Art Dealers in the US - Industry Market Research Report

Art Dealers in the US - Industry Market Research Report

  • October 2020 •
  • 50 pages •
  • Report ID: 171034 •
  • Format: PDF
Stroke of genius: Online sales are expected to continue to globalize the industry

Abstract

Art Dealers in the US
Over the five years to 2019, the Art Dealers industry has benefited from an increase in disposable income and in the number of households earning incomes of more than $100,000. The recent increase in the selling prices of contemporary artworks and the acquisition strategies of museums seeking to improve their collections to ensure future customer flows have supported the industry over the past five years. %. Growth for this industry has traditionally been driven by growth in the number of sales and not by inflation in selling prices. Although million dollar selling prices get attention, they are the exception rather than the rule. The majority of industry revenue is generated through the sale of affordable pieces. Over the five years to 2024, industry revenue is forecast to continue growing. 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.

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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