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Art market in the United Kingdom - statistics & facts

The United Kingdom is one of the leading art markets worldwide. When considering total sales of art and antiques, the UK made up approximately 20 percent of the global art market, the same share retained by China, and around half of the U.S. market share. These same three countries also reported the highest shares of public auction sales worldwide, with the UK accounting for 16 percent of total sales in this sector. Overall, the global art and antiques sales amounted to roughly 50 billion U.S. dollars in 2020, decreasing by 22 percent over the previous year due to the impact of the coronavirus (COVID-19) pandemic.

Artwork trade in the UK

In 2020, the value of works of art, collectors’ pieces, and antiques imported into the United Kingdom reached its lowest point in a decade. In that year, art and antiques imported into the UK were worth around 1.6 billion British pounds, with the highest value coming from non-EU trade imports. Non-EU countries also accounted for the highest value of art and antiques exported from the United Kingdom, which reached to over five billion British pounds in 2020.

Leading auction houses

Three of the leading auction houses worldwide - Christie’s, Sotheby’s, and Phillips – were originally founded in the British capital during the 18th century. In 2020, Sotheby’s reported the highest revenue in the UK and the U.S., while Christie’s led the French market. In that year, due to the health crisis, many auction houses organized digital sales as an alternative to in-person events.

On July 10, 2020, British auction house Christie’s launched the first major global online sale. The event, named ONE, was a live streaming auction presented in sequence from Hong Kong, Paris, London, and New York. A painting by the artist Roy Lichtenstein sold during the online auction and ended up being the most expensive lot sold by Christie’s in 2020. The pandemic helped to boost auction houses interest in online events, with total sales in the online art and antiques market worldwide roughly doubling in 2020 over the previous year.

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Artwork trade

Fine art auctions

Interesting statistics

In the following 4 chapters, you will quickly find the {amountStatistics} most important statistics relating to "Art market in the United Kingdom (UK)".

Art market in the United Kingdom (UK)

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Art market in the United Kingdom - statistics & facts

The United Kingdom is one of the leading art markets worldwide. When considering total sales of art and antiques, the UK made up approximately 20 percent of the global art market, the same share retained by China, and around half of the U.S. market share. These same three countries also reported the highest shares of public auction sales worldwide, with the UK accounting for 16 percent of total sales in this sector. Overall, the global art and antiques sales amounted to roughly 50 billion U.S. dollars in 2020, decreasing by 22 percent over the previous year due to the impact of the coronavirus (COVID-19) pandemic.

Artwork trade in the UK

In 2020, the value of works of art, collectors’ pieces, and antiques imported into the United Kingdom reached its lowest point in a decade. In that year, art and antiques imported into the UK were worth around 1.6 billion British pounds, with the highest value coming from non-EU trade imports. Non-EU countries also accounted for the highest value of art and antiques exported from the United Kingdom, which reached to over five billion British pounds in 2020.

Leading auction houses

Three of the leading auction houses worldwide - Christie’s, Sotheby’s, and Phillips – were originally founded in the British capital during the 18th century. In 2020, Sotheby’s reported the highest revenue in the UK and the U.S., while Christie’s led the French market. In that year, due to the health crisis, many auction houses organized digital sales as an alternative to in-person events.

On July 10, 2020, British auction house Christie’s launched the first major global online sale. The event, named ONE, was a live streaming auction presented in sequence from Hong Kong, Paris, London, and New York. A painting by the artist Roy Lichtenstein sold during the online auction and ended up being the most expensive lot sold by Christie’s in 2020. The pandemic helped to boost auction houses interest in online events, with total sales in the online art and antiques market worldwide roughly doubling in 2020 over the previous year.

Interesting statistics

In the following 4 chapters, you will quickly find the {amountStatistics} most important statistics relating to "Art market in the United Kingdom (UK)".

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