Industry data

Sotheby’s made more sales but at lower margins in the first half of 2018 according to its latest financial results.

Global auction sales at Christie’s, Sotheby’s and Phillips jumped 21.6% in the first half of 2018, according to the latest report by ArtTactic.

Consignors tempted back by salerooms to sell at auction in 2017 has helped put art top of the league of investment assets, according to the latest report.

Only 13 of the top 100 artists at auction last year were women, according to a recent analysis by the art market site MutualArt.

Auction house Sotheby’s has reported a 70% jump in private sales in the first three months of 2018 to $247m (£182m).

Nearly 90% of art and antiques dealers want easier ways to borrow money to fund purchases and nearly a third believe the lack of available lending hampers growth, according to a recent report.

The growth of the global online art market slowed in 2017 as price transparency remains a key issue for new buyers.

Art and antiques exports from the UK continued to fall in 2017, recording a decline of 2.2% to £4.84bn, according to UK trade figures from HMRC. At the same time, there were areas of significant growth, including exports to China which rose by 350% to £115.9m in 2017.

The global art market grew by 12% in 2017 with the expansion driven by high-end sales as China overtook the UK as the second largest market, according to Dr Clare McAndrew’s latest report.

Sotheby’s reported a 12% jump in sales last year to $5.5bn (£4bn). The US-listed auction house said profit, or adjusted net income, improved by 22% from $99.6m to $121.7m in 2017, boosted by an increase in commission and fees.

Museums in the UK have been selling off their collections and have been unable to buy new works of art due to funding issues, a “deeply depressing” report has revealed.