France’s Art Auction Market Experiences Decline After Two Years of Growth
In its annual assessment of France’s auction market, the auction house Council reported a record-breaking €4.6bn in overall auction sales, marking more than 7% growth for the second consecutive year. However, the fine arts and collectibles sectors saw a decline after two years of strong post-Covid-19 recovery.
The increase in overall auction sales was primarily driven by a significant 24.7% rise in the sales of second-hand cars and industrial materials, which accounted for over half of the total value of auction sales in France.
On the other hand, sales of fine arts categories faced challenges. Contemporary art sales decreased by 4% (€248m), Old Masters and sculptures by 18% (€110m), Asian art by 19% (€103m), and books and manuscripts by 13%. Ancient furniture and art objects, impacted by changing tastes and scandals, experienced a sharp 43% drop in sales (€128m).
The council’s yearly assessment is based on data from 482 auction companies in France. While initial results have been released, a more comprehensive study is planned for this spring before further commentary is provided.
Source
Cillian O’Rourke, studied at the National College of Art and Design in Dublin, Ireland, where he majored in Visual Communication. His work spans graphic design, illustration, and branding, with a distinct minimalist style that emphasizes simplicity and impact. Cillian has collaborated with international brands and runs his own design studio focusing on creative solutions for startups.