Artprice presents its 2024 Contemporary Art Market Report

The 29th Annual Report of Artprice by Artmarket reveals an impressive growth of the Contemporary and Ultra-Contemporary Art Market. With a turnover up 1800% since 2000, this market now extends over 61 countries with more than 132,000 works sold in 2023/24. The segment of pieces priced under $5,000 represents 82% of sales, illustrating the increasing accessibility of contemporary art to buyers worldwide.

Big names in contemporary art such as Takashi Murakami and Banksy continue to dominate this thriving market. However, despite an 18% decline compared to the previous year, the contemporary art market remains a stable value, representing around 17% of the overall Fine Art and NFT market.

Indeed, even in a turbulent geopolitical context, art retains its status as a safe haven for investors, a point underlined by the report for 2024, which also details the strong performance of ultra-contemporary artists under 40.