"Japan's total art sales reached $692 million in 2024, two percent over 2023, despite a global contraction of 12 percent during the same period, according to the latest Japanese Art Market report prepared by economist Clare McAndrew, who also oversees studies for Art Basel and UBS."
"The report, which is commissioned by the Japanese government, found that around 93 percent of transactions in Japan were for $10,000 or less. Dealers and galleries accounted for about 71 percent of sales, with auction houses handling the remainder 30 percent."
"The San Francisco Art Fair will stage its 14th edition from April 16 to 19 at Fort Mason. This year, the fair will spotlight Asian American and Pacific Islander artists, partnering with institutions like the Asian Art Museum, the Asian American Art Initiative at the Cantor Arts Center at Stanford University, and the Chinese Culture Center of San Francisco."
Japan's art market demonstrated resilience in 2024, reaching $692 million in total sales, representing a two percent increase from 2023 while the global art market contracted by twelve percent. The market is characterized by predominantly small-value transactions, with approximately ninety-three percent of deals valued at $10,000 or less. Dealers and galleries control the majority of the market, accounting for seventy-one percent of sales, while auction houses handle the remaining thirty percent. Meanwhile, the San Francisco Art Fair will highlight Asian American and Pacific Islander artists in its upcoming edition, partnering with major cultural institutions. Gallery exhibitions across Asia and Europe continue to showcase emerging and established artists with Asian backgrounds.
Read at Artnet News
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