Artmarket.com has released the 24th Art Market Report which offers an analysis of global auction sales of fine art, including paintings, sculptures, drawings, photographs, print, videos, installations, tapestries – and NFTs – but excluding antiques, anonymous cultural property and furniture which covers the period from 1 January 2021 to 31 December 2021.
2021 has shown unprecedented market performance in the Art industry in spite of the tragedy of Covid 19, with online sales by Auction houses which increased by a whopping 720% worldwide over the two years marked by the pandemic. It’s safe to say that prior to the outbreak this level of growth was not anticipated, and it was expected to slowly increase to this level by 2027.
For the first time in history, artists were able to generate an income and gain more control over the sale of NFTs. Along with the innovation and integration of AR and VR (Augmented reality & Virtual reality) technologies, the improved services for art exhibitions, online transactions and promotion have created a better and more efficient online service for both customers and businesses alike.
The development of China’s Art market has also increased the popularity of NFTs, along with changes in the auction sector and millennials joining the art collection and investment have bought more opportunities to the art market in China and worldwide.
Last year it was estimated that $17 billion worth of artworks were exchanged around the world, which was a growth of over 60% compared to the previous year as art sales suffered the full impact of the first waves of the pandemic. However, looking back, it is obvious that this worldwide tragedy had an overall positive effect on the structure of auction houses and the quality of exchanges, which is reflected in the increased price levels and the increased number of works sold which reached a new record.
The UK has maintained third place in the geographical breakdown of auction turnover amongst competing countries such as China, the United States, France and Germany with an auction turnover of $1.9 billion
Frederick Charles Art was lucky enough to be part of the growth in the UK with an increase in lot sales with an average price of £25,730.00 down to a median price of £930.00.
Moving from strength to strength, Frederick Charles Art has developed internally to continue providing quality service to new and existing clients along with accessibility to original Artworks from some of the most talented British artists such as Alan Reynolds, Barry Flanagan, Dame Barbara Hepworth and Eileen Agar to name a few.
Frederick Charles Art is a Professional and Experienced Institution which has been helping people secure great art pieces from reputable dealers. Dealing with this institution will see you get a genuine art piece that is not only affordable but of high quality.
In addition to the company ensuring you get the right piece of Fine art that is appealing to your needs, these professionals will offer you pocket-friendly services so that you can comfortably afford them and collaborate with them again when in need of fine art pieces later in the future.
If you would like more information on the Art Market, Investment opportunities and more, contact the team at Frederick Charles.
+44 (0) 20 3137 1525
