The market of art dealers and galleries - Germany

The art trade and gallery market is an important part of the art market and includes a variety of players who buy and sell artworks from artists. The art trade and gallery market is a constantly changing market that is influenced by various factors, such as the economic climate, the art market and artistic trends. The closure of national and international fairs led to a drop in sales in the art market. Creative digital technologies will become more important in the art trade, and the use of social media and online tools to present and sell art will continue even after the pandemic. The adaptability of players will be critical to the future of the art market, and a recovery in sales and employment is not expected for several years[Federal Ministry of Economics and Climate Protection] The art market can be segmented by category of work (sculpture, painting, etc.), era (contemporary, modern, etc.), and price range. Globally, sales of art and antiques could generate 29% revenue growth in 2021 compared to 2020. Among them, the largest market share is in the United States with 43%, followed by China and the U.K. Galleries generated 18% revenue growth in the same year. A decline in sales of 14 percentage points can be seen for art fairs[Frankfurter Allgemeine]. The following market study examines current trends in the industry and analyzes the typology of customers, as well as the market structure and competitive situation to provide insightful information.