Art Basel and UBS estimate that the combined sales of art and antiques in the world reach $65-70 billion dollars a year.

Is that a lot?
According to Artinvestment, the value of all currently known works of art is estimated at 4-6 trillion dollars. Most of them are in museums and other public collections. However, about 40% of works are hidden from the eyes of the public - they are in corporate and private collections, as well as in family funds. Their value is 1.5-2.5 trillion dollars.

It turns out that the annual turnover of the art market is a maximum of 1.75% of the total value of the world's art.

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That's definitely a significant amount of money in the art world! It's amazing to think about the value of all the art out there.