China Association of Auctioneers: The total hammer price of national cultural relics and art auctions in 2024 reached 18.354 billion RMB. The market has entered a period of deep adjustment.

Recently, the Chinese Auction Industry Association released the "2024 Annual Report on the Auction of Cultural Relics and Artworks," presenting a comprehensive overview of the auction situation for cultural relics and artworks in China in 2024. The annual report shows that in 2024, the total hammer price of cultural relics and artworks auctioned nationwide was 18.354 billion yuan, a decrease of 35.38% year-on-year. The total number of auction transactions for the year was 307,100, a decrease of 10.35% from the previous year. The cultural relics and artworks auction market has entered a period of deep adjustment. By May 2025, settlements totaling 10.008 billion yuan had been completed, with online auctions accounting for 9.27% of the market share. In 2024, a total of 385,100 items were auctioned online, with 144,000 items sold. Pure online auctions have become more standardized. The proportion of items sold for less than 100,000 yuan increased by 0.5 percentage points to 90.28%. The average price per item decreased from 82,900 yuan in the previous year to 59,800 yuan. There were noticeable structural adjustments in various categories. The annual report shows that in 2024, the hammer price for philately, coins, oil paintings, and contemporary art dropped by over 50%; ceramic, jade, and miscellaneous items remained strong, as the only growth sector with a 1.10% increase from the previous year. The market share of Chinese calligraphy and painting shrank by 9.02 percentage points from the previous year, while the proportion of ceramics, jade, and miscellaneous items increased by 14.08 percentage points.