{"id":27374,"date":"2021-12-15T10:51:37","date_gmt":"2021-12-15T10:51:37","guid":{"rendered":"https:\/\/www.artrights.me\/il-report-semestrale-sulle-gallerie-di-art-basel-ubs-2021\/"},"modified":"2021-12-15T11:03:55","modified_gmt":"2021-12-15T11:03:55","slug":"the-semi-annual-gallery-report-of-art-basel-ubs-2021","status":"publish","type":"post","link":"https:\/\/artrights.me\/en\/the-semi-annual-gallery-report-of-art-basel-ubs-2021\/","title":{"rendered":"The semi-annual gallery report of Art Basel Ubs 2021"},"content":{"rendered":"\n

The semi-annual gallery report of Art Basel Ubs 2021<\/strong><\/h3>\n\n\n\n

The report presents the latest findings from Arts Economics’ research into the global art market.<\/strong><\/p>\n\n\n\n

The Mid-2021 Art Basel Ubs Report<\/strong><\/a>, written by economist and founder of Arts Economics Clare McAndrew<\/strong>, aims to provide a detailed overview of art market trends through data gathered during a survey of 700 gallery owners <\/strong>operating in 50 different countries and information declared by over 500 <\/strong>wealthy collectors.<\/strong><\/p>\n\n\n\n

According to the Report, more than half of gallery owners claimed a 51% increase in sales in <\/strong>the first half of the year compared to the same period in 2020. Specifically, galleries with a turnover of \u20ac10 million or more <\/strong>performed better, seeing a 21% increase in sales<\/strong>, while mid-range galleries <\/strong>saw a 3% decline<\/strong>.<\/p>\n\n\n\n

Sales on the Asian continent were <\/strong>positive, with gallery owners reporting an average increase of 18%<\/strong>. In Europe, on the other hand, dealers reported an average drop <\/strong>of 7%<\/strong>.<\/p>\n\n\n\n

As far as collectors are concerned, Millennials <\/strong>lead the way with a total spend of $378,000<\/strong>, three times higher than Gen X <\/strong>and Boomers<\/strong>. <\/p>\n\n\n\n

Numerous purchases were made by female collectors <\/strong>with a total of $410,000<\/strong>, more than double that of their male counterparts. It was also ascertained that works by women artists <\/strong>in collections are on the rise, representing 42% <\/strong>of the total compared to 39% found in 2020.<\/p>\n\n\n\n

ONLINE MARKETPLACE AND APPLIED TECHNOLOGIES <\/strong><\/h3>\n\n\n\n

The digital acceleration <\/strong>shows no sign of stopping. Online channels accounted for 33% of total gallery sales<\/strong>, more than double the share recorded in 2019, as art market players invested even more in technology. Specifically, the most profitable digital channels were websites, social media <\/strong>and email, <\/strong>while online viewing rooms <\/strong>only contributed 4%, down from 9% last year.<\/p>\n\n\n\n

As a result, digital art is <\/strong>also a growth <\/strong>area. For collectors, traditional media <\/strong>still accounts for the safe and largest <\/strong>share of spending, at 31%<\/strong>; despite this, digital accounts for a significant 12%<\/strong>, with almost half of respondents saying they plan to purchase digital works in the next 12 months.<\/p>\n\n\n\n

BLOCKCHAIN AND NFT<\/strong><\/h3>\n\n\n\n

It’s no mystery that the Blockchain <\/strong>and NFT<\/strong><\/a> universe are attracting more and more art industry professionals. This is confirmed by Clare McAndrew<\/strong>‘s report which, citing data from nonfungible.com<\/strong><\/a>, <\/strong>noted that in 2021 Crypto Art<\/strong><\/a> sales on the ETH <\/strong>network<\/a> reached a growth of $1.3 billion<\/strong>. The number of buyers also saw substantial growth: at the end of the second quarter of 2021, it went from just over to 9.10053.198<\/strong>.<\/p>\n\n\n\n

The interest shown has therefore had a positive impact on the market, although doubts remain as to the quality of the NFT<\/strong><\/a> placed on the dedicated platforms. For this reason, the report proposes to gallerists and collectors a “quality control and information sorting<\/em>“, as well as the need to “provide knowledge and expertise and develop long-term relationships<\/em>“.<\/p>\n","protected":false},"excerpt":{"rendered":"

The report presents the latest results of research conducted by Arts Economics on the global art market.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[252],"tags":[],"class_list":{"0":"post-27374","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-art-world-en"},"yoast_head":"\nThe semi-annual gallery report of Art Basel Ubs 2021 | Art Rights Magazine<\/title>\n<meta name=\"description\" content=\"The report presents the latest results of research conducted by Arts Economics on the global art market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/artrights.me\/en\/the-semi-annual-gallery-report-of-art-basel-ubs-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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