The eighth annual edition of the Global Chinese Art Auction Market Report, a partnership between Artnet and the China Association of Auctioneers (CAA), shows that global auction sales of Chinese art and antiques totaled $5.7 billion in 2019, a ten percent drop compared to the previous year, and the lowest level for the category since 2010.

The report cites continued trade tensions between the US and China and the declining Chinese GDP growth rate as factors in the drop. Total auction sales in mainland China also tumbled by 10 percent in 2019, to $3.7 billion, another 10-year low.

Outside of China, there was also a considerable drop in sales of Chinese art and antiques, which contracted nine percent compared with the previous year in overseas markets.

The annual report provides an in-depth look at the market by analyzing its overall volume and size, sector trends, and key players. Over the past eight years, data from mainland China provided by the CAA has also been integrated into the Artnet Price Database, making auction results from China readily available to the rest of the world.
Courtesy of Artnet News
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