The global art market was huge in 2011 with $11.57 billion in revenue. According to analysis from Artprice.com, a leader in art market information, this is up $2 billion from 2010. 2011 was the best year ever in history thanks mostly to the Chinese market which grew a monstrous 49% . Other markets that saw growth includes the United Kingdom +24%, France +9% and +23% in Germany. The US marketed fell 3%.
source: ForbesIn 2011, the high-end market displayed an extraordinary dynamism. No fewer than 1,675 artworks sold above the $1 million threshold (including 59 above the $10 million threshold) representing a 32% increase of 7-figure (or more) auction sales versus 2010 and an increase of 493% versus the start of the decade! And it comes as no surprise that China posted by far the best national score with 774. Indeed, Hong Kong posted twice as many million-plus results as the entire Euro area! Further evidence of this exceptional health: the year saw no less than 12,400 new auction records for artists (excluding auctions debuts).
