How Christie’s and Sotheby’s dominate the $67 billion art world
The global art market was valued at $67.4 billion in 2018, the second highest year ever. The United States, United Kingdom and China are the three largest art markets. They account for 84% of the global market, with the U.S. capturing over half of that.
Auction houses are one of the biggest drivers of the art market. Sales at public auctions exceeded $29 billion last year. Five auction houses…
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