DGAP-Media / 2019-09-25 / 08:30
*artnet and the China Association of Auctioneers Publish the Global Chinese
Art Auction Market Report 2018*
_Major changes in the Chinese art market signal shifting tastes and ongoing
uncertainties._
Berlin/New York, September 25, 2019-artnet, in collaboration with the China
Association of Auctioneers (CAA), released the seventh edition of its
_Global Chinese Art Auction Market_ _Report_on September 24, 2019. The
annual report serves as a unique look into the 2018 Chinese auction market,
using proprietary data and analysis to bring transparency to a historically
opaque industry.
In 2018, auction sales value in mainland China declined 17% year-over-year,
totaling $4.2 billion, the lowest since 2010. This highlights a deceleration
in China's economic growth amid contentious trade talks with the United
States.
Additional key findings in the new report include:
- Global auction sales of Chinese art and antiques totaled $6.4 billion in
2018, decreasing amid uncertainties in China's economy. Notably, the U.S.
saw a 36% decline in the total sales value of Chinese art and antiques
year-over-year.
- Traditional Chinese paintings and calligraphy, the largest collecting
category in mainland China, experienced a major decline in 2018 with a 35%
drop in total sales value.
- By contrast, 20th-century and contemporary Chinese art had an outstanding
year in the overseas market, achieving a 50% increase in total sales value,
and a sell through rate of 69%.
To download a copy of the 2018 _Global Chinese Art Auction Market_ _Report_,
click here [1]. For additional insight into the art market, subscribe to
artnet's Price Database [2].
*About artnet*
artnet is the leading resource for buying, selling, and researching art
online. Founded in 1989, artnet's suite of industry-leading products has
revolutionized the way people collect art today. The Price Database contains
about 13 million auction results from 1,800 auction houses dating back to
1985, providing an unparalleled level of transparency to the art market. The
Gallery Network platform connects leading galleries with collectors from
around the world, offering the most comprehensive overview of artworks for
sale. artnet Auctions was the first dedicated online marketplace for fine
art, providing a seamless and efficient collecting experience for both
buyers and sellers. artnet News covers the events, trends, and people
shaping the global art market with up-to-the-minute analysis and expert
commentary.
ISIN: DE000A1K0375
LEI: 391200SHGPEDTRIC0X31
*About CAA*
The China Association of Auctioneers (CAA) is the only national association
of the auction industry in China. The CAA is involved in regulating and
supervising registered auction houses according to the laws outlined in the
Auction Law of the People's Republic of China. Established in 1995, the CAA
is the most important platform for fostering art market connections within
China and with the rest of the world, making every effort to promote the
development of China's auction industry and auction market.
End of Media Release
Issuer: artnet AG
Key word(s): Art
2019-09-25 Dissemination of a Press Release, transmitted by DGAP - a service
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Language: English
Company: artnet AG
Oranienstraße 164
10969 Berlin
Germany
Phone: +49 (0)30 20 91 78 -0
Fax: +49 (0)30 20 91 78 -29
E-mail: info@artnet.de
Internet: www.artnet.de
ISIN: DE000A1K0375
WKN: A1K037
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate
Exchange
EQS News ID: 879273
End of News DGAP Media
879273 2019-09-25
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(END) Dow Jones Newswires
September 25, 2019 02:30 ET (06:30 GMT)
