• Issue
  • Apr 30, 2024

Art Fair Report: Brick by BRIC

Installation view of HAEGUE YANG’s Contingent Spheres, 2020-24, at Art Basel Hong Kong Encounters 2024. Photo by Sebastiano Pellion di Persano. Courtesy Kukje Gallery, Seoul/Busan.

The Art Basel and UBS Global Art Market Report 2024 found that global sales topped USD 65 billion in 2023 while, year-on-year, transactions had fallen by four percent. The report also found that despite economic troubles China replaced the United Kingdom as the second-largest art market with 19 percent of the global share, behind the United States at 42 percent.