What the $57.5bn contraction changed
Sales value fell 12% while transactions rose 3%. The 2024 market shifted away from the top end rather than simply stopping.
Value fell; activity did not stop
The 2025 report reviews 2024. Global sales fell 12% to about $57.5 billion, while transactions rose 3% to roughly 40.5 million. Together, the figures show a contraction concentrated at the high end alongside greater activity at lower prices.
Public auctions carried more pressure
Dealer sales declined 6% and public auctions 25%, while auction-house private sales rose 14%. Public-auction results alone do not describe every part of the market.
Major markets adjusted at different rates
The US held 43% at about $24.8 billion, down 9%; the UK 18% at $10.4 billion, down 5%; China 15% at $8.4 billion, down 31%; France reached $4.2 billion, down 10%. Online sales were $10.5 billion, 18% of the market and still 76% above 2019.
The clearest signal from 2024 is that value and transaction count moved in opposite directions. Price level and channel need to be read separately.