With $1 8 Billion In Sales, Auctions Return To The Honest And Sober

Among the collectors to nab a piece there have been Rebecca and Martin Eisenberg, who purchased the dazzling portray Wild, Wild Bitch in The Country, beneath. Online gross sales experienced a seven % enhance to $11.8 billion, underscoring the rising importance of digital platforms in facilitating art transactions. Though the net art sales are technically down from a $13.3 billion excessive in 2021, they’re still practically double that of 2019 or any of the preceding years, and this yr had been particularly driven by dealer-owned channels and web sites, the report said. Despite the decline in sales of art-related non-fungible tokens outdoors the art market, the report famous continued interest in NFTs, with gross sales remaining considerably larger than pre-pandemic ranges. Art fairs accounted for 29 % of supplier revenues, down six percent from 2022 but 27 p.c higher than the Covid-era low of 2021. Larger sellers, the report says, are optimistic about 2024 with 50 % anticipating their sales at art fairs to increase, while across the financial spectrum only 39 % of art sellers imagine gross sales at festivals will increase.

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