Jose Sanchez
Research expert covering society, economy, & politics for Latin America
Auction market worldwide - statistics & facts
While the history of auctions goes back as far as the ancient Greeks, few could have predicted that global auction sales of art and antiques would eventually generate billions, exceeding 20 billion U.S. dollars in 2024. That said, this figure saw an almost 20 percent annual decline due to the market contracting after the rebound following the COVID-19 pandemic. The United States, China, and the United Kingdom accounted for the highest share of public auction sales worldwide in 2024, altogether generating over two-thirds of the global market鈥檚 value. Although auction houses do not exclusively focus on art, they are a pillar of the global art market, with auctions of art and antiques making up roughly 40 percent of total art sales in 2024.
