{"id":44948,"date":"2023-04-05T08:41:24","date_gmt":"2023-04-05T08:41:24","guid":{"rendered":"https:\/\/www.artrights.me\/the-art-market-2023-il-nuovo-report-sul-mercato-dellarte-di-art-basel-e-ubs\/"},"modified":"2023-04-05T09:00:42","modified_gmt":"2023-04-05T09:00:42","slug":"the-art-market-2023-report-by-art-basel-ubs","status":"publish","type":"post","link":"https:\/\/www.artrights.me\/en\/the-art-market-2023-report-by-art-basel-ubs\/","title":{"rendered":"The Art Market 2023. The new art market report from Art Basel and UBS"},"content":{"rendered":"\n

The Art Market 2023. The new art market report from Art Basel and UBS<\/strong><\/strong><\/h3>\n\n\n\n

Like every year, The Art Market 2023 arrives relentlessly, a report on the art market commissioned by Art Basel and UBS to the expert Clare McAndrew<\/em><\/p>\n\n\n\n

The report, a true beacon for understanding the trend of the art market, presents some interesting data and analyses, starting from an improvement in trade and market volumes on a global level.<\/p>\n\n\n\n

In fact, despite China’s zero covid policy, global artwork sales increased by 3% year-on-year to $67.8 billion, taking the market higher than before -pandemic in 2019.<\/p>\n\n\n\n

\"\"
Clare McAndrew is author of the UBS:Art Basel Art Market Report Courtesy of Art Basel:UBS<\/figcaption><\/figure>\n\n\n\n

After a strong recovery in sales of 31% in 2021 from a pandemic low a year earlier, results were more mixed in 2022, with variations in performance by sector, region and price segments led to lower growth.<\/p>\n\n\n\n

Transaction volume fell sharply during the pandemic in 2020 but recovered in 2021, with the number of sales increasing 19% to 37.3 million. In 2022, these increased only marginally (1%) to 37.8 million, due to more sales by retailers.<\/p>\n\n\n\n

The United States <\/strong>maintained its leading position for global sales, which increased by 2% year-over-year to 45%.<\/p>\n\n\n\n

The UK <\/strong>returned to second place with 18% of sales and China ‘s share <\/strong>decreased by 3% to 17%, returning to third position.<\/p>\n\n\n\n

At European level, France <\/strong>maintained its position as the fourth largest art market in the world with a stable share of 7%.<\/p>\n\n\n\n

After a strong recovery in sales of 31% in 2021 from a pandemic low a year earlier, results were more mixed in 2022, with variations in performance by sector, region and price segments led to lower growth.<\/p>\n\n\n\n

Transaction volume fell sharply during the pandemic in 2020 but recovered in 2021, with the number of sales increasing 19% to 37.3 million. In 2022, these increased only marginally (1%) to 37.8 million, due to more sales by retailers.<\/p>\n\n\n\n

The United States <\/strong>maintained its leading position for global sales, which increased by 2% year-over-year to 45%.<\/p>\n\n\n\n

The UK <\/strong>returned to second place with 18% of sales and China ‘s share <\/strong>decreased by 3% to 17%, returning to third position.<\/p>\n\n\n\n

At European level, France <\/strong>maintained its position as the fourth largest art market in the world with a stable share of 7%.<\/p>\n\n\n\n

\"\"
AKIRA-IKEZOE, ULTRAVIOLETA, IMAGE COURTESY ART BASEL<\/figcaption><\/figure>\n\n\n\n

ART ONLINE SALES<\/strong><\/h3>\n\n\n\n

The two-year period 2020-2022 was marked by a strong increase – in terms of presence and investments – in the online sector by auction houses, art galleries and large marketplaces.<\/p>\n\n\n\n

Despite this, as a result of the post-pandemic recovery, online sales fell to $11 billion, a 17% drop from the 2021 peak of $13.3 billion, but still 85% higher than in 2019.<\/p>\n\n\n\n

Online sales accounted for 16% of the total value of art market turnover in 2022, down from a 25% peak in 2020 and 4% lower than the global retail e-commerce share (20%) in 2022.<\/p>\n\n\n\n

\"\"
Marguerite Humeau, Clearing, image courtesy Art Basel<\/figcaption><\/figure>\n\n\n\n

CRYPTO ART AND NFT COLLECTIBLE SALES<\/strong><\/h3>\n\n\n\n

Also for this edition of the Art Market Report, Clare McAndrew takes into consideration the sales of Crypto Art and NFT collectibles. The report notes that after reaching a late 2021 peak of nearly $2.9 billion, sales of art-related NFTs on platforms outside the mainstream market have dipped to just under $1.5 billion, a down 49% year over year. Despite the significant drop in value, sales were still over 70 times those of 2020 (at just over $20 million). The decline in value was more pronounced for art-related NFTs than other segments, accounting for just 8% of the value of NFT sales on the Ethereum Blockchain Network in 2022 (versus 67% for collectible NFTs).q<\/p>\n\n\n\n

THE MARKET FOR DIGITAL ART, FILM AND VIDEO ART IS INCREASING<\/strong><\/h3>\n\n\n\n

While traditional mediums such as painting, sculpture and works on paper still dominate trade globally and account for 82% of trade in 2022, there is room for more as well.<\/p>\n\n\n\n

In fact, the sale of Digital Art, Film and Video Art rose from just 1% in 2021 to 5% in 2022. It should be noted that most of these sales (4%) were of digital art and almost all (99%) were sales associated with NFTs.<\/p>\n\n\n\n

A PHYGITAL FUTURE: BETWEEN ART FAIRS AND E-COMMERCE<\/strong><\/strong><\/h3>\n\n\n\n

In 2020, the fate of art fairs seemed sealed, between closures and the transition to online, with a consequent improvement in access to e-commerce.<\/p>\n\n\n\n

In 2022, on the other hand, there was a turnaround: in fact, despite the costs to be incurred by galleries to participate in trade fair events in every part of the globe, they have chosen not to give up the presence of their own stand.<\/p>\n\n\n\n

Sales at art fairs increased significantly in 2022, as dealers exhibited on average at the same number of fairs as in 2019. Sales thus increased from 27% of total sales in 2021 to 35% in 2022, but are remained significantly below pre -pandemic levels in 2019 (42%).<\/p>\n\n\n\n

Focusing on art e-commerce, after a rapid escalation of growth in 2020 to 39% of dealer sales, the share of online sales dropped to 22% in 2021 and again to 16% in 2022.<\/p>\n\n\n\n

GENDER EQUALITY: THE UNKNOWN ONE<\/strong><\/h3>\n\n\n\n

Although formally we continue to profess the achievement of gender equality, the data speak for themselves and tell another picture.<\/p>\n\n\n\n

The market presence of female artists remains consistently lower than their male counterparts. Price parity has also been slow to evolve. According to the report, the share of female artists represented by galleries was 39%, up from 37% in 2021. In the primary market alone, progress appears to have stalled over the past two years, with the share of female artists now at 42%. %, marginally down from the 44% achieved in 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"

Like every year, The Art Market 2023 arrives relentlessly, a report on the art market commissioned by Art Basel and UBS to the expert Clare McAndrew.<\/p>\n","protected":false},"author":4,"featured_media":44944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[252,6930],"tags":[],"class_list":{"0":"post-44948","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-art-world-en","8":"category-digital-art-news-en"},"yoast_head":"\nThe Art Market 2023 Report by Art Basel & UBS | Art Rights<\/title>\n<meta name=\"description\" content=\"Like every year, The Art Market 2023 arrives relentlessly, a report on the art market commissioned by Art Basel and UBS to the expert Clare McAndrew.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.artrights.me\/en\/the-art-market-2023-report-by-art-basel-ubs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Art Market 2023 Report by Art Basel & UBS | Art Rights\" \/>\n<meta property=\"og:description\" content=\"Like every year, The Art Market 2023 arrives relentlessly, a report on the art market commissioned by Art Basel and UBS to the expert Clare McAndrew.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.artrights.me\/en\/the-art-market-2023-report-by-art-basel-ubs\/\" \/>\n<meta property=\"og:site_name\" content=\"Art Rights | Proteggi & Valorizza la tua Arte\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/artrights.me\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-05T08:41:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-05T09:00:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.artrights.me\/wp-content\/uploads\/2023\/04\/AKIRA-IKEZOE_ULTRAVIOLETA_IMAGE_COURTESY_ART_BASEL.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1281\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"redazione\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@artrights\" \/>\n<meta name=\"twitter:site\" content=\"@artrights\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"redazione\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.artrights.me\/en\/the-art-market-2023-report-by-art-basel-ubs\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.artrights.me\/en\/the-art-market-2023-report-by-art-basel-ubs\/\"},\"author\":{\"name\":\"redazione\",\"@id\":\"https:\/\/www.artrights.me\/en\/#\/schema\/person\/301ec751f15311d1b793b5e06c87fc00\"},\"headline\":\"The Art Market 2023. 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