Industry data

For the first time in its history Bonhams has reported an annual turnover of more than $1bn (£840m). The figures released for 2022 follow a raft of acquisitions by the company.

The top auction houses announced their full year sales results revealing that Christie’s is back on top.

A group of scientists and art specialists met to discuss proposals to create industry-wide standards for condition reports and the verification of art and antiques.

Phillips reported total sales of $746m for the first half of 2022, up 37% on the previous year.

Christie’s released its first half results for 2022, reporting total sales at £3.3bn ($4.1bn), up 34% on the previous year.

The red tape of Brexit and the continued imposition of VAT on art imports is having a material impact on the British art market according to a macro-level analysis of global art commerce.

Auction house Bonhams has bought Scandinavian firm Bukowskis.

Auction house Christie’s reported preliminary total sales of $7.1bn (£5.2bn) including fees for 2021.

Auction house Sotheby’s has reported total sales (including associated fees) for the year to date at $7.3bn (£5.5bn).

Rising sales of second-hand goods are helping to boost the UK's economy.

Online art sales reached $6.8bn (£5bn) in the first six months of the year, up 72% on the first half of 2020 according The Hiscox Online Art Trade Report.

Dealers’ sales improved during the first part of the year according to a new report sponsored by Art Basel and UBS, though the results were less positive for smaller businesses.