Art Fairs’ Share in the Market
This concentration of the market is also reflected in the art fairs that happen around the globe, which on average account for more than 25% of the total operational costs of galleries, but also for 45% of the sales made by art dealers worldwide in 2019. In these precise events, the main of which happened in Europe (51%) and in the USA (28%), less than one third of the artists presented are considered to be emerging, and more than 70% of them are men, with female presence diminishing as artists are more acclaimed. However, if in 2019 art fairs were responsible for 45% of the sales made by art dealers, in 2020 this number dramatically plummeted to just 13%. At the same time, as online sales represented 13% of art dealers’ turnover in 2019, they rose up to a record of 39% by 2020. Simultaneously, the market value of online sales went rocket high, from 9% in 2019 to 25% in 2020, exceeding, for the first time in history, that of general retail.