In 2024, the Swiss art market experienced extraordinary growth, standing out in the global landscape with an 80% increase compared to the previous year.
With a total revenue of 221.6 million dollars, Switzerland ranked sixth in the global art auction ranking, surpassing Italy and approaching Germany.
Artprice has published a very detailed report on the art market in 2024, specifically discussing the numbers of Switzerland.
The Kornfeld effect: Bern at the center of the Swiss market
A large part of the Swiss success was driven by the sale of works belonging to Eberhard W. Kornfeld, a historic art dealer and collector. He is known for his collaboration with artists like Pablo Picasso and Marc Chagall.
The Galerie Kornfeld in Bern has achieved some of the most significant sales of the year, with works by great masters such as Edgar Degas, Camille Pissarro, Henri Matisse, Georges Seurat, and Alberto Giacometti.
Berna has established itself as the capital of the Swiss art market, accounting for 57% of the national turnover. The auctions held in the city have attracted a growing number of international collectors, confirming Switzerland as an increasingly influential bull in the European market.
Zurich and the million-dollar auctions: Hodler and Giacometti at the top
If Bern led the market with the Kornfeld collection, Zurich hosted some of the most significant sales of the year. The auction house Koller recorded the highest price of the year in Switzerland with the sale of a painting by Ferdinand Hodler for 7.26 million dollars.
This result has consolidated Hodler as one of the most sought-after Swiss artists in the market.
Even Alberto Giacometti dominated the Swiss auctions, with three works that exceeded the threshold of 5 million dollars:
- Stèle III sold for 8.18 million dollars;
- L’Atelier sold for 6.37 million;
- Femme assise [Aika] purchased for 5.72 million.
These results have confirmed the attractiveness of the works of historical Swiss artists, with strong interest from Asian and North American collectors.
The emerging markets: Basilea and Ginevra
Beyond the established poles of Bern and Zurich, other Swiss cities are gaining ground in the art market. In 2024, Basel accounted for 6% of the national turnover, while Geneva contributed with 5%.
These two cities are establishing themselves as hubs for contemporary art and Asian art auctions, attracting collectors and investors from all over the world.
A Swiss art market in expansion: numbers and perspectives
With 2.2% of the global art market, Switzerland confirms itself as one of the most dynamic nations in the auction sector. The growth of the Swiss market has been driven by several factors:
- The increase in medium-high range art transactions, with a 45% rise in sales between 500,000 and 5 million dollars;
- The consolidation of Galerie Kornfeld e Koller as a reference auction house at the European level;
- The expansion of the international clientele, with a 30% increase in buyers coming from Asia and the Middle East.
Looking to the future, the Swiss art market seems destined to maintain its growth trajectory, thanks to the strong demand for works by historical masters and the expansion of contemporary art sales.
With Bern and Zurich at the forefront and new emerging markets like Basel and Geneva, Switzerland is confirmed as an increasingly solid point of reference in the global art scene.
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.
