Art Dealers in the US - Industry Market Research Report

Stroke of genius: The popularity of contemporary art and rising disposable income will support industry growth

The Art Dealers industry comprises art galleries and auction houses that retail original works of art. The industry is moderately fragmented, with most operators having only one to four employees. The industry holds only a small number of large auction houses, such as Sotheby's and Christie's. Over the five years to 2022, the Art Dealers industry has benefited from increases in disposable income and in the number of households earning incomes of more than $100,000. However, the period was also marked by political and economic uncertainty that drove revenue declines enough to offset growth. Overall, revenue for the Art Dealers industry is anticipated to creep upward at a CAGR of 0.3% to $12.5 billion over the current period. In 2020 alone, revenue dropped 11.8% due to the COVID-19 pandemic's economic consequences. However, the industry began to recover in 2021 and is expected to continue to inch upward, rising 0.2% in 2023. 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 buyers and sellers together and collect a commission are included in the industry. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.