The global art market in 2024 saw a 12 percent decline in sales and its value reached 57.5 billion dollars, while transaction volume grew 3 percent. The United States with 43 percent, the United Kingdom with 18 percent, and China with 15 percent held the largest shares of the global art market. Sales value in the online art and antiques market, with an 11 percent decline, reached 10.5 billion dollars, but still remained higher than the pre-pandemic period. The number of online auctions by the well-known houses Christie's, Sotheby's, and Phillips fell to 451 auctions and the sales value of these auctions reached 790 million dollars. In the NFT domain, the sales value of NFT artworks, with a 65 percent decline, reached about 213 million dollars in 2024. "Chromie Squiggle" was still the best-selling art NFT. Galleries also saw changes, and 43 percent of them intended to focus more on online sales. Galleries' in-person sales were still the most important transaction channel with a 44 percent share, and the most important challenges of art sellers were cited as economic and political fluctuations.
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Machine-translated from Persian by Namafar; the Persian original is authoritative. Read the original in Persian