In 2021, under the influence of the ongoing epidemic in the overseas art trading market, a latest 2021 report by industry authorities: Art Basel and UBS has aroused close attention from institutions and people in the global industry.
The report was written by renowned cultural economist Dr. Claire McAndrew and is based on feedback from more than 700 institutional groups in 54 regions or countries. It also integrates an analysis from a survey conducted by more than 500 senior collectors in five countries and regions: the United States, the United Kingdom, Hong Kong (China), Germany and Switzerland, as well as data from the UBS Evidence Laboratory. The report shows a new interpretation and data changes in the international art market over the past year (2021). The results of the data analysis are as follows:
More than half of overseas operators reported an increase in sales
51%。
Operators surveyed reported an increase in sales in the first half of 2021 compared to the same period in 2020. Asian operators saw the largest increase in sales, with an average increase of 18%, of which 6% increased in Greater China. The most subdued environment was in Europe, where operators reported an average decline of 7%.
Second, collectors are still involved, and the post-00 generation leads the trend.
Collectors surveyed remain active in the first half of 2021. Post-70s-80s spending on art and antiques grew by an average of 42% to $242,000, compared to $170,000 for the full year 2020. The post-00s generation of collectors had the highest overall spending at $378,000. This group is the more bullish generation in the art collecting industry, three times that of other age groups.
Third, female collectors are on the rise, while female collectors are becoming more prominent.
In the first half of 2021, spending by female collectors increased by a little more than a third to $410,000, more than double that of male collectors, who grew just 9 percent from 2020 to $163,000. There is also evidence that female collectors are doing better and better in collecting, accounting for 42% of all works, compared to 39% in 2020 and 37% in 2019.
Fourth, online channel sales continue to grow.
Online channels accounted for 33% (or 37%, of all carrier sales in the survey data, including art fair online showrooms, etc.), more than double the share in 2019. The largest number of online sales is the operator's own online channels, including their websites and social media channels.
Institutional and operator sustainability is the top priority for collectors
According to the survey, 77% of collectors surveyed consider sustainable options when buying art or managing their collections. CEO of UBS Europe SE and Head of Wealth Management Europe and Chairman of the UBS Arts Council said: "The crisis has given birth to an impetus for innovation and change, and UBS aims to work further with collectors to make progress in these areas. ”
The above is an analysis of the overseas antique art market. What are your thoughts on this? What are your predictions for the future development trend of the domestic art market? Feel free to let us know in the comments section.