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How China took the emerging art market by storm

Lucy Jones for Quartz

From our Field Guide

How China took over the art world

China's art market went from zero to global powerhouse in less than two decades.

By Annalisa Merelli

Reporter

July 29, 2019

If the art market were a country, it would be one of the world’s fastest growing: With 6% growth between 2017 and 2018, its expansion rate would be second only to China (which grew 6.6%).

But then, if the art market were a country, it would actually be three: Almost all of the $67.4 billion market is taken up by the US, UK, and China, which are home to 84% of all commercial art transactions, leaving crumbs to the rest of the world. France, the fourth-largest market, is far below the top three, at 6%.

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