About Art Auction
An art auction is the sale of art led by an auctioneer, most commonly held in auction houses, which have different locations around the world. An art auction is planned often months in advance, with a fixed line-up of works available for sale; these are presented in an auction catalog that potential collectors peruse before the big day. Then, as in all auctions, registered bidders raise their paddles, call their advisors, and feel their heart rates rise before the auctioneer’s hammer finally hits the block.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Art Auction market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
China Guardian (China), Christie's (United Kingdom), Phillips de Pury& Company (United States), Poly Auction (Hong Kong), Sotheby's (United States), Artcurial (France), Artsy (United States), Beijing Council International Auction Company (China), Bonhams (United Kingdom), Bruun Rasmussen (Denmark), DESA Unicum (Poland), Dorotheum (Austria), Doyle (United States) and Grisebach (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Heritage Auctions (United States), Koller Auctions (Switzerland), K Auction (South Korea) and Zhongzheng Auction (China).
Segmentation Overview
AMA Research has segmented the market of Global Art Auction market by Type (Online and Offline), Application (Painting Art, Ceramic Art and Others) and Region.
On the basis of geography, the market of Art Auction has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Experiencing Art & its Backstory, Female Artists Gain Ground and Advancement in auction services techniques
Market Growth Drivers:
Art Gains Popularity as Investment, Growth of New Wealth and Evolving Art Appreciation
Challenges:
Challenges Linked with the Various Fraud Functionality
Restraints:
Lack of Regulations, Standardization, & Transparency and Auctions Perceived as Intimidating & Overwhelming
Opportunities:
Advent of Online Auction Services to Connect People Easily and Growing Recognition of Artists on Digital as well as Physical Platforms
According to the “Federal Trade Commission Consumer Information”, Buyers should check items or equipment; also check out the auction site too. Before buyers commits their money or personal information, get to know how the site and seller operate, what you’re really bidding on, and scams that may crop up. Those way buyers have better odds of having a good experience as buyers hunt for that good deal.
Key Target Audience
Art Auction Companies, Art Auction Buyers/Sellers, Art Auction Industries, Government Bodies and Firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.