Dr Clare McAndrew.
The TEFAF report was produced this year by Maastricht University professor Rachel Pownall (see ATG No 2282, 2284).
While the two reports show similar trends, the figures can differ dramatically as these three core statistics suggest.
Total global sales
TEFAF report
$45bn in 2016 up 1.7% on comparable figures for 2015
Art Basel report
$56.6bn 2016, down 11%
Market share
TEFAF
1. US (29.5%) 2. UK (24%)
3. China (18%)
Art Basel
1. US (40%) 2. UK (21%)
3. China (20%)
Dealer/auction sales
TEFAF
62.5% dealers, 37.5% auctions
Art Basel
57% dealers, 43% auctions
