Insights
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Features
Features
2024 Global Art Market Insights
Key Takeaways for Collectors
The 2024 Art Basel and UBS Global Art Market Report reveals strong recovery and growth in the art market. Total sales reached $67.8 billion, a 5% increase from 2022. The U.S. remains a dominant player, contributing 45% of all sales, while online platforms expand the market’s reach.
Contemporary art accounts for 54% of total sales, and collectors increasingly focus on sustainability and supporting underrepresented artists. As digital art forms, including NFTs, become prominent, the market presents exciting opportunities for seasoned and new collectors.
Taxes on Art Transactions
What You Need to Know When Buying and Selling Art
Art collecting can be a rewarding investment, both culturally and financially. But whether you're purchasing or selling artwork, it's important to understand the taxes involved. From sales tax to capital gains, various tax obligations can impact the financial outcome of your art transactions. That's why we composed a list of the taxes to consider when buying or selling art.
Appraisals vs. Valuations
Cara Barer, Elgery, (2015).
What Is the Difference between an Appraisal and a Valuation?
When dealing with fine art, collectibles, or other high-value assets, understanding the distinction between an appraisal and a valuation is crucial. Although many use these terms interchangeably, they serve different purposes and apply in various contexts. This breakdown clarifies their differences and helps you decide when to use each.
Buying Photography
Ori Gersht, Off Balance (2006).
The Top 5 Things to Know When Buying Photography
Whether you’re an experienced art buyer or a first-time collector, purchasing photography involves unique considerations. Here are the top five things to remember when investing in photography.