UK Art Market Slips from 2nd Place as Sales Decline Pre and Post-Brexit
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The UK is still the world's 2nd biggest art market after the US, but its global market share has been declining since 2008.
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France's art market is much smaller than perceived, accounting for just 7% of global art sales in 2022.
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The UK's art market declines began before Brexit, with sales and global market share dropping steadily since 2016.
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The UK is selling fewer high value artworks at auction compared to the US and China.
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The UK's status as an art market hub depends heavily on cross-border trade, which has declined since Brexit.