Artsy, the world’s largest online marketplace for discovering and collecting art, is delighted to share its annual end-of-year report, The Artsy Market Recap 2024. Now in its third year, the report highlights key trends that shaped the art market in A must-read for those tracking the state of the art world and its future trajectory, The Artsy Market Recap 2024 report covers artists that have experienced surges in commercial interest from across geographies and segments, as well as big-picture findings that illustrate the state of the art market overall.
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This year’s report—which draws on Artsy’s industry-leading primary market data to present unique findings on what collectors have been buying in 2024—provides insights into emerging artists, stable market leaders, and artists making an impact on the commercial art world, as well as evolving collector behaviors.
Reflecting on 2024 and looking forward to 2025, Artsy’s CEO, Jeffrey Yin, commented, “We’re
delighted to present the findings from our annual Artsy Market Recap, which unveils data-driven
insights about the past year in the art industry. In what has been both a challenging year—amid both economic and geopolitical uncertainty—but also a resilient one, the online art marketplace in particular has experienced notable growth.” “At Artsy, we’ve seen gallery sales increase 15% year-over-year—the highest mark since 2021—and witnessed collector engagement surge by 48%. Also, with high-net-worth individuals reporting that they prefer to buy art online, we’ve seen this reflected firsthand in our e-commerce sales, which are up 38% year-over-year,” he continued.
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Yin concluded, “While acknowledging that the art market at-large has of late been experiencing a
period of recalibration, recent signals—such as sales made during Art Week in Miami and a more
upbeat atmosphere of positivity and vibrant energy—I think there’s reason to be both optimistic and excited about the outlook for 2025. I’m hopeful that with increased economic stability, the green shoots we’ve witnessed emerge across the market recently bode well for artists, galleries, and the broader art industry in 2025.”
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Five Key Findings from The Artsy Market Recap 2024
1. The Most In-Demand Artist of 2024: Nigerian artist Slawn had the most growth in demand
on Artsy in 2024, propelled by high-profile collaborations (Rolex, Louis Vuitton), a breakout
solo show at Saatchi Yates, and a feature at the Rubell Museum.
2. The Breakout Star Artist of 2024: Danish painter Oliver Bak is the top breakout artist ofOn Artsy, Bak led inquiries among new artists, bolstered by his debut at Sprüth Magers
during Berlin Art Week.
3. The Artists with the Most Stable Markets on Artsy: Andy Warhol has had the most stable
market on Artsy over the past five years. Other icons like Banksy and Damien Hirst also
have maintained consistent market demand over the past five years, demonstrating the art
market’s reliance on household names with diverse price points.
4. The Most Sought-After Artists by Nationality: Indian artists experienced the strongest
surge in demand in 2024. Established figures like M. F. Husain and S. H. Raza led the
charge, alongside a new wave of contemporary talents such as Raghav Babbar and Tanya
Goel.
5. The Market for Women Artists’ Works: Younger women artists are seeing more equity in the
market, demonstrating progress. Women artists now account for 29% of Artsy inquiries, up
from 17% five years ago in 2019. Emerging figures like Charlotte Keates (645% increase in
demand) and leaders like Julie Mehretu are shaping the future of equity in the art market.
For those exploring art market trends, cultural economics, or digital commerce, The Artsy Market Recap 2024 report offers compelling stories and angles.
You can read the report in full, by downloaded it from Artsy, here.
©2024 Artsy
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