A critical part of this research every year is the global survey of art and antique dealers. I would like to say a very special thanks once again to Erika Bochereau of CINOA (Confédération Internationale des Négociants en Oeuvres d’Art) for her continued support of this research, along with the presidents of the dealer associations around the world who promoted the survey among their members in 2020. Thanks also to Art Basel for helping to distribute the survey. The completion of this report would not have been possible without the help of all individual dealers who took the time to complete the survey and share their insights through interviews and discussions during the year.

Many thanks also to all of the top- and second-tier auction houses that took part in the auction survey and offered their insights on the evolution of this sector in 2020. Thanks especially to Susan Miller (Christie’s), Simon Hogg (Sotheby’s), Jason Schulman (Phillips), and Eric Bradley (Heritage Auctions), and to Neal Glazier from Invaluable.com for the use of their online auction data.

I am very grateful to Tamsin Selby of UBS for her help with the HNW collector surveys, which expanded significantly this year, providing hugely valuable regional and demographic insights for the report.

The primary fine art auction data supplier for this report was Artory, and my sincerest thanks to Nanne Dekking along with Lindsay Moroney, Anna Bews, and Chad Scira for their hard work and dedication in putting together this very complex set of data. The auction data on China is supplied by AMMA (Art Market Monitor of Artron), and I am very grateful for their continued support of this research on the Chinese auction market. Many thanks also to Richard Zhang for his help researching the Chinese art market.

I would like to thank Joe Elliot and the team at Artlogic for their valuable insights into the evolution of OVRs, and many thanks also to Simon Warren and Alexander Forbes for the use of data from Artsy.

Thank you to Diana Wierbicki of Withersworldwide for her expert contribution on US tax and regulations, and special thanks also to Rena Neville for her legal insights on the Fifth EU Anti-Money Laundering Directive. Many thanks also to Matthew Israel for his commentary on the development of OVRs. I am very grateful to Anthony Browne for his help and advice on parts of the report, and to Taylor Whitten Brown (Duke University) for her help and insights with both of the dealer surveys.

Finally, thanks to Noah Horowitz and David Meier for their time and efforts in helping to coordinate the research.

Dr. Clare McAndrew
Arts Economics