The international art market grew in 2022, with greater diversity in the acquisition of works made by women and a growing bet on the purchase of NFTs. In addition, Brazil stands out for the increase in the number of art fairs. These are some of the conclusions of the study conducted by the Swiss bank UBS in partnership with cultural economist Clare McAndrew and the Art Basel fair, which monitors market activity every six months in the 11 countries that concentrate the largest volume of transactions, tracking a select (and millionaire) group of 2,700 investors and collectors.
Average spend rises to US$ 180,000
According to Folha de S. Paulo, the average investment in the first half of 2022 was US$ 180,000, surpassing the US$ 100,000 recorded before the pandemic. The most significant finding is that 1 in every 5 collectors bought more than US$ 1 million in works during this period, an increase of 12% compared to 2019.
More cross-border movement and more women artists
The flow of exports and imports of art and antiques also grew, with an average increase of 40%, revealing a trend toward greater international movement of works. And the diversification of investments was marked by a stronger presence of women artists among acquisitions: 58% of the works purchased were by male artists and 42% by women.
Digital art and NFTs: Brazil leads
The most traditional media, such as painting on canvas, works on paper or sculptures, continue to dominate the scene. But there is a growing trend in the purchase of digital art, which already accounts for 15% of purchases. Within this universe, 9% of the works are associated with NFTs (Non-fungible token), pointing to new paths for investment in contemporary art. In this field, Brazil stands out with the highest proportion of investors seeking digital art for their collections.
South America gains fairs while the US and Europe lose them
South America, and Brazil in particular, recorded a significant increase in new art fairs. In our country, São Paulo alone hosted four fairs this year, while the United States and Europe saw the number of fairs plummet, with online purchases gaining greater relevance.
The full study is available for download here.
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