Who are the main players in the art market?

The market is held together by a handful of roles: artists, commercial galleries, dealers, fairs (Art Basel, Frieze, TEFAF) and auction houses. Worldwide, three houses — Christie's, Sotheby's and Phillips — account for more than 80 per cent of turnover. They are now being joined by online platforms and by fractional (co-)ownership, which opens the market up to smaller buyers as well.