In 2014 the global art market reached its highest ever-recorded level, a total of just over €51 billion worldwide, a 7% year-on-year increase taking it above the 2007 pre-recession level of €48 billion. The global art market was dominated by the three major art markets of the US (39%), China (22%) and the UK (22%), while by sector, Post War and Contemporary art continued to lead (with 48% of all fine art auction sales) with sales of Modern art accounting for 28% of the global fine art auction market. The TEFAF Art Market Report 2015 is a wide ranging report that examines the global art market in 2014 in detail, and also looks at individual sectors within the market, changing patterns of global wealth and art collecting, the growth of art fairs and online sales and finally the economic impact of the art market.
The report is available from TEFAF. Please click here (www.tefaf.com) to order a copy.