Cleveland Museum of Art · CC0 1.0Five segments, five dynamics
All segments rise in 2024, but at very different rates: from +3.1% for furniture to +9.4% for tribal art.
The index by segment makes it possible to understand what lies behind the general trend. It weights each segment by its weight in transaction volume, so that painting, which accounts for 38% of the market, influences the global index more than tribal art.
This page details the performances, drivers and risks specific to each segment.
The segments in 2024
Change in the index, December 2023 to December 2024.
Weight and performance of each segment
| Segment | Share of volume | Volume | 2024 change |
|---|---|---|---|
| Painting | 38% | €25.8bn | +4.9% |
| Contemporary art | 22% | €14.9bn | +8.7% |
| Furniture and other | 18% | €12.2bn | +3.1% |
| Sculpture | 14% | €9.5bn | +5.2% |
| Tribal art | 8% | €5.4bn | +9.4% |
Reading each segment
Painting
The market's leading segment, painting is driven by the masters of the 19th century and the modern period. The very large sales concentrate a significant share of the volume.
Contemporary
Contemporary art benefits from rejuvenation of buyers and the vitality of fairs. It remains the most volatile segment.
Sculpture
Sculpture is rising steadily, supported by edition bronzes and monumental pieces for public collections.
Furniture and other
Antique furniture suffers from a less marked taste for classical decorative arts, but exceptional pieces hold up.
Tribal art
The segment benefits from better traceability, framed restitutions and the arrival of collectors from Asia and the Middle East.
What explains the gaps
Three factors explain the difference in performance. Traceability first: segments whose provenance is better documented attract more confident buyers. Supply next: a segment in which quality works are scarce sees its prices supported. Demand finally: collectors in Asia-Pacific and the Middle East are turning more towards contemporary art and tribal art.
The gap between segments tends to narrow when the market slows. In a rising period, the most recent segments gain faster; in a falling period, they also fall further.
Weight of segments over the years
- Painting at 46%
The segment still dominates very clearly.
- Contemporary at 17%
Arrival of new collectors.
- Tribal art at 6%
Reinforced traceability.
- Painting at 38%
Rebalancing in favour of recent segments.
Caution on small segments
Old segment or recent segment
Old segment
Old masters, 19th century, furniture- Scarce supply
- More stable prices
- Provenance to document
Long-term value.
Recent segment
Contemporary, photography- Abundant supply
- More volatile prices
- Market driven by fairs
Dynamism and risk.
Comparing two segments
A dealer
« The market does not rise everywhere at the same time: that is what makes analysis useful. »
Vocabulary of segments
- Segment
- Category of works tracked separately.
- Weighting
- Weight of a segment in the global index.
- Volatility
- Size of the variations of an index.
- Traceability
- Ability to trace the history of a work.
Frequently asked questions
Why is painting rising less?
Its large weight and the maturity of the segment dampen the variations.
Where can I see the detail of the painting segment?
In the Painting section and on the breakdown by segment page.
Do NFTs form a segment?
No, they are tracked separately: see Digital market and NFTs.
How are segments defined?
According to the nomenclature published in the methodology.
Useful documents
Contacts
Related pages
Global indexThe OIMAP global index tracks changes in art market prices at constant quality, every month, since 2015.›
Breakdown by segmentHow the market's volume is split between painting, contemporary art, furniture, sculpture and tribal art.›
PaintingThe painting market: old masters, the 19th century and the modern period, with their prices, players and precautions.›
Contemporary artThe contemporary art market: emerging artists, galleries and fairs, a dynamic and volatile segment.›
Compare the regions
Image credits (17)
- View of Venice, Jacopo de' Barbari (1500) — Cleveland Museum of Art, CC0 1.0
- Tetradrachm: Owl, Crescent Moon, Olive Branch (reverse) (480–449 BCE) — Cleveland Museum of Art, CC0 1.0
- Nuova pianta di Roma data in luce da Giambattista Nolli l’anno MDCCXLVII, known as La Pianta Grande di Roma, Giovanni Battista Nolli (1748) — Cleveland Museum of Art, CC0 1.0
- The Auction House: The Town Crier, Honoré Daumier (1864, printed 1920) — Cleveland Museum of Art, CC0 1.0
- Nuova pianta di Roma data in luce da Giambattista Nolli l’anno MDCCXLVII, known as La Pianta Grande di Roma, Giovanni Battista Nolli (1748) — Cleveland Museum of Art, CC0 1.0
- Coin of Demetrios, I (reverse) (200–190 BCE) — Cleveland Museum of Art, CC0 1.0
- Nuova pianta di Roma data in luce da Giambattista Nolli l’anno MDCCXLVII, known as La Pianta Grande di Roma, Giovanni Battista Nolli (1748) — Cleveland Museum of Art, CC0 1.0
- An Old Clothes Shop, Seven Dials, John Thomson (1877) — Cleveland Museum of Art, CC0 1.0
- Nuova pianta di Roma data in luce da Giambattista Nolli l’anno MDCCXLVII, known as La Pianta Grande di Roma, Giovanni Battista Nolli (1748) — Cleveland Museum of Art, CC0 1.0
- Leopard d'Or of Edward III of England (1327–1377) — Cleveland Museum of Art, CC0 1.0
- Nuova pianta di Roma data in luce da Giambattista Nolli l’anno MDCCXLVII, known as La Pianta Grande di Roma, Giovanni Battista Nolli (1748) — Cleveland Museum of Art, CC0 1.0
- Architectural Conference (c. 1622) — Cleveland Museum of Art, CC0 1.0
- Stater: BODVOC on plain field (obverse); Horse, Wheel, and Crescent (reverse) (10 BCE–20 CE) — Cleveland Museum of Art, CC0 1.0
- Christ in the Garden of Gethsemane, Hans Daucher (1500s) — Cleveland Museum of Art, CC0 1.0
- Sports on a Frozen River, Aert van der Neer (ca. 1660) — The Metropolitan Museum of Art, CC0 1.0
- Prayer Niche (Mihrab) (c. 1500s or mid-1900s) — Cleveland Museum of Art, CC0 1.0
- Views: The Market on the Molo, Antonio Canaletto (1735–1746) — Cleveland Museum of Art, CC0 1.0