Art Basel 2024

China’s art market is divided into two segments: ‘Artworks’, which include paintings, sculptures, installations, photographs, industrial art, and limited replicas of artworks, and ‘Cultural relics’, which include movable and immovable relics. Artworks are less regulated, with the Administrative Measures for Operation of Artworks (effective from 2016) being the most important regulation. It requires pre-approval from […]

After experiencing two years of expansion, sales in the art market decelerated in 2023. Factors such as rising interest rates, persistent inflation, geopolitical conflicts, and uncertainty in global politics contributed to a more discerning and cautious approach among high-end buyers. This segment had been crucial in driving sales recovery following the COVID-19 pandemic in 2021