In recent years, Japanese art has gained increasing attention in the global market. Collectors and investors are rediscovering the value of works by traditional and contemporary masters, contributing to significant growth in the sector.
From the ukiyo-e prints to the works of modern neo-pop artists, the Japanese art market is experiencing a dynamic evolution.
According to the report The Japanese Art Market 2024, written by Clare McAndrew, founder of Arts Economics, the market grew by 11% between 2019 and 2023, reaching an estimated figure of 681 million dollars, compared to a 1% growth worldwide in the same period.
The value of Japanese art in the global market
The Japanese art market is distinguished by a strong international demand, particularly from the United States, Europe, and China. In 2023, the total value of Japanese art sales in international auctions exceeded 1.2 billion dollars, marking an increase of 15% compared to the previous year.
The works of historical artists like Katsushika Hokusai and Utagawa Hiroshige continue to be sold at high prices in the main auction houses.
Katsushika Hokusai has risen in 2023/2024, according to Art Price data, with a turnover of 7.1 million euros in 2024, especially in the USA market for prints.
Growth of the value of the opere
In recent decades, some works of Japanese art have experienced a significant appreciation. For example:
- “La grande onda di Kanagawa” by Hokusai has seen an increase in value of about 250% over the last 20 years, with original editions selling for between 300,000 and 1.5 million dollars.
- Japanese ceramics and sculptures, especially those related to the tea tradition, have seen an increase in demand in Western markets, with rare pieces selling for up to 500,000 dollars.
- Contemporary artists like Yayoi Kusama and Takashi Murakami have reached multimillion-dollar valuations: in 2022, a work by Kusama was sold for 8 million dollars and a painting by Murakami reached 10 million dollars.
The key sectors of Japanese art
The Japanese art is divided into different sectors that cater to specific market niches:
Ukiyo-e and traditional art
The ukiyo-e prints, which depict landscapes, geishas, and scenes of daily life from the Edo period, are among the most appreciated by collectors. Rare and well-preserved editions can reach considerable values, with some works sold for over 500,000 dollars at international auctions.
Contemporary art and neo-pop
Artists like Yayoi Kusama, Takashi Murakami, and Yoshitomo Nara have brought Japanese art to a global audience, thanks to a style that blends traditional elements and influences from pop culture. Kusama’s works have seen an increase in average value of 30% over the last five years.
Kusama (1929) is another artist that is impossible not to mention when talking about Japanese contemporary art. Her works have been auctioned 12,278 times, mainly in the Print-Multiple category with a record set in 2022, a year that then culminated with the collaboration at the beginning of 2023 with Louis Vuitton.
Calligraphy and ceramics
Japanese calligraphy is an art form appreciated not only in Asia, but also in Europe and the United States.
Ceramics, especially those related to the tradition of the tea ceremony, are also considered valuable investments, with some pieces by famous masters reaching prices between 50,000 and 300,000 dollars.
The role of auction houses and galleries
The main auction houses, such as Sotheby’s, Christie’s, and Bonhams, have recorded a growth in the sales of Japanese art pieces.
In 2023, Sotheby’s reported an increase of 20% in sales of Japanese art, with a total of 350 million dollars.
Even the galleries specialized in Japan and abroad play a fundamental role in the promotion of emerging artists and in the increase of the value of traditional works.
The growth of Japanese art
The Japanese art market offers interesting opportunities for collectors and investors, with a balance between tradition and innovation. With the increase in demand and the consolidation of new trends, the value of Japanese art is destined to grow in the coming years.
With an average annual growth of 10-15%, this sector is confirmed as one of the most promising investments in the international artistic landscape.
As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist and Econique.
She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.
