Report: Here’s What The Current $45 Billion Art Market Looks Like

The report paints a picture of “a stable and resilient market, experiencing positive growth.” However, sales are moving away from the auction houses to the private sector, both to private sales by auction houses and to dealers. In 2016, public auction sales of works of art, high-end jewelry, and decorative arts, reached $16.9 billion globally, a drop from $20.8 billion in 2015.

Art, Politics And The Met Museum

The timing of Tuesday’s announcement felt pointed, landing, as it did, during the kickoff to a week in which no less than a dozen art fairs open in New York City, trailing the power players of the international art world in their wake. (It’s known to insiders as “Armory Week,” not for the A.D.A.A.’s event at the actual Armory but for another fair, held at the western edge of Manhattan, on Piers 92 and 94, and named after the 1913 Armory Show, which famously scandalized viewers with Marcel Duchamp’s painting “Nude Descending a Staircase.”)