Pune, Maharashtra -- (SBWIRE) -- 10/30/2023 -- According to HTF Market Intelligence, the Global Art Auction market to witness a CAGR of 3% during the forecast period (2023-2029). The Latest Released Art Auction Market Research assesses the future growth potential of the Art Auction market and provides information and useful statistics on market structure and size. This report aims to provide market intelligence and strategic insights to help decision-makers make sound investment decisions and identify potential gaps and growth opportunities. Additionally, the report identifies and analyses the changing dynamics and emerging trends along with the key drivers, challenges, opportunities and constraints in the Art Auction market. The Art Auction market size is estimated to increase by USD 73 BILLION at a CAGR of 3% from 2023 to 2029. The report includes historic market data from 2023 to 2029. The market value is pegged at USD 38 BILLION.

The Major Players Covered in this Report: Sotheby's (United States), Christie's (United Kingdom), Phillips (United Kingdom), China Guardian Auctions (China), Poly Auction (China), Bonhams (United Kingdom), Heritage Auctions (United States), Artcurial (France), Dorotheum (Austria), Bukowskis (Sweden), K Auction (South Korea), Shinwa Art Auction (Japan), Larasati Auctioneers (Indonesia), Moscow Auction House (Russia), Finarte (Italy)

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Definition:
An art auction is a public event or platform where works of art are put up for sale to the highest bidder. These auctions can take place in physical locations, such as auction houses or galleries, or online through various art auction websites. The primary goal of an art auction is to facilitate the buying and selling of art pieces, including paintings, sculptures, photographs, and other forms of visual art.

Market Trends:
The trend of online art auctions was already growing before 2022, but the COVID-19 pandemic accelerated this shift. Many traditional auction houses and online platforms started offering virtual auctions, making art more accessible to a global audience.

Market Drivers:
The availability of high-quality artworks and the demand for specific artists or styles can greatly affect auction prices. Rare and highly sought-after pieces tend to drive up prices.

Market Opportunities:
Art auctions provide a platform to acquire artworks that you admire or that resonate with you personally. You can build a private art collection to enjoy and potentially pass down through generations.

Market Leaders and their expansionary development strategies
The acquisition of Concierge Auctions, the leading global marketplace for luxury real estate auctions, was announced on November 17, 2021, by Sotheby's, the world's foremost destination for fine art and luxury goods, and Realogy Holdings Corp., the largest full-service residential real estate services provider in the United States

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The titled segments and sub-section of the market are illuminated below:
In-depth analysis of Art Auction market segments by Types: Live On-Site Auction, Online Auction, Silent Auction, Sealed Bid Auction)
Detailed analysis of Art Auction market segments by Applications: Decoration, Investments, Others

Major Key Players of the Market: Sotheby's (United States), Christie's (United Kingdom), Phillips (United Kingdom), China Guardian Auctions (China), Poly Auction (China), Bonhams (United Kingdom), Heritage Auctions (United States), Artcurial (France), Dorotheum (Austria), Bukowskis (Sweden), K Auction (South Korea), Shinwa Art Auction (Japan), Larasati Auctioneers (Indonesia), Moscow Auction House (Russia), Finarte (Italy)

Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
- The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
- North America (United States, Mexico & Canada)
- South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
- Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
- Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).

Objectives of the Report:
- -To carefully analyse and forecast the size of the Art Auction market by value and volume.
- -To estimate the market shares of major segments of the Art Auction market.
- -To showcase the development of the Art Auction market in different parts of the world.
- -To analyse and study micro-markets in terms of their contributions to the Art Auction market, their prospects, and individual growth trends.
- -To offer precise and useful details about factors affecting the growth of the Art Auction market.
- -To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Art Auction market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.

The market is segmented by Global Art Auction Market Breakdown by Application (Decoration, Investments, Others) by Type (Live On-Site Auction, Online Auction, Silent Auction, Sealed Bid Auction) by By Types of Art (Painting, Sculpture, Antique, Digital art, Limited edition prints, Others) and by Geography (North America, South America, Europe, Asia Pacific, MEA).
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Key takeaways from the Art Auction market report:
– Detailed consideration of Art Auction market-particular drivers, Trends, constraints, Restraints, Opportunities, and major micro markets.
– Comprehensive valuation of all prospects and threats in the
– In-depth study of industry strategies for growth of the Art Auction market-leading players.
– Art Auction market latest innovations and major procedures.
– Favourable dip inside Vigorous high-tech and market latest trends remarkable the Market.
– Conclusive study about the growth conspiracy of Art Auction market for forthcoming years.

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Major highlights from Table of Contents:
Art Auction Market Study Coverage:
- It includes major manufacturers, emerging player's growth story, and major business segments of Art Auction market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
- Art Auction Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
- Art Auction Market Production by Region Art Auction Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.
Key Points Covered in Art Auction Market Report:
- Art Auction Overview, Definition and Classification Market drivers and barriers
- Art Auction Market Competition by Manufacturers
- Art Auction Capacity, Production, Revenue (Value) by Region (2023-2029)
- Art Auction Supply (Production), Consumption, Export, Import by Region (2023-2029)
- Art Auction Production, Revenue (Value), Price Trend by Type {Live On-Site Auction, Online Auction, Silent Auction, Sealed Bid Auction)}
- Art Auction Market Analysis by Application {Decoration, Investments, Others}
- Art Auction Manufacturers Profiles/Analysis Art Auction Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
- Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.

Major questions answered:
- What are influencing factors driving the demand for Art Auction near future?
- What is the impact analysis of various factors in the Global Art Auction market growth?
- What are the recent trends in the regional market and how successful they are?
- How feasible is Art Auction market for long-term investment?

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