The Korean art auction market experienced a sharp decline in the first quarter of 2023. From January to March, the total sales amount at Seoul Auction and K Auction, Korea’s two largest auction houses, decreased by 58% compared to 2022.
The Korea Art Authentication & Appraisal Inc. (KAAAI) published the Art Market Report for the 1st Quarter of 2023 on April 20 and predicted that the Korean art market would be bleak. While most art fields performed poorly in the first quarter of this year, the antique sector was the only one that fared slightly better in the Korean art market.
Anna Melnykova, "Palace of Labor (palats praci), architector I. Pretro, 1916", shot with analog Canon camera, 35 mm Fuji film in March 2022.
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