Contemporary art is an artistic movement that has emerged in recent decades and seeks to create new experiences and ideas by using novel approaches and forms. Artists in this field use a variety of techniques and methods to express their thoughts and feelings in their works.
In 2022, contemporary art accounted for 17.6 percent (equivalent to 2.7 billion dollars) of the total fine art market, while this market constitutes only 2.7 percent of the total fine art market. Also, the share of the new contemporary art market—a subcategory consisting of works by contemporary artists under 40—of the total fine art market was 2.6 percent, equivalent to 419 million dollars.
The United States of America in this year had a 20 percent increase in sales of contemporary artworks and, with 1.05 billion dollars, has the largest contemporary art sales market. This country alone has a 39 percent share of the turnover of the contemporary art auction market. China with 740 million dollars and the United Kingdom with 486 million dollars also stand in the next places.
Also, a look at the statistics of earlier years shows that the works sold this year, compared with 2001, have increased 10-fold, which can be a sign of the transformation that has occurred in the art market.
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Machine-translated from Persian by Namafar; the Persian original is authoritative. Read the original in Persian