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The 2024 Global Art Market Report

Our 30th Artprice Annual Report deciphers the underlying dynamics of the global art market and represents an unprecedented insight into the trends, developments and perspectives that will shape the art market of tomorrow.

Artprice and Artron join forces to present a detailed analysis of the global art market.

Click here to download our 2024 Global Art Market Report for free

“Artprice's 30th annual report summarizes the impacts of the centenary anniversary of Surrealism and the ongoing revaluation of women artists and highlights the market places that are growing in Switzerland, Saudi Arabia, India and, of course, online, the latter being key for reaching collectors around the world. These developments prove that the art market is actually more dynamic and diverse than ever, even if the high-end segment has slowed considerably.”

Thierry Ehrmann, President and founder of Artprice by Artmarket

“In 2025, Artron will continue its hand-in-hand collaboration with Artprice to combine technological innovation and data intelligence. This collaboration will facilitate the development of new ‘silk roads’ between the Eastern and Western art markets and foster a greater level of cultural exchanges. It will also contribute to the preservation of our global artistic heritage and the promotion of art on a global scale.”

Wan Jie, Founder and CEO of Artron Art Group and Founder of Artron Research Academy of Arts (ARAA)

With a lot fewer major works for sale and some heavy price adjustments on certain signatures, 2024 was a difficult year for the art auction market. But by opening its base to a wider audience with better acquisition opportunities, it also revealed the emergence of a number of promising foundations for the market’s future. Artprice has just published its 30th Annual Art Market Report which takes stock of the global situation and highlights the market’s positive developments.

Designed as a reference tool, it offers professionals, seasoned collectors and curious enthusiasts a clear reading of the trends that have been shaping auction sales, the strengths and weaknesses of the market, along with its current mutations and future prospects.

A global slowdown with lower turnover, but a record number of transactions and dynamism which has continued to grow since 2000

2024 was a difficult year for the art market. Between geopolitical uncertainties and economic tensions, the market suffered a clear slowdown, particularly in the premium segments in New York, London, Paris, Hong Kong, Shanghai and Beijing.

Although the exact causes are difficult to identify, there can be no doubt that an unfortunate cocktail of global tensions prompted the world’s wealthiest art buyers to prefer caution over enthusiasm and sellers to procrastinate. The net result was that masterpieces became extremely rare on the market, which in turn undermined the ultra-premium segment – the traditional driver of the art auction market – amplifying a contraction that began in 2023.

In total the global art auction market generated $9.9 billion, a year-on-year decline of 33.5%, mainly as a result of a decrease in the number of results above the million-dollar threshold. However, 2024 also stands out as being the most dynamic year in the history of the global art market, with 1.2 million works put up for auction and 804,350 lots sold. This transactional dynamism was not enough to offset the overall erosion in global art auction turnover, but illustrated a trend we have been seeing without interruption since 2000: the expanding base of the global art market.

Behind this dynamic, a multitude of indicators offer a precise reading of the market: the sold -through rate, the structuring of sales, the distribution by country or city, price fluctuations and new auction records... all indicators of market sentiment, current dynamics and future transformations.

The Artprice Global Art Market Report

Artpice’s 30th Annual Report provides keys to understanding the structure of the art market, its changes and its prospects via an intelligent analysis of more than 804,500 works auctioned around the world in 2024, enriched with specific examples and a number of key rankings, including our famous 500 top-selling artists and our Top 100 results of the year.

The Report also includes a special section compiled by our Chinese state partner Artron – chaired by Wan Jie, and its ARAA department (Artron Research Academy of Arts) – focusing on China’s principal art market hubs, Beijing, Shanghai and Hong Kong.

Designed as a reference tool for all players in the art market and art enthusiasts in general, this Annual Report is available for free in PDF format, in French, English and Chinese.

Sections:
Click here to consult the 2024 Global Art Market Report for free
Dissecting the slowdown: what’s behind it?
Artron’s insight into the Chinese Art Market
Seoul, Bern, Riyadh… Is the geography of the art market changing?
Highlights of the year: Surrealists and female artists
Top 500 artists by annual auction turnover
Top 100 art auction results

Artprice by Artmarket

Considered the Bible of collectors and art dealers around the world, Artprice was born almost 30 years ago from a desire to revolutionize the art market by making it transparent. Since then, Artprice has very substantially broadened public access to art market information that was formerly reserved for insiders.

All prices indicated in this Artprice by Artmarket report refer to public auction results, including buyer’s premiums. All $ references refer to US dollars.

Despite a lower level of auction turnover, our round-up of the art market’s activity in 2024 is essentially positive because sales were up sharply (+5%) generating a record number of works.

Indeed in volume terms, 2024 was the most dynamic year in the history of the global art market with 1.2 million works offered and 804,350 sold. In total the global art auction market generated $9.9 billion, a year-on-year decline of 33.5%, mainly as a result of a decrease in the number of results above the million-dollar threshold. The transactional dynamism was not enough to offset the overall erosion in global art auction turnover, but it nevertheless illustrated a trend we have been seeing without interruption since 2000: the expanding base of the global art market.

According to thierry Ehrmann, CEO of Artmarket.com and Founder of Artprice: The expansion of the art market is the result of the spectacular growth of auction operators on the Internet with, on the one hand a 720% increase in online marketing of auction sales, and, on the other hand, ‘live’ sales which have increased by 210% worldwide, since the COVID pandemic. Such growth was previously expected around 2027-2029.

In value terms, the United States maintains its first place with 39% of the global art market.

The European Union (excluding the UK) is now the world leader in terms of transaction volumes and number 2 in terms of value with 18.5%, corresponding to its rank as the 3rd global economic power with a GDP of $16,970 billion in 2023.

China, with 18.4% of the global market share, is practically on a par with the European Union (excluding the UK).

These three leading powers make the art market a genuine soft power battleground where a strong comeback by China cannot be ruled out, as it has already demonstrated in the past by ranking number one.

The United Kingdom maintained its third place (on a country-by-country basis) with 15% of the global market.

France remained in fourth place, with just 7% of global turnover, but it set three records in 2024: a) it ranked second worldwide in terms of transactions, just behind the USA. b) Paris was the 4th global market place, overtaking Beijing & Shanghai, and c) France was the leading European art market in terms of turnover.

When Artprice presented its 30th Annual Art Market Report (2024) to Mme Rachida Dati, France’s Minister of Culture, she made the following comments:

"I am delighted to see France become the leading European art market. We owe this dynamism to the major international art fairs, galleries, auction houses, our cultural institutions and of course our artists: it is all of these energies that we must unite so that France continues to attract and shine throughout the world."

Transparency and data continuity: from historical archives to ‘Intuitive Artmarket®’ AI

Artmarket by Artprice is owned by Groupe Serveur (founded in 1985), which is its principal and founding shareholder. Artmarket.com is the art market’s leading global player and its Artprice department is the world leader in databases on art prices and market indices with more than 30 million indices and sales results covering more than 865,000 artists.

Artprice Images® allows unlimited access to the world’s largest collection of historical art market documents, a physical library containing original manuscripts, codices, books and annotated auction catalogs, forming 210 million images or engravings of artworks from 1700 to the present day. This archive represents a veritable ‘Library of Alexandria’ and is 100% owned by Artprice by Artmarket whose historians and experts have annotated, analyzed and scanned the entire collection.

Artmarket, with its Artprice department, constantly enriches its databases with the data sent from 7,200 auction houses around the world and it continuously publishes art market trends for the main press agencies and 8,100 press titles around the world in 122 countries and 11 languages.

In 2004, Artprice created its unique Standardized Marketplace® allowing anyone to sell and/or buy from more than 70,000 works available in real time by making them available to its 9.3 million members. Artprice is therefore much more than a simple information and research tool; it is a genuine crossroads for exchanges and discoveries, where the spirit of collecting is refined and the passion for art is fully expressed.

For collectors, art professionals, auction houses, experts, and institutions, Artprice by Artmarket is a leading reference in the art market. According to a 2024 study conducted among attendees of CIHA Lyon 2024 in France, the 36th World Congress dedicated to Art History research with participants from over 70 countries and featuring 1,000 speakers, Artprice ranks as the top-of-mind among art market databases. It was mentioned first by 86% of respondents, establishing it as the leading art market database in terms of recognition. Details of the study: https://www.prnewswire.com/news-releases/artmarketcom-2q2024-in-double-digit-growth-artprice-in-a-2024-study-ranks-as-the-top-of-mind-data-bank-on-the-art-market-and-opens-up-to-the-online-global-higher-education-market-in-line-302219989.html

Artificial Intelligence serving the Art Market thanks to Intuitive Artmarket®

Drawing on the experience of its parent company Groupe Serveur (pioneer of the Internet in Europe with legal databases, the first computer-generated images since 1985), Artprice by Artmarket.com has developed over the decades thousands of increasingly powerful and relevant proprietary algorithms exploiting more than 180 proprietary databanks. These assets have allowed Artmarket.com to set up its own Intuitive Artmarket® AI, in strict compliance with various legislations, particularly regarding personal data protection and intellectual property.

These rapid developments have been made possible by Groupe Serveur’s (and subsequently Artprice’s) particularly timely acquisition of innovative companies such as Xylogic, a Swiss company composed exclusively of eminent scientists (from CERN, WHO, etc.) who, from 1999, were considerably ahead of their time and already pre-figured the dawning of the age of Artificial Intelligence (see Artmarket.com reference document).

In the world of large global publishers of professional databases (to which Artprice belongs), it is vital for the long-term development of our activity to integrate proprietary AI into our core businesses. This is why Artprice by Armarket has taken a very significant lead since 1999 and made 2025/2029 the key period for the commercial launch of its Intuitive Artmarket® AI, a proprietary algorithmic AI.

According to thierry Ehrmann, founder of Artprice and CEO of Artmarket.com – whose official certified biography can be found in Who's Who In France (https://imgpublic.artprice.com/img/wp/sites/11/2025/02/2025-Biographie_de_Thierry_Ehrmann-Who-s-Who-In-France.pdf) – “There cannot be artificial intelligence without human intelligence”. This observation underlines the importance the group attaches to the interaction between human intelligence and artificial intelligence, in the development of its own AI, baptized Intuitive Artmarket®.

Artprice by Artmarket’s algorithms harness billions of anonymized proprietary logs, text data, and tens of millions of artworks from Artprice’s databases to identify new semantics encapsulating an artist’s primary approach, his/her universe, inspirations, mediums, themes, forms, volumes, etc..

This invaluable data forms a synergy, enriching the understanding of over 845,000 referenced artists with their certified biographies and data. It goes beyond conventional visual criteria thanks to the neural networks of the Intuitive Artmarket® AI.

Intuitive Artmarket® can already calculate the values of artworks based on an analysis of the traceability and of past auction results over time, a pricing technique that was already specific to Artprice. It can now also anticipate future fluctuations, including for totally unique works, which in turn means that it can identify highly complex transversal artistic trends which largely escape academics, curators and dealers.

Watch the video summarized presentation of Artprice’s 2024 Global Art Market Report by its founding CEO thierry Ehrmann and Loïse Lyonnet from Culture au cœur:

Part 1 Part 2

Artprice's econometrics department answers all your questions relating to personalized statistics and analyses: [email protected]

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