UK to Standardise Auction Data Amid Sector Push for New Trade Body

The United Kingdom is preparing to implement a standardised approach to recording auction sales of artworks and antiques. This initiative aims to provide clearer data and statistical evidence on the auction sector’s output, helping the government better understand the economic impact of the UK’s art market. The new system will be formalised through the Standard Industrial Classification (SIC) code UK SIC 47.921, which covers retail auctioneering activities related to art, antiques, and antiquities.

Although the SIC code is expected to come into effect around 2031, it marks a significant step toward recognising the sector’s contribution beyond short-term political cycles. The move reflects a broader effort within the art community to enhance visibility and data transparency for the auction market.

Alongside this development, industry leaders and stakeholders gathered in a panel discussion moderated by The Art Newspaper’s art market editor-at-large. The conversation highlighted a strong sector-wide desire to establish a new trade body for the visual arts. This proposed organisation would unite representatives from both commercial and public sectors, aiming to amplify the collective voice of the industry rather than replace existing trade associations.

Panelists emphasised the fragmented nature of the current ecosystem, which includes independent artists, commercial galleries, public institutions, and auction houses. They argued that a unified body could better communicate the sector’s interests to government officials and foster collaboration across different parts of the visual arts community.

The discussion also touched on the need for a high-profile public figure or ambassador to champion the visual arts, drawing parallels to similar roles in music and sports. Additionally, speakers addressed challenges faced by artists and organisations, such as developing sustainable business models, exploring new philanthropic approaches, and leveraging advances in artificial intelligence to improve efficiency and security amid rising costs and shrinking funding.

The panel concluded with a call to action, encouraging those interested in supporting the initiative to engage with the Campaign for Visual Arts Network (CVAN). This collective effort reflects a growing momentum within the UK’s art sector to strengthen its infrastructure and advocacy through better data and unified representation.