Art Market Research Reports & Industry Analysis

Art is the process or product of intentionally arranging objects in ways that influence and affect the senses, emotions, and/or intellect. Art includes an extensive scope of activities, creations, and forms of expression. The art industry consists of art galleries as well as art auction houses that engage in the sale of limited edition and original works of art. These companies buy artwork either from the artist or from an individual owner and then proceed to sell the art to consumers of the product.

In-demand products include sculptures, drawings, photographs, original pictures, and prints. Popular subjects in the art industry include marine life, wildlife, florals, landscapes, figures, and animals. Regardless of the subjects, when handling original artwork several factors must be taken into consideration: authenticity, quality, condition, and rarity. These characteristics are imperative when assessing the value of a piece of art.

Dealers may also offer a variety of collectibles, books, artistic supplies, and additional services. These services may include framing, delivery, and hanging. Certain companies may offer an appraisal of artwork, and high-end dealers may assist museum curators and individual collectors in locating certain pieces of art or developing collections.

Art dealers, galleries, and auction houses compete with many other retailers, including home décor stores and mass merchandisers. As demand for art products is propelled by consumer spending and trends in decorating, the profits these companies accrue rely on the merchandising and marketing strategies they use. Larger companies dealing in art have an advantage, but smaller companies also effectively compete in the art market by offering unique products, providing excellent service to their customers, or focusing on specific local markets.