Global art sales drop by nearly a quarter - research

News Team, 19/03/2021

Global sales of art and antiques dropped 22 percent in 2020 to $50.1 billion.

However, they were still above the 2009 low when sales fell 36 percent to $39.5 billion.

This is according to the fifth Art Basel and UBS Global Art Market Report, authored by cultural economist Dr Clare McAndrew.

The US market has the largest market share, accounting for 42 percent of global sales values, followed by greater China and the UK with 20 percent apiece.

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