Artnet have released the Global Chinese Art Auction Market Report for 2020. As reported by Senior Market Editor Eileen Kinsella, it records only a 0.5% decrease in global revenue on the
previous year, generating a massive US$5.7 billion in auction sales.
Breaking the figures down regionally, Asia saw a sales value decline of 31% and North America experienced a significant drop of 44%. The figure was less alarming in Europe with a sales value decrease of 16% on a market share of lots sold increase from 30 to 37%.
Mainland China itself accounted for the majority of the sales revenue, at US$4.4 billion - a 15 percent increase from 2019.
The full report is available to download from the Artnet website.
Kinsella, E. (2021, November ). Demonstrating Resilience During the Pandemic, the Market for Chinese Art and Antiques Reaped $5.7 Billion Last Year, Our Report Found. Retrieved from Artnet: https://news.artnet.com/market/the-market-for-chinese-art-and-antiques-caa-report-2020-2035623