageShareoftheValueofDealerSalesMadeOnlinein2019,2020,and2021

byLevelofTurnover105

ShareoftheValueofOnlineSalesbyDealersbyBuyerCategoryin2021107

ShareofOnlineSalesbyBuyerCategoryandLevelofDealerTurnoverin2021108

OnlineStrategiesUsedbyDealersin2020,2021,andPlannedfor2022109

MostHelpfulOnlineStrategiesforDealersin2021110

ShareofDealersEngagedinOnlineandOfflineCollaborationsin2020,2021,

andPlannedfor2022113

Dealers’OutlookforOnlineSalesin2022115

Dealers’ViewsonthePermanenceofPandemic-LedChanges117

TopFiveBusinessPrioritiesforDealers2019–2023118

3

WebsiteMetricsofSelectedAuctionAggregatorsandAuctionHousesin2021142

AnnualGrowthandShareofAuctionSalesbyPriceSegment2019–2021151

GlobalMarketShare:OldMastersAuctionMarketin2021183

GlobalAuctionSales2019–2021123

GlobalPublicAuctionMarketSharebyValuein2021124

Second-TierAuctionHouseShareofSalesbySalesChannelin2021130

NumberofBuyersin2021bySecond-TierAuctionHouseTurnoverLevel131

ShareofSecond-TierAuctionHouseSalestoBuyersbyPurchaseHistory

in2021132

5

Index

1|TheGlobalArtMarketin2021

2|Dealers

3|Auctions

4|Collectors

5|Outlook

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

Figure3.6Figure3.7Figure3.8Figure3.9Figure3.10Figure3.11Figure3.12Figure3.13Figure3.14

Figure3.15

Figure3.16Figure3.17Figure3.18Figure3.19

Figure3.20Figure3.21Figure3.22Figure3.23Figure3.24Figure3.25

Figure3.26

Figure3.27

Figure3.28Figure3.29Figure3.30Figure3.31Figure3.32Figure3.33

ChangeinNetProfitsforSecond-TierAuctionHouses2021versus2020133

IncreaseinShareofOnline-OnlySales:Sotheby’s,Christie’s,andPhillips2009–2021136

ShareofOnlineSalesbySecond-TierAuctionHouseAnnualTurnoverin2021139

ShareofSalesviaATG’sArtandAntiquesPlatforms2020–2021140

ShareofSalesviaLiveA2019–2021140

ChangeinGlobalWebsiteTrafficRanking2017versus2021143

ShareofOnlineLotsSoldatFineArtAuctionsin2021144

ShareofOnlineLotsSoldatFineArtAuctionsin2021byPriceSegment145

ShareofOnlineLotsSoldinTotalSalesatFineArtAuctionsin2021by

PriceSegment146

ShareofLotsSoldandTotalValuesatFineArtAuctionsin2021by

PriceBracket148

GrowthofSalesbyValueinAuctionPriceSegments2005–2021150

MarketShareinAuctionPriceSegments2009–2021152

MarketShareoftheFineArtAuctionMarketbyPriceSegmentin2021153

MarketSharebyValueoftheFineArtAuctionMarket:SelectedYears

2000–2021158

MarketSharebySectoroftheFineArtAuctionMarketin2021159

Post-WarandContemporaryArtAuctionSales:2009–2021161

MarketShareofthePost-WarandContemporarySectorin2021162

SalesinthePost-WarandContemporarySectorKeyMarkets2009–2021163

SalesbyPriceBracketinthePost-WarandContemporarySectorin2021164

SalesofWorksbyLivingversusDeceasedPost-WarandContemporary

Artists2017–2021165

ShareofSalesbyLivingversusDeceasedPost-WarandContemporaryArtists

in2021166

ShareofSaleswithinthePost-WarandContemporarySectorin2021:

LivingandDeceasedArtists’Works167

ShareofSalesofLivingArtists’WorksbyPriceBracketin2021169

ModernArtAuctionSales2009–2021171

MarketShareoftheModernArtSectorin2021172

SalesintheModernArtSectorKeyMarkets2009–2021173

ShareofSalesintheModernArtSectorbyPriceBracketin2021174

ImpressionistandPost-ImpressionistAuctionSales2009–2021176

6

Index

1|TheGlobalArtMarketin2021

2|Dealers

3|Auctions

4|Collectors

5|Outlook

Figure3.34

|MarketShareoftheImpressionistandPost-ImpressionistSectorin2021177

Figure3.35

|SalesintheImpressionistandPost-ImpressionistSectorKeyMarkets

2009–2021178

Figure3.36

|SalesbyPriceBracketintheImpressionistandPost-ImpressionistSector

in2021179

Figure3.37

|OldMastersAuctionSales2009–2021182

Figure3.38

|SalesintheOldMastersSectorKeyMarkets2009–2021184

Figure3.39

|SalesintheOldMastersSectorbyPriceBracketin2021186

4Collectors

Figure4.1

|GrowthandEstimatesinRegionalandWorldGDP2008–2022193

Figure4.2

|ChangeinConsumerPrices(Inflation)andSalesintheArtMarket

2000–2022193

Figure4.3

|TheDistributionofWorldWealthin2021195

Figure4.4

|NumberandWealthofDollarMillionaires2012–2021196

Figure4.5

|GlobalShareofthePopulationofDollarMillionairesin2021197

Figure4.6

|NumberandWealthofBillionaires2008–2021199

Figure4.7

|GlobalShareofBillionairesin2021200

Figure4.8

|ChangesinBillionaireWealthDecember2020–December2021201

Figure4.9

|HNWCollectorSurvey:MarketSummaries204

Figure4.10

|HNWCollectors’AllocationtoArtinOverallPortfolioofWealthin2021209

Figure4.11

|LengthofTimeCollectingbyHNWCollectorLocation211

Figure4.12

|SizeofHNWCollectorCollections(NumberofWorks)in2021213

Figure4.13

|CollectionContent:ShareofWorksbyArtistStatusin2021216

Figure4.14

|CollectionContent:ShareofMaleversusFemaleArtists’Worksin2021217

Figure4.15

|CollectionContent:ShareofWorksbyMediumin2021218

Figure4.16

|ShareofHNWCollectorsHavingPurchasedArt,Collectibles,andLuxuryAssets

in2020and2021220

Figure4.17

|MedianNumberofPurchasesbyHNWCollectors2019–2021221

Figure4.18

|MedianValueofExpenditurebyHNWCollectors2019–2021222

Figure4.19

|ShareofHNWCollectorsSpendingover$1milliononArtandAntiques

byWealthLevel2019–2021223

7

Index

1|TheGlobalArtMarketin2021

2|Dealers

3|Auctions

4|Collectors

5|Outlook

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

|

Figure4.20Figure4.21Figure4.22Figure4.23Figure4.24Figure4.25Figure4.26Figure4.27Figure4.28Figure4.29Figure4.30Figure4.31Figure4.32

Figure4.33Figure4.34Figure4.35Figure4.36

Figure4.37Figure4.38

MedianExpenditurebyMaleversusFemaleHNWCollectors2019–2021225

MostCommonPriceRangeforPurchasingWorksofArtin2021226

ShareofHNWCollectorExpenditureonArtbyMediumin2021229

HNWCollectorAverageExpenditureonDigitalArtin2021230

ShareofExpenditurebyHNWCollectorsWhoBoughtNFTsin2021231

HNWCollectorExpenditureonNFTsbyGenerationin2021232

SalesChannelsusedbyHNWCollectorsforPurchasingin2021234

UseofOnlineChannelsforPurchasingbyGenerationin2021236

HNWCollectors’AverageShareofExpenditurebyChannelin2021237

HNWCollectors’FirstPreferencesforPurchasingArtin2021238

NumberofGalleriesHNWCollectorsPurchasedfromin2021239

PreferencesofHNWCollectorsforLocalversusOverseasGalleriesin2022241

ShareofGalleriesthatHNWCollectorsPurchasedFromin2021

byGalleryFocus242

HNWCollectorFocusRegardingGalleriesduring2021243

HNWCollectorFocusRegardingArtistsduring2021244

HNWCollectorProfilesin2021247

ShareofHNWCollectorsHavingResoldWorksfromTheirCollectionsin2020

and2021248

HNWCollectorMotivationsforSellingWorksfromtheirCollections249

Top10ConcernsofHNWCollectorsRegardingtheArtMarketin2021251

5

Outlook

Table5.1Figure5.1

Figure5.2Figure5.3Figure5.4

OutlookofHNWArtCollectorsovertheShort-,Medium-,andLong-Term261

HNWCollectorIntentionsforPurchasesandSalesofArtbyGeneration

in2022262

HNWCollectorIntentionsforPurchasesofArtbyMediumin2022263

Dealers’OutlookforSalesin2022264

Second-TierAuctionHouses’OutlookforSalesin2022265

8

Index

1|TheGlobalArtMarketin2021

2|Dealers

3|Auctions

4|Collectors

5|Outlook

Appendix

FigureA1.

|GeographicalDistributionofRespondentsin2021271

FigureA2.

|ShareofRespondentsbyReportedAnnualTurnover2019–2021272

FigureA3.

|AgeProfileofHNWCollectorsSurveyedin2021(AllMarkets)277

FigureA4.

|WealthLevelofHNWCollectorsSurveyedin2021(AllMarkets)277

9

Index

1|TheGlobalArtMarketin2021

2|Dealers

3|Auctions

4|Collectors

5|Outlook

Acknowledgments

TheArtMarket2022presentstheresultsofresearchontheglobalartandantiquesmarketin2021.TheinformationpresentedinthisstudyisbasedondatagatheredandanalyzeddirectlybyArtsEconomics()fromdealers,auctionhouses,collectors,artfairs,artandfinancialdatabases,industryexperts,andothersinvolvedinthearttrade.(TheAppendixoffersanoutlineofsomeofthemaindatasourcesusedinthereport.)

Iwouldliketoextendmygratitudetothemanysuppliersofdataandinsightsthatmakethisreportpossible.Acriticalpartofthisresearcheveryyearistheglobalsurveyofartandantiquedealers.IwouldliketosayaveryspecialthanksonceagaintoErikaBochereauofCINOA(ConfédérationInternationaledesNégociantsenOeuvresd’Art)forhercontinuedsupportofthisresearch,alongwiththepresidentsofthedealerassociationsaroundtheworldwhopromotedthesurveyamongtheirmembersin2021.ThanksalsotoArtBaselforhelpingtodistributethesurvey.Thecompletionofthisreportwouldnothavebeenpossiblewithoutthehelpoftheindividualdealerswhotookthetimetosupportthisresearchbycompletingthesurvey.Iamverygratefultothemallfortheircontinuedhelpa