Art fairs are a highly centralized platform for a region to showcase local galleries and establish its reputation as a significant sales channel for the art business. 88% of the Beijing galleries participating in the 2021 report have participated in art fairs, an increase of 6% year-on-year.

1. Number of Beijing Galleries Participated in Art Fairs

• 12% of galleries did not participate in any overseas art fairs in 2021, a 6% decrease year-on-year
•  64% of galleries have participated in 1 to 5 art fairs in 2021, an increase of 20% year-on-year
• 22% of galleries have participated in 6 to 10 art fairs in 2021, a decrease of 6% year-on-year
• 2% of galleries have participated in more than 10 art fairs in 2021, a decrease of 8% year-on-year

Note: Most of the Beijing galleries that attended air fairs in 2021 have participated in around 1 to 5 art fairs, an increase of 20% in comparison to 2020, while the number of those who have participated in 6 to 10 fairs and more than 10 fairs have decreased in comparison to 2020. Some of the galleries are paying more attention to the qualities of the art fairs, choosing and attending fairs that are more in line with their positioning and client base. 

Tang Contemporary Art attended the most art fairs in 2021, participating in 14 art fairs. In addition, Hive Center for Contemporary Art, Triumph Gallery, Asia Art Center, and ShanghART Gallery Beijing were active, participating in more than 6 art fairs throughout the year. 

2. Number of Overseas Art Fairs Attended by Beijing Galleries

• 68% of galleries did not participate in any overseas art fairs in 2021
• 28% of galleries have participated in 1 to 3 overseas art fairs in 2021
•  4% of galleries have participated in 4 to 6 overseas art fairs in 2021

Note: While the global pandemic in 2021 has presented an unprecedented challenge to travel, some galleries still tried their best to overcome this situation and made an effort to participate in overseas art fairs, striving for more international exposure and possibilities for their represented works. Of the Beijing galleries participating in the 2021 survey, 32% have participated in overseas art fairs.

Internationally renowned fairs are the first choice for Beijing galleries, with Art Basel being the most popular choice, followed by other fairs such as Frieze New York 2021, Frieze London 2021, and The Armory Show in New York. 

3. Number of Artworks Sold by Beijing Galleries During Art Fairs

•  51% of the galleries sold less than 20 works (exclusive).
• 34% of galleries sold 20-50 works (exclusive).
• 13% of galleries sold 50-150 works (exclusive).
• Galleries with more than 150 works sold accounted for 2%, like Hive Center for Contemporary Art. 

Note: In terms of the correlation between the number of sales participating in art fairs and the total annual sales of galleries, galleries that sold 50-150 works in art fairs or those that sold more than 150 works all had a total revenue of over CNY  5 million.

4. Total Expenses of Beijing galleries Participating in Art Fairs

• 64% of galleries spent less than 1 million CNY, down 13% year-on-year
• 36% of galleries with total expenses above 1 million CNY, an increase of 13% year-on-year
• Among them, 32% of galleries spent 1 million to 3 million CNY on art fairs, 
• 4% of galleries spent 3 million to 5 million CNY on art fairs, and not a single gallery spent more than 5 million CNY on art fairs.

Note: The main expenses for galleries participating in art fairs include booth fees, work logistics, insurance, and travel expenses for staff. The increase in costs for galleries in Beijing in 2021 compared to 2020 also reflects the increasing importance that galleries place on art fairs and introduce their represented artists to more people through the platforms provided by art fairs.

5. Sales Revenue of Beijing galleries Participating in Art Fairs

• 40% of the galleries with sales revenue less than 1 million CNY, up 18% year-on-year.
• 32% of galleries with sales revenue of 1-3 million CNY, down 16% year-on-year.
• 4% of galleries with sales revenue of 3-5 million CNY, down 6% year-on-year.
• 24% of galleries with sales revenue of over 5 million CNY, up 4% year-on-year.

NOTE：The report reveals a disparity between Beijing gallery sales revenues at art fairs. The Beijing galleries participating in the survey can be categorized into four revenue ranges as above. Galleries with an income of less than 1 million CNY and galleries with more than 5 million CNY increased as compared with 2020, while those in the middle, with a revenue of 1 million to 3 million CNY, and 3 million to 5 million CNY, decreased as compared with 2020.

 Art fairs are becoming an increasingly important sales channel for galleries, accounting for a significant share of annual sales. In terms of the correlation between sales revenue from participation in art fairs and total sales, 77% of galleries with annual sales of 10 million CNY or more have an art fair sales revenue of 5 million CNY or more; 71% of galleries with annual sales of 5-10 million CNY have an art fair sales revenue of 1 million to 3 million CNY.