The Art Basel and UBS Global Art Market Report 2024

The episode presents the 2024 Art Basel and UBS Global Art Market Report, summarizing the 2023 art market. The report details a 4% decrease in global art sales to $65 billion, despite increased transaction volume. While the high-end market slowed, China experienced a 9% sales increase, becoming the second-largest market. The report analyzes dealer and auction sales, noting challenges like inflation and geopolitical instability, but also highlighting optimism for 2024. Finally, it examines legal and regulatory changes impacting the global art market, particularly in China and the EU. https://www.ubs.com/global/en/our-firm/art/collecting/art-market-survey/download-survey-report-2024.html