Global art market up slightly at $67.8 billion in 2022
The art market rose slightly to $67.8 billion last year despite an uncertain global climate, thanks to high-end and digital sales, an annual report said on Tuesday.. "The year 2022 saw the art market hold onto its post-pandemic rebound and strengthen further despite severe economic uncertainty and the return of war to Europe," said the report by Art Basel, a major organiser of art fairs, and Swiss bank UBS. Growth in the market came from sales of high end art and from digital art backed by non-fungible tokens (NFTs).