Artmarket.com SA (FR:PRC) has released an update.
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Artprice by Artmarket’s 2024 Contemporary Art Market Report indicates a booming sector with a staggering 1800% growth since 2000, highlighting the art world’s resilience as a ‘safe haven’ during crises. The report, coinciding with major art events Frieze and Art Basel Paris, details significant sales growth, increasing geographical spread, and the digitalization of the art market. It also notes a surge in affordable contemporary art, with sales under $5,000 booming, representing 82% of all transactions in the period.
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