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Nachricht vom 25.09.2019 | 08:30

artnet AG: artnet and the China Association of Auctioneers Publish the Global Chinese Art Auction Market Report 2018

DGAP-Media / 25.09.2019 / 08:30

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
artnet is the leading resource for buying, selling, and researching art online. Founded in 1989, artnet's suite of industry-leading products has revolutionized the way people collect art today. The Price Database contains about 13 million auction results from 1,800 auction houses dating back to 1985, providing an unparalleled level of transparency to the art market. The Gallery Network platform connects leading galleries with collectors from around the world, offering the most comprehensive overview of artworks for sale. artnet Auctions was the first dedicated online marketplace for fine art, providing a seamless and efficient collecting experience for both buyers and sellers. artnet News covers the events, trends, and people shaping the global art market with up-to-the-minute analysis and expert commentary.

ISIN: DE000A1K0375

About CAA
The China Association of Auctioneers (CAA) is the only national association of the auction industry in China. The CAA is involved in regulating and supervising registered auction houses according to the laws outlined in the Auction Law of the People's Republic of China. Established in 1995, the CAA is the most important platform for fostering art market connections within China and with the rest of the world, making every effort to promote the development of China's auction industry and auction market.

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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