Leading art markets and auction houses worldwideIn 2020, the United States, United Kingdom, and China were the leading countries in the global art market, cumulatively holding over 80 percent of the total market value. That year, while the U.S. generated the highest overall sales value, China retained the biggest share of fine art auction revenue worldwide.
In terms of auction sales, two auction houses, both founded in London during the 18th century, dominate the market: Christie’s and Sotheby’s. In 2020, total auction sales of Christie’s worldwide amounted to 4.4 billion U.S. dollars, declining from nearly six billion in 2019. Meanwhile, Sotheby’s global auction sales rose in 2020, reaching five billion U.S. dollars.