Art Dealers in the US - Industry Market Research Report

Art Dealers in the US - Industry Market Research Report

  • March 2018 •
  • 36 pages •
  • Report ID: 171034
Stroke of genius: Online sales will acount for a growing portion of industry revenue

Abstract

Art Dealers in the US
The Art Dealers industry is highly fragmented, with most operators having only one to four employees. However, on the opposite end, the industry also includes large auction houses, such as Sotheby’s and Christie’s International, which have been established within the industry for centuries, though smaller in number. Traditionally, growth for this industry has been driven by growth in the quantity of sales and not by inflation in selling prices. Although million-dollar selling prices get much attention, they are the exception rather than the rule. The majority of industry revenue is generated through the sale of affordable pieces, both by large auction houses and small gallery operators. Over the five years to 2023, industry growth will continue to be driven by the popularity of contemporary art, rising disposable income and the increasing number of museums seeking to make high priced purchases to entice visitors. As online sales globalize the market and increase the level of external competition, the forecasted depreciation of the US dollar over the five years to 2023 will help to protect industry operators.

This industry includes art galleries and art auction houses that primarily retail original and limited-edition artwork. The companies purchase artwork from an artist or individual owner and then sell the artwork to consumers, with little or no further development of the product. Additionally, auction houses that bring buyers and sellers together and collect a commission are included in the industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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Country=UnitedStates Industry=CulturalAttraction ParentIndustry=Services Date=201803 Topic=Demand Publisher=Ibisworld Price=1000