Artprice by Artmarket.com: 28th annual report - The Art Market in 2023. A new record number of artworks sold at auction. Biggest national marketplace: the USA. Female artists showed spectacular growth
Contemporary Art represents 17% of the art market, compared with 16% in 2022 and only 3% in 2000.
- Contemporary Art represents 17% of the art market, compared with 16% in 2022 and only 3% in 2000.
- The Contemporary art market has therefore increased 36-fold in 23 years, reflecting a historic phenomenon with Contemporary Art becoming a primary locomotive of the global art market.
- Modern art remained the largest segment of the art market, accounting for 40% of its auction turnover revenue (compared with 38% in 2022).
- When looked at over the longer term, it is clear that Brexit has negatively impacted the UK's art auction market.