Art dealers faced an uncertain future in the midst of the recession, with discretionary purchases of artwork plummeting. However, the recovering economic climate will pave the way for improved industry demand, as income levels grow and consumer sentiment takes a positive turn. Most significantly, people in the highest income bracket will buy artwork again, boosting industry revenue.
This industry includes art galleries and art auction houses that primarily retail original and limited edition artwork. The companies purchase artwork from an artist or individual owner and then sell the artwork to consumers, with little or no further development of the product. Additionally, auction houses that bring buyer and seller together and collect a commission are included in the industry.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.