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artnet AG: artnet and the China Association of Auctioneers Publish the Global Chinese Art Auction Market Report 2018
artnet and the China Association of Auctioneers Publish the Global Chinese Art Auction Market Report 2018 Major changes in the Chinese art market signal shifting tastes and ongoing uncertainties. Berlin/New York, September 25, 2019-artnet, in collaboration with the China Association of Auctioneers (CAA), released the seventh edition of its Global Chinese Art Auction Market Reporton September 24, 2019. The annual report serves as a unique look into the 2018 Chinese auction market, using proprietary data and analysis to bring transparency to a historically opaque industry. In 2018, auction sales value in mainland China declined 17% year-over-year, totaling $4.2 billion, the lowest since 2010. This highlights a deceleration in China’s economic growth amid contentious trade talks with the United States. Additional key findings in the new report include: – Global auction sales of Chinese art and antiques totaled $6.4 billion in 2018, decreasing amid uncertainties in China’s economy. Notably, the U.S. saw a 36% decline in the total sales value of Chinese art and antiques year-over-year. – Traditional Chinese paintings and calligraphy, the largest collecting category in mainland China, experienced a major decline in 2018 with a 35% drop in total sales value. – By contrast, 20th-century and contemporary Chinese art had an outstanding year in the overseas market, achieving a 50% increase in total sales value, and a sell through rate of 69%. To download a copy of the 2018 Global Chinese Art Auction Market Report, click here. For additional insight into the art market, subscribe to artnet’s Price Database. About artnet End of Media Release Issuer: artnet AG Key word(s): Art
25.09.2019 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG. |
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