Gazette Drouot logo print

Art Market Overview: China in Difficulties

Published on , by Agathe Albi-Gervy

The Chinese art market has been hit hard by the health crisis: as indicated by Artprice, auctions in Hong Kong were suspended until July, while on the mainland they only started up again in August.   

  Art Market Overview: China in Difficulties

In the end, the Chinese art market was brought to a standstill for over six months. While Fine Art sales in China brought in $4 billion during 2019, only 22% of this figure has been achieved since the start of the year. This performance may affect the position China occupies in global Fine Art sales—last year, the country accounted for 31% of sales worldwide in this sector. Contemporary art could be a powerful lever for growth here: in 2000, living artists only represented 4% of the local art market's value, compared with 25% today.

Gazette Drouot
Welcome La Drouot Gazette offers you 2 Articles.
You still have 1 article(s) left to read.
I subscribe