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Source: The Art Market 2021 — View full report (PDF)
This is an exact page excerpt from the Acknowledgments section of the full report.

Chapter 5 looks at the online art market, and
the rapid evolution in sales in 2021. The chapter shows
how the dealer sector shifted sales and strategies
online in 2020, with commentary on the development
of online viewing rooms (OVRs). It also shows
the growth of online auctions, and the evolution of
e-commerce in the top- and second-tier auction
houses. It also provides insights into how HNW
collectors have interacted with the market online
and through social media, and their preferences
in 2020 and for the future.

Chapter 6 provides a brief overview of world
wealth, showing some of the preliminary changes in
the size and distribution of HNW wealth that have
emerged in 2020. This chapter presents the results of
a comprehensive survey of HNW collectors, conducted
in conjunction with UBS Investor Watch and covering
the largest sample size and widest geographical
area to date, including responses from 2,569 collectors
in the US, the UK, France, Germany, Italy, Mainland
China, Hong Kong, Taiwan, Singapore, and Mexico.

Chapter 7 discusses the potential employment and
economic effects of the pandemic on the art market,
looking at its impact on employment as well as the
range of ancillary and support industries connected
to the art trade. It concludes the report by reviewing
some of the key issues arising from the crisis in
2020 that may continue to affect the market in 2021.

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 of the individual dealers who
took the time to support this research by completing
the survey. I am extremely grateful to them all for
their continued help and support. Special thanks also
to all those dealers who shared their valuable
insights on the art market through interviews and
discussions during the year.

Many thanks also to all of the top- and second-tier
auction houses that also took part in the auction
survey, and who 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). Thanks also 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 5

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

Acknowledgments

advice on parts of the report, and also 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