The Evolution and Development of the Global Art Trade from a Chinese Perspective

Abstract

This study investigates the evolution of global art trade flows and China's expanding role within the international art market. It explores recent shifts in sales channels and highlights emerging trends that are expected to shape the future direction of the art trade. Based on changes in transaction volumes between 2020 and 2024, as well as shifts in national market shares, the empirical findings show that China has regained its position as the world's second-largest art market, exhibiting robust growth momentum and growing influence in the global art trade. Further analysis reveals that mid-range and lower-priced art segments are showing more optimistic growth prospects and greater potential for future development. In terms of collecting behavior, the market is moving away from speculative extremes, with collectors now placing greater emphasis on artistic quality and long-term value. By refocusing on the fundamental characteristics of the art trade and employing more representative indicators of cultural and artistic features, this study deepens the understanding of global art market dynamics, year-on-year developments, and China's evolving role. The findings also offer practical insights for identifying strategic directions that China may pursue in the global art trade going forward