Art market sees slump in China sales and collapse of NFTs
The art market in 2022 saw a drop in sales in China, the collapse of NFTs (linked to digital art) and a historic record of transactions in the United States, according to the annual report by the French house Artprice published this Tuesday (14) .
The total volume of business was 16.5 billion dollars (about 86.4 billion reais) in 2022, a decrease of 3.1% compared to 2021 (17 billion dollars, 89 billion reais at the current exchange rate) ).
Despite the drop, online sales maintained the vigor of a market concerned with fluctuations in the digital sector, related to cryptocurrencies.
The year 2022 was the fourth in terms of sales, after the record set in 2011 (18.5 billion dollars, 96.9 billion reais at current exchange rates).
“The world art market in 2022 registered an unprecedented conjunctural imbalance between Asia, where it contracted strongly, and the West, where it broke records”, told AFP Thierry Ehrmann, president of this company, which presents itself as a world leader in information. art market.
After the cryptocurrency crash, digital certificates of authenticity, NFTs, plummeted sharply despite the growing number of transactions.
From 232.7 million dollars (1.2 billion reais at current exchange rates) in 2021, they went to just 13.9 million dollars in 2022 (-94%, 72.8 million reais).
The year 2022 was the fourth in terms of sales, after the record set in 2011 (18.5 billion dollars, 96.9 billion reais at current exchange rates).
“The world art market in 2022 registered an unprecedented conjunctural imbalance between Asia, where it contracted strongly, and the West, where it broke records”, told AFP Thierry Ehrmann, president of this company, which presents itself as a world leader in information. art market.
After the cryptocurrency crash, digital certificates of authenticity, NFTs, plummeted sharply despite the growing number of transactions.
From 232.7 million dollars (1.2 billion reais at current exchange rates) in 2021, they went to just 13.9 million dollars in 2022 (-94%, 72.8 million reais).
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