Chinese art market sales fell by 24% in 2012

Recently, a report compiled by Clare Andrew, the founder of the art economics of the professional art research market entrusted by the European Art Entrepreneurs Association, showed that in the global economic slowdown and economic uncertainties continued to exist, the global The art and antique market shrank by 7%, with a total turnover of 43 billion euros. The main factor in the decline in sales was the key engine - the shrinking of the Chinese market. In 2012, the turnover of the Chinese art market dropped by 24%.

The rapidly rising Chinese art and antique market suffered a cold spell in 2012 and shrank nearly a quarter, making the United States regain its traditional position as the world's top market. The forthcoming “TEFAF Global Art Market Report 2013” ​​published on the 14th reveals this change. The report also announced the total turnover of the global art market in 2012.

In 2011, for the first time, China became the main force of the world's art and antiques market. Its sales share soared to 30% of the world's total. In 2012, it suffered a dramatic decline. The “TEFAF Global Art Market Report 2013” ​​pointed out that the Chinese art market has slowed down for the first time in the past three years, with total sales of 10.6 billion euros, a drop of 24%, and it has retreated to the second position in the world. After the United States.

The report believes that the main reasons for the slowdown in the Chinese market include the deceleration of economic growth due to demand factors and the continued liquidity squeeze and the reduction in the number of high-quality and high-priced artworks on the market. In addition, many arts and other speculative investors also reduced their participation in the art market last year.

At present, after the global art market experienced a reshuffle in 2012, the United States returned to the first place with a share of 33%, which was a 4% increase from 2011, China accounted for 25%, and dropped to a second place by 5%. It remains third, accounting for 23%, up 4%.