Artprice, a France-based art auction database, has released a report looking back at the last two decades of the Contemporary Art Market.
In summary, the report shows that since 2000, Contemporary artists and art have grown by leaps and bounds, much in part thanks to the globalisation of the Art Market.
Charting the terrain of the Contemporary Art Market (CAM) at auction, Artprice’s “20 Years of Contemporary Art Auction History” sheds lights on how the Contemporary Art scene has gotten to be where it is today.
Today, Contemporary Art accounts for 15 percent of the global Art Market compared to the mere three percent it represented globally in 2000.
Thus, 0.3 percent of Contemporary artists account for three-quarters of global auction turnover within the Contemporary Art sector.