In fact, the plethora of smaller fine art auctioneers’ hammer totals collectively make up roughly one quarter of the market. The grand total overall for UK auctions stood at close to £3.2bn in the calendar year of 2017.
Regional rooms’ sales volumes have grown steadily in recent years – rising from £763m in 2015 to £821m in 2017 at a compound annual growth rate of 4%, according to new figures from Auction Technology Group. It adds weight to the general impression that the ‘regionals’ are proving increasingly successful in attracting ‘middlemarket’ material.
Data analysis by Dr Lorenzo Basso, data scientist, Auction Technology Group