Key art markets were all affected by the revenue decrease in 2019 except for one market ...
Auction Revenue at the top 3 Auction Houses decreased in 2019 versus 2018 in most of the key art markets across the world, resulting in an overall decline of 15% Year on Year.
The largest market, the United States, experienced a revenue drop of 19% from $6.3b in 2018 to $5.1b in 2019
The 2nd largest market, the United Kingdom, suffered a similar 18% revenue decrease from $3b in 2018 to $2.5b in 2019.
In spite of a challenging political situation in Hong Kong, China’s 2019 auction revenue was less affected with a decline of only 6% in 2019 versus 2018.
Swiss-based auctions suffered the worst Year on Year decline with an annual auction revenue plummeting 29% in 2019 versus 2018.
In this context, the performance of auctions in France, a Year on Year revenue increase of 32%, was outstanding!