The international art market grew in 2022, there is more diversity in the acquisition of works made by women and a growing appetite for buying NFTs. In addition, Brazil stands out for the increase in the number of art fairs. These are some of the conclusions of the study carried out by the Swiss bank UBS in partnership with the cultural economist Clare McAndrew and the Art Basel fair, which monitors the movement of the market every six months in the 11 countries that concentrate the largest volume of transactions, following a select – and millionaire – group of 2,700 investors and collectors.
According to the Folha de S. Paulo, the average investment in the first half of 2022 was US$ 180,000, exceeding the US$ 100,000 of the period before the pandemic. The most significant figure is that 1 in every 5 collectors bought more than US$ 1 million in artworks in that period, an increase of 12% compared with 2019.
The movement of exports and imports of art and antiques also grew, with an average increase of 40%, revealing a trend towards greater international circulation of artworks. And the diversification of investments was marked by a greater presence of women artists in acquisitions. There were 58% of works made by male artists and 42% by women artists.
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), showing 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, and Brazil in particular, recorded a significant increase in new art fairs. In our country, São Paulo alone had 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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