The art market collapses due to the pandemic
On the other hand, online sales of artwork and antiques have soared in the Corona year 2020. And this trend is bound to continue in the future. But here, too, winners and losers are already emerging, because the quality of the artist selection correctly determines success and failure.
According to the report, worldwide 50.1 billion U.S. dollars (41.9 billion euros) were turned over in the previous year – a minus of 22 percent compared to 2019, when galleries, fairs and auction houses were still open. The estimate is based in part on a survey of some 2600 millionaires from North America, Europe and Asia. For more information, see the article at this link.
(Report Monopol Magazine 16.03.2021)