China returned to world leader position with $4.8 billion

in turnover and 91,400 lots sold.

The USA was second with $3.5 billion and 72,500 lots sold The United Kingdom came third with 17% of the global auction turnover.

Global auction turnover totalled $12.45 billion in 2016 with 675,500 lots sold

The lots sold in the West increased +11% (USA +24%, UK +27%)

96% of the lots sold fetched under $50,000 worldwide New York ($3.2 billion), Beijing ($2.3 billion), London ($2.1 billion) and Hong Kong ($1.15 billion) The year's best result was $81.5 million for French artist Claude Monet's La Meule (1891)

The world's top-selling artist in 2016 was Chinese artist Zhang Daqian ($355 million)

Total artworks offered for auction worldwide increased +8% The market's growth drivers are the ease of access to Art Market information, electronic sales, market inancialisation, a growing population of ever-younger art consumers (from 500,000 in the 1950's to 70 million in 2016) on all continents. (MORE) AsiaNet TR

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(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)