Art in Numbers

CHANGING TASTES 119,400 Some 119,400 contemporary artworks were bought at auctions globally in 2021-22, up 12 per cent on the previous year. US$1.88 trillion The value of art collections belonging to ultra-high-net-worth individuals is predicted to rise to US$1.88 trillion by 2025. US$30.4 billion Global sales at Christie’s and Sotheby’s were estimated at US$30.4 billion in 2021, a 45 per cent increase from 2020. GENERATIONAL COLLECTORS US$298,000 Gen X took over from Millennials in 2022 as the generation with the highest median spending, at US$298,000. US$274,000 High-net-worth collectors’ median expenditure on art and antiques stood at US$274,000 in 2021, up from US$126,000 in 2020. AROUND THE WORLD 29% The global art and antiques market rose by 29 per cent between 2021 and 2022, reaching a whopping US$65.1 billion. US$2.7 billion…

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Tatler Hong Kong (Digital) - 1 Issue, June 2023

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