Art Dealers & Galleries Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 6/9/2014
SIC Codes: 5999
NAICS Codes: 453920
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
View Full Sample Add To Cart

Excerpt from Art Dealers & Galleries Industry Profile

Companies in this industry display and sell original and limited-edition works of art. Two of the world's leading auction houses that handle art are Christie's (based in the UK) and Sotheby's (US). Other major establishments include Galerie Thaddaeus Ropac (Austria), Gerald Peters Gallery (US), Poly International (China), and the Saatchi Gallery (the UK).

The global art market generates about $65 billion in revenue, according to The European Fine Art Foundation (TEFAF). Major markets for art dealers and auctions include China, the UK, and the US. The maturing economy of China has quickly elevated that country to a leading role in the fine art world.

The US art dealers and galleries industry includes about 6,000 companies with combined annual revenue of about $20 billion.

COMPETITIVE LANDSCAPE

Consumer spending, interest in alternative financial investments, and home decorating trends drive demand. The profitability of individual companies depends on effective merchandising and marketing. Large companies have advantages in buying, financing, and marketing. Small companies can compete effectively by offering unique products, providing superior customer service, or serving a local market. The industry is fragmented: the top 50 US companies generate about 40 percent of revenue.

Art dealers compete with a wide range of retailers, including mass merchandisers and home decor stores.

PRODUCTS, OPERATIONS & TECHNOLOGY

Major products include original pictures, drawings, prints, photographs, and sculptures. Prints include lithographs, giclées, serigraphs/silkscreens, posters, and etchings. Art dealers may also sell collectibles, books, or ...

 
View Full Sample Add To Cart Return to the Industry Profile Menu

Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?

Learn More About Subscription Options