An Art Basel & UBS Report Prepared by Dr. Clare McAndrewFounder of Arts Economics 1 |Introduction4 |Collectors & Dealers3 |Global Collecting2 |International Trade5 |Events & OutlookIndex Index 4HNW Collectors & Dealers in 2022 Tables and Figures3Acknowledgments6Director’s Foreword8Foreword by UBS9 4.1| HNW Collectors and Dealers1034.2| Buying Art in Person versus Online1054.3| Local versus Global Galleries111 Key Findings10 5Events, Travel & Outlook 5.1| Events and Attendance1275.2| HNW Collectors’ Outlook in 2022134 2The International Trade in Art 2.1| Introduction222.2| Imports272.3| Exports332.4| US Bilateral Trade39 Appendix / Sources Used inA Survey of Global Collecting in 2022146 3Global Collecting in 2022 3.1| Introduction563.2| Description of the HNWCollector Sample593.3| The Content of Collections643.4|Spending by HNW Collectors773.5| HNW Collector Expenditure2019–2022793.6| HNW Collector Expenditureby Medium883.7|HNW Collector Expenditureby Artist Focus933.8| Buying Channels Used by HNWCollectors97 Tables and Figures 1Introduction Figure 1.1|Global Billionaire Wealth and Population (March Totals 2008–2022)17Figure 1.2|Sales Figures for Christie’s, Sotheby’s and Phillips H1 2019–202218Figure 1.3|Number of Art Fairs 2019–202219 2The International Trade in Art Figure 2.1|Aggregate Global Imports of Art and Antiques 1985–202228Figure 2.2|Annual Change in the Value of Global Sales and Global Imports ofArt and Antiques28Figure 2.3|Number of Markets Reporting Imports of Art and Antiques 1985–202129Figure 2.4|Share of Value of Global Imports of Art and Antiques by Region, Selected Years31Figure 2.5|Aggregate Global Exports of Art and Antiques 1985–202234Figure 2.6|Annual Change in the Value of Global Sales and Global Exports ofArt and Antiques34Figure 2.7|Number of Markets Reporting Exports of Art and Antiques 1985–202135Figure 2.8|Share of Value of Exports of Art and Antiques by Region, Selected Years36Figure 2.9|Share of Value of Net Exports of Art and Antiques by Region, Selected Years37Figure 2.10|Number of Markets Exporting Art and Antiques to the US39Figure 2.11|US Imports and Exports of Art and Antiques 1985–202240Figure 2.12|Number of Markets Exporting Art to the US and Share of Top 5 by Value41Figure 2.13|Number of Markets Importing Art from the US and Share of Top 5 by Value42 3Global Collecting in 2022 Figure 3.1|Trade and Billionaire Wealth in Survey Markets57Figure 3.2|Length of Time Collecting61Figure 3.3|HNW Collectors’ Allocation to Art in their Overall Wealth Portfolio62Figure 3.4|Size of HNW Collectors’ Collections65Figure 3.5|Share of Works by Local versus Foreign Artists in HNW Collectors’ Collections66Figure 3.6|Share of Artist’s Exhibitions in their Home Market 202268Figure 3.7|Share of Works in HNW Collectors’ Collections by Artist’s Status71Figure 3.8|Share of Works by Male versus Female Artists in HNW Collectors’ Collections73Figure 3.9|Share of Works Held in HNW Collectors’ Collections by Medium74Figure 3.10|Sales of Art-Related NFTs on NFT Platforms 2019–202275Figure3.11|Share of HNW Collectors Who Purchased Art, Collectibles, and Luxury Assetsin 2020–202277Figure 3.12|HNW Collectors’ Median Volume of Purchases by Region 2019–202280Figure 3.13|HNW Collectors’ Median Expenditure on Art and Antiques 2019–202281Figure 3.14|Share of HNW Collectors by Spending Level 2019–202282Figure 3.15|Share of HNW Collectors Spending Over $1 Million 2019 versus 202283Figure 3.16|Median Expenditure on Art and Antiques by Male versus Female HNW Collectors84Figure3.17|HNW Collectors’ Most Common Price Range for Purchasing Art86Figure 3.18|Share of HNW Collectors’ Expenditure by Medium in 2021 and 202288Figure3.19|HNW Collectors’ Median Expenditure on Digital Art89Figure 3.20|Median Number of Digital Art Works with an NFT Bought by HNW Collectors90Figure3.21|HNW Collectors’ Purchase Focus Regarding Artists in 202293Figure 3.22|HNWCollectors’ Expenditure on Artists in 2022 by Length of Time Collecting94Figure 3.23|Sales Channels HNW Collectors Used for Purchasing in 2022–H199Figure 3.24|Share of HNW Collector Expenditure by Sales Channel in 2022–H1100Figure 3.25|HNW Collectors’ First Preferences for Purchasing Art in 2022101 HNW Collectors & Dealers in 2022 Table 1|Gallery Location Choices and Import Markets 2022116Table 2|HNW Collectors’ Top Choices of Cities to View and Buy Art119 Figure 4.1|HNW Collector Preferences for Purchasing Art from a Dealer in 2022105Figure 4.2|HNW Collector Preferences for Viewing Art for Sale in 2022106Figure 4.3|Share of HNW Collectors Buying Art Online Without Viewing in Person107Figure 4.4|HNW Collectors’ Top Motivations for Viewing Works of Art in Person109Figure 4.5|HNW Collectors’ Focus Regarding Galleries in 2022111Figure 4.6| Number ofGalleries HNW Collectors Purchased From 2019–2022113Figure 4.7|Preferences of HNW Collectors for Local versus Overseas Galleries in 2022115Figure 4.8|Share of Galleries that HNW Collectors Purchased from by Ga