Global art market share 2022, by country

The United States was the leading art market worldwide in 2022, generating 45 percent of the global art market value. That year, the United Kingdom ranked second, accounting for 18 percent of global sales. China followed in third place, representing 17 percent of the market.

Global art sales during the COVID-19 pandemic

After experiencing a sharp drop with the onset of the coronavirus (COVID-19) pandemic, the sales value of the art market worldwide bounced back in 2021, then rose even further in 2022, reaching the second-highest figure recorded in the last 15 years. Although the volume of transactions in the global art market also experienced an annual increase in 2022, it stayed slightly below pre-pandemic levels.

The online art market

With most in-person sales and events being canceled or rescheduled during the first two years of the health crisis, art dealers, fairs, and auction houses strengthened their online departments. As a result of the digital boost, global online sales of the art and antiques market peaked at more than 13 billion U.S. dollars in 2021. While this figure declined by roughly 17 percent in 2022, the value generated by online art transactions remained significantly higher than in pre-pandemic years.