The global art market bounced back in 2021, returning to its 2019 level and even slightly exceeding it. A real feat, while fairs and other market events are still a long way from reaching their pre-pandemic levels.
The latest report by the famous Clare McAndrew is out. Produced every year by UBS and Art Basel, this time it focused on the post-Covid art market. In nearly 280 pages, it provides a comprehensive overview of the market on an international scale, using data from numerous suppliers: Artory and Artron for auctions, ATG for auction platforms, NonFungible.com for NFTs and direct surveys of galleries and collectors with the help from its two partners. Perhaps the most startling discovery was the total disappearance of the Covid factor and a virtual return to "normal" in terms of turnover. With a total of $65.1 B, the global art market was back to its 2019 level ($64.4 B) and even a little higher. Over the last 13 years, the 2021 figure has only been exceeded, slightly, in 2014 ($68.2 B) and 2018 ($67.7 B). This is undeniably an excellent start, especially since the figure announced does…
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