{"id":61296,"date":"2025-04-09T13:34:00","date_gmt":"2025-04-09T09:34:00","guid":{"rendered":"https:\/\/magpie.ae\/staging4\/?p=61296"},"modified":"2025-04-09T19:15:59","modified_gmt":"2025-04-09T15:15:59","slug":"by-the-numbers-its-art-market-report-season-2","status":"publish","type":"post","link":"https:\/\/magpie.ae\/staging4\/by-the-numbers-its-art-market-report-season-2\/","title":{"rendered":"The art market in 2024: what else we learned"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Going through the three art market reports that have landed on magpie\u2019s desk in the last few days \u2013 Artprice.com\u2019s <a href=\"https:\/\/www.artprice.com\/artprice-reports\/the-art-market-in-2024\">The Art Market in 2024<\/a>; the <a href=\"https:\/\/theartmarket.artbasel.com\/\">Art Basel \/ UBS Art Market Report 2025<\/a>; and <a href=\"https:\/\/news.artnet.com\/market\/introducing-the-intelligence-report-the-year-ahead-2025-2620334\">The Intelligence Report: The Year Ahead 2025<\/a> by Artnet \u2013 <strong>meant we accumulated a large number of \u2026 well, numbers. Away from the main headlines, here are some that we found particularly interesting.<\/strong><\/strong><\/p>\n\n\n\n<div class=\"wp-block-getwid-advanced-heading has-custom-font-size\" style=\"font-size:25px\"><span class=\"wp-block-getwid-advanced-heading__content has-background\" style=\"padding-left:10px;background-color:#f9e7ec\">Dealers<\/span><\/div>\n\n\n\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items61296_077e67-65 kt-svg-icon-list-columns-1 alignnone kt-list-icon-aligntop\"><ul class=\"kt-svg-icon-list\">\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_890d8a-6f\"><span data-name=\"fe_archive\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">17%<\/mark> increase in sales<\/strong> year on year among the smallest dealers (turnover below $250,000pa) \u2013 the best performing category by dealer size <em><a href=\"https:\/\/theartmarket.artbasel.com\/\">Art Basel<\/a><\/em><\/span><\/li>\n\n\n\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_41f059-da\"><span data-name=\"fe_archive\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">24%<\/mark> <\/strong>proportion of <strong>dealers that have been in business for 10 years or less<\/strong> <em><a href=\"https:\/\/theartmarket.artbasel.com\/\">Art Basel<\/a><\/em><\/span><\/li>\n\n\n\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_096c41-7f\"><span data-name=\"fe_archive\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">75<\/mark><\/strong> median number of <strong>works sold by dealers<\/strong> in 2024 <em><a href=\"https:\/\/theartmarket.artbasel.com\/\">Art Basel<\/a><\/em><\/span><\/li>\n\n\n\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_c79425-3d\"><span data-name=\"fe_archive\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">85%<\/mark> <\/strong>share of dealer <strong>sales at $50,000 or less<\/strong> <em><a href=\"https:\/\/theartmarket.artbasel.com\/\">Art Basel<\/a><\/em><\/span><\/li>\n<\/ul><\/div>\n\n\n\n<div class=\"wp-block-getwid-advanced-heading has-custom-font-size\" style=\"font-size:25px\"><span class=\"wp-block-getwid-advanced-heading__content has-background\" style=\"padding-left:10px;background-color:#f9e7ec\">Buyers<\/span><\/div>\n\n\n\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items61296_8b4045-24 kt-svg-icon-list-columns-1 alignnone kt-list-icon-aligntop\"><ul class=\"kt-svg-icon-list\">\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_f9c6fd-34\"><span data-name=\"fas_shopping-cart\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">38%<\/mark> <\/strong>share of dealers\u2019 <strong>sales to new buyers<\/strong> (up 5% from 2023) <em><a href=\"https:\/\/theartmarket.artbasel.com\/\">Art Basel<\/a><\/em><\/span><\/li>\n\n\n\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_879608-65\"><span data-name=\"fas_shopping-cart\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">72<\/mark> <\/strong>average number of <strong>individual buyers<\/strong> that dealers sold to in 2024 (48 for smaller dealers turning over less than $250,000) <em><a href=\"https:\/\/theartmarket.artbasel.com\/\">Art Basel<\/a><\/em><\/span><\/li>\n<\/ul><\/div>\n\n\n\n<div class=\"wp-block-getwid-advanced-heading has-custom-font-size\" style=\"font-size:25px\"><span class=\"wp-block-getwid-advanced-heading__content has-background\" style=\"padding-left:10px;background-color:#f9e7ec\">Artists<\/span><\/div>\n\n\n\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items61296_91593a-eb kt-svg-icon-list-columns-1 alignnone kt-list-icon-aligntop\"><ul class=\"kt-svg-icon-list\">\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_2261e8-10\"><span data-name=\"fas_heart\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">23<\/mark> <\/strong>average number of <strong>artists represented by dealers<\/strong> (39 for those operating in both the primary and secondary markets) <em><a href=\"https:\/\/theartmarket.artbasel.com\/\">Art Basel<\/a><\/em><\/span><\/li>\n\n\n\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_a4b808-8b\"><span data-name=\"fas_heart\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">56%<\/mark> <\/strong>contribution to dealers\u2019 annual turnover coming from their <strong>top three artists<\/strong> <em><a href=\"https:\/\/theartmarket.artbasel.com\/\">Art Basel<\/a><\/em><\/span><\/li>\n<\/ul><\/div>\n\n\n\n<div class=\"wp-block-getwid-advanced-heading has-custom-font-size\" style=\"font-size:25px\"><span class=\"wp-block-getwid-advanced-heading__content has-background\" style=\"padding-left:10px;background-color:#f9e7ec\">Art fairs<\/span><\/div>\n\n\n\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items61296_8abff8-4c kt-svg-icon-list-columns-1 alignnone kt-list-icon-aligntop\"><ul class=\"kt-svg-icon-list\">\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_58484a-54\"><span data-name=\"ic_cloudy\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">10%<\/mark> <\/strong>increase in <strong>dealers\u2019 costs for exhibiting at art fairs<\/strong> in 2024 <em><a href=\"https:\/\/theartmarket.artbasel.com\/\">Art Basel<\/a><\/em><\/span><\/li>\n\n\n\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_d7354f-f8\"><span data-name=\"ic_cloudy\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">31%<\/mark> <\/strong>proportion of <strong>dealers who cut back on art fair exhibition<\/strong> in 2024 (they averaged three fairs each in the year) <em><a href=\"https:\/\/theartmarket.artbasel.com\/\">Art Basel<\/a><\/em><\/span><\/li>\n<\/ul><\/div>\n\n\n\n<div class=\"wp-block-getwid-advanced-heading has-custom-font-size\" style=\"font-size:25px\"><span class=\"wp-block-getwid-advanced-heading__content has-background\" style=\"padding-left:10px;background-color:#f9e7ec\">Women<\/span><\/div>\n\n\n\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items61296_7d02f0-b0 kt-svg-icon-list-columns-1 alignnone kt-list-icon-aligntop\"><ul class=\"kt-svg-icon-list\">\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_85c11c-19\"><span data-name=\"fas_female\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">9<\/mark> <\/strong>number of women among the 100 top-selling fine artists at auction in 2024 (it was 11 in 2023) <a href=\"https:\/\/news.artnet.com\/market\/introducing-the-intelligence-report-the-year-ahead-2025-2620334\"><em>Artnet<\/em><\/a><\/span><\/li>\n\n\n\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_48ceee-a1\"><span data-name=\"fas_female\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">63<\/mark> <\/strong>number of women in the Top 500 artists ranked by their annual auction turnover in 2024 <a href=\"https:\/\/www.artprice.com\/artprice-reports\/the-art-market-in-2024\"><em>Artprice<\/em><\/a><\/span><\/li>\n<\/ul><\/div>\n\n\n\n<div class=\"wp-block-getwid-advanced-heading has-custom-font-size\" style=\"font-size:25px\"><span class=\"wp-block-getwid-advanced-heading__content has-background\" style=\"padding-left:10px;background-color:#f9e7ec\">Auctions<\/span><\/div>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/magpie.ae\/staging4\/wp-content\/uploads\/2025\/04\/Untitled-Yellow-and-Blue-Mark-Rothko.webp\" alt=\"\" class=\"wp-image-61312\" style=\"width:255px;height:auto\"\/><\/figure>\n<\/div>\n\n\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items61296_ce2ffd-39 kt-svg-icon-list-columns-1 alignnone kt-list-icon-aligntop\"><ul class=\"kt-svg-icon-list\">\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_89cb1b-3d\"><span data-name=\"fas_gavel\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">9<\/mark> <\/strong>number of women among the 100 top-selling fine artists at auction in 2024 (it was 11 in 2023) <a href=\"https:\/\/news.artnet.com\/market\/introducing-the-intelligence-report-the-year-ahead-2025-2620334\"><em>Artnet<\/em><\/a><\/span><\/li>\n\n\n\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_8715d7-a9\"><span data-name=\"fas_gavel\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">63<\/mark> <\/strong>number of women in the Top 500 artists ranked by their annual auction turnover in 2024 <a href=\"https:\/\/news.artnet.com\/market\/introducing-the-intelligence-report-the-year-ahead-2025-2620334\"><em>Artnet<\/em><\/a><\/span><\/li>\n\n\n\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_d18503-47\"><span data-name=\"fas_gavel\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">10%<\/mark> <\/strong>proportion of art auction lots that sold for under $79 <a href=\"https:\/\/www.artprice.com\/artprice-reports\/the-art-market-in-2024\"><em>Artprice<\/em><\/a><\/span><\/li>\n\n\n\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_e01156-60\"><span data-name=\"fas_gavel\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">26.5%<\/mark><\/strong> average decline in fine art auction sales at the top three auction houses \u2013 Christie&#8217;s -18%, Sotheby\u2019s -38.1%, Phillips -23.5% <a href=\"https:\/\/news.artnet.com\/market\/introducing-the-intelligence-report-the-year-ahead-2025-2620334\"><em>Artnet<\/em><\/a><\/span><\/li>\n\n\n\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_32c565-19\"><span data-name=\"fas_gavel\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">7<\/mark><\/strong> the number of works by Jean-Michel Basquiat in the top 10 contemporary lots sold at auction in 2024 <a href=\"https:\/\/news.artnet.com\/market\/introducing-the-intelligence-report-the-year-ahead-2025-2620334\"><em>Artnet<\/em><\/a><\/span><\/li>\n\n\n\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_ae42ae-a3\"><span data-name=\"fas_gavel\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">$14m<\/mark><\/strong> the loss in value of Rothko\u2019s <em>Untitled (yellow and blue)<\/em> between its $46.4m sale at auction in 2015 and its $32.4m at Sotheby\u2019s Hong Kong in November 2024 <a href=\"https:\/\/news.artnet.com\/market\/introducing-the-intelligence-report-the-year-ahead-2025-2620334\"><em><a href=\"https:\/\/www.artprice.com\/artprice-reports\/the-art-market-in-2024\"><em>Artprice<\/em><\/a><\/em><\/a><\/span><\/li>\n<\/ul><\/div>\n\n\n\n<div class=\"wp-block-getwid-advanced-heading has-custom-font-size\" style=\"font-size:25px\"><span class=\"wp-block-getwid-advanced-heading__content has-background\" style=\"padding-left:10px;background-color:#f9e7ec\">The future<\/span><\/div>\n\n\n\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items61296_d051f8-5b kt-svg-icon-list-columns-1 alignnone kt-list-icon-aligntop\"><ul class=\"kt-svg-icon-list\">\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_894aa7-47\"><span data-name=\"ic_circleRight\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">33%<\/mark> <\/strong>proportion of art-trade businesses expected improving sales in 2025 (down 3% from 2023) \u2013 47% were hoping for a stable year, 19% anticipated a decline <a href=\"https:\/\/news.artnet.com\/market\/introducing-the-intelligence-report-the-year-ahead-2025-2620334\"><em><em><a href=\"https:\/\/theartmarket.artbasel.com\/\">Art Basel<\/a><\/em><\/em><\/a><\/span><\/li>\n\n\n\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-61296_3deaf9-a3\"><span data-name=\"ic_circleRight\" data-stroke=\"USE_PARENT_DEFAULT_WIDTH\" data-class=\"kt-svg-icon-list-single\" class=\"kadence-dynamic-icon\"><\/span><span class=\"kt-svg-icon-list-text\"><strong><mark style=\"background-color:#fce000\" class=\"has-inline-color\">42%<\/mark> <\/strong>proportion of dealers reporting \u2018political\/economic volatility\u2019 as their major challenge for the year. Second was \u2018relationships with existing customers\u2019 at 39%, third was \u2018costs of art fairs\u2019 at 34% <em><em><a href=\"https:\/\/theartmarket.artbasel.com\/\">Art Basel<\/a><\/em><\/em><\/span><\/li>\n<\/ul><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide\"\/>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\">Going through the three art market reports that have landed on magpie\u2019s desk in the last few days \u2013 Artprice.com\u2019s The Art Market in 2024; the Art Basel \/ UBS Art Market Report 2025; and The Intelligence Report: The Year <a class=\"mh-excerpt-more\" href=\"https:\/\/magpie.ae\/staging4\/by-the-numbers-its-art-market-report-season-2\/\" title=\"The art market in 2024: what else we learned\"> [&#8230; more]<\/a><\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"[]"},"categories":[221],"tags":[],"class_list":["post-61296","post","type-post","status-publish","format-standard","category-art-market"],"_links":{"self":[{"href":"https:\/\/magpie.ae\/staging4\/wp-json\/wp\/v2\/posts\/61296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/magpie.ae\/staging4\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/magpie.ae\/staging4\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/magpie.ae\/staging4\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/magpie.ae\/staging4\/wp-json\/wp\/v2\/comments?post=61296"}],"version-history":[{"count":0,"href":"https:\/\/magpie.ae\/staging4\/wp-json\/wp\/v2\/posts\/61296\/revisions"}],"wp:attachment":[{"href":"https:\/\/magpie.ae\/staging4\/wp-json\/wp\/v2\/media?parent=61296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/magpie.ae\/staging4\/wp-json\/wp\/v2\/categories?post=61296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/magpie.ae\/staging4\/wp-json\/wp\/v2\/tags?post=61296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}