The Art Basel and UBS Global Art Market Report: Continued Growth for Global Art Market, With Evidence of Active Buying by Millennial Collectors

The Art Basel and UBS Global Art Market Report: Continued Growth for Global Art Market, With Evidence of Active Buying by Millennial Collectors

PR Newswire

ZURICH, March 8, 2019

ZURICH, March 8, 2019 /PRNewswire/ --

UBS and Art Basel today published the third edition of the Art Basel and UBS Global Art Market Report, authored by renowned cultural economist Dr Clare McAndrew, and integrating strands of research from UBS. A comprehensive and macro-level analysis of the global art market in 2018, the report covers key trends in the market in the context of wider economic shifts.

The key findings include:

The report draws on two additional strands of UBS research:

Mark Haefele, Chief Investment Officer, UBS Global Wealth Management, said: "The art market is a fascinating reflection of economic developments and trends in wealth creation. Most notable is the growth of billionaire and millennial spending power, particularly in Asian markets. As ever, passion remains the market's lifeblood and drives the best collectors who value quality pieces that provide pleasure and cultural enrichment."

Download the full Art Basel and UBS Global Art Market Report here.   

 

 

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