The TEFAF Art Market Report 2014 – The Global Art Market with a focus on the US and China.
This report presents an analysis of the key trends in the global art market in 2013, focusing on the world’s largest art market the US and its fastest growing rival in recent years, China. In 2013, the international art market reached €47.4 billion in total sales of art and antiques, close to its highest ever recorded level and advancing 8% year-on-year. The US accounted for 38% of that value, followed by China with 24%. The US is the largest centre for domestic sales and a key entrepôt market for the international art trade. Together with the UK, it accounted for over 65% of all imports and exports of art and antiques around the world by value. Post War and Contemporary art was the largest sector of the art market in 2013 and included the highest priced works sold during the year, most of which were in New York.