What about art sales and how is the art market 2022? And what does that mean for you as an artist? In this article we introduce you to the latest figures and provide answers to the most important questions.
Contents
Analysis of the art market - problem
A review of 2021
We can expect that for 2022
What does that mean for you as an artist?
Source directory
Analysis of the art market - problem
The analysis of the art market is never easy because, unlike other industries, a lot of data and sales are not publicly available as data. This is why the art market remains one of the least regulated investor markets.
In addition, there is hardly a comparable market adapting to changing trends and focuses so quickly: What is the last cry today can be completely uninteresting in a few months. Last but not least, the effects of pandemic in 2021 were very different - in certain regions, the borders were closed over long distances of the year, while in other countries the “new normality” occurred in summer.
kind of market report every year in partnership with Art Basel , which takes a close look auctions The detailed paper comprises a total of 279 pages this year.
To save you time, we want to try to break down the information to the bare essentials. If you still want to read the full report, you can download it here .
A review of 2021
After the art market in 2020, the biggest course of the course had been posted in 10 years, Har can recover in 2021. UBS puts the total sales of art and antiques by dealers and auction houses an estimated value of an estimated $ 65.1 billion , which is an increase of about 29% compared to the previous year. A value that even exceeds the level before the 2019 pandemic.
All segments of the market have grown - whether auctions (+47%), private sales (+33%) and the art trade (+18%). As always, the American art market remained leading with 28 billion (43%), followed by China and Great Britain.
The online market for art has also grown further, and 7% of a total of 13.3 billion. In addition, there is also a reactive hype for the new NFT market, which was able to record an increase of around $ 11.1 billion in 2021 . This is particularly impressive if you look at that only 6% of all art dealers NFT's in their range (however, another 19% have expressed their interest in doing this in the next 2 years). Much of their sales still comes through Art Fairs (29%) and a falling share for the first time through online sales (from 30% to 20% in 2021).
We can expect that for 2022
In order to be able to classify our expectations for the art market in 2022, the type of market report also asked dealers, auction houses and collectors about their prospects for 2022: Despite the continuing uncertainty in 2021, most of the wealthy collectors (74 %) were optimistic about the development of the global art market in the next six months in December 2021.
This majority was the same in all regions, with optimism, for example, in Taiwan and Germany, which is mainly due to the generally greater uncertainty of the collectors there. It is also to be expected that online sales will increase and that the growing NFT market will continue to take a trip. Good news for us artists, and for the art trade in general.
What does that mean for you as an artist?
For you as an artist, this basically only means positive things, since the optimistic basic mood of large collectors, art dealers and auction houses is often reflected on smaller collectors or local art companies. With reservation of further pandemic restrictions, 2021 has shown above all how important it is to create crisis-proof systems and to maintain or build customer relationships.
Tool number 1 remains for artists, whether their own online presence , whether on a website or social media. You can find more tips and tricks in our sections tips for artists .
Max Rübensal is a contemporary artist and art author from Berlin, who reflects in his works and texts about symbolism, identity, pop culture and the constantly growing digitization of our everyday life.
A fundamental need for every artistically creative person is likely to be the ability to live off their art.
To secure one's existence, it's essential to earn money with art. In fact, many artists can live well off their creative work today, contrary to the majority's perception. Nevertheless, a vast majority of freelance artists still rely on additional income sources (e.g., giving courses, commissioned work, side jobs, etc.).
Recognition as an artist often does not bring immediate financial security. Therefore, artists are often also life artists.
The opportunities to make a living from one's own art have, however, grown significantly due to the internet and social media. As an artist, however, you must be versatile and flexible to succeed. A certain degree of perseverance is also essential.
Customer care and self-marketing are also important pillars for success as an artist.
In this section, we compile numerous articles, information, tips, and advice to help you make a living from your art.
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