Over the forecast period of 2022–2030, it is expected that the size of the world luxury goods auctions market would increase exponentially.
Luxury goods are high-end items that are expertly made, highly sought-after, and produced in small numbers. The luxury goods market includes products like jewelry and watches, cars, clothing and accessories apparel, cosmetics, wines and spirits, etc. The bidding on valuable items like watches, cars, and other rare, expensive, and vintage things at an auction allows you to save a significant amount of money compared to buying them outright. Because of this, more and more people around the world are becoming open-minded and prepared to bid on and collect luxury items.

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GROWTH DRIVERS
Factors like the booming trend of luxury auctions, the proliferating demand and sale of rare watches and exotic cars at auctions, the growing tendency of the wealthy class to bid on expensive items to demonstrate social status, the rising number of auction houses dealing in luxury goods around the world coupled with the escalating accessibility of bidding at auction houses, the rising number of extremely wealthy people around the world, and the sui generis nature of the sui generis market
Furthermore, more young, wealthy Chinese bidders than everywhere else in the world have been interested in purchasing luxury items at auction in recent years, with a growth rate of 300.0%. Similar to this, in the past year alone, the number of online luxury sales to Chinese consumers increased by almost 12.0 times. The industry is anticipated to expand significantly between 2022 and 2030 due to the most prominent Chinese luxury consumers developing the habit of bidding and sharing their experience with their large social media followings.
Additionally, a growing number of initiatives by renowned auction houses, both offline and online, such as Sotheby's Buy Now, which offers fixed-priced items, Christie's "luxury week" sales, which take place both online and offline, and Worthy.com's launch of a distinct, secure, and unbiased online marketplace for the sale of authenticated pre-owned luxury goods, which guarantees multiple bids and the best spot market prices, are also contributing quickly to the market.

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LUXURY GOODS AUCTION MARKET SEGMENTATION
By Product
• Collectibles
• Handbags & Accessories
• Watches
• High-end Furniture
• Shoes
• Electronics
• Cars
• Bikes
• Artistic goods
• Jewelry
• Gemstones And Precious Metals
• Wines and Spirits
• Others


By Mode
• At-house
• Online
• Web-Based
• Application-Based

By End-User
• Individual
• Corporate
• Faith-based Organizations
• Sports Organization
• School & Universities
• Associations
• Others

By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

KEY COMPANIES IN LUXURY GOODS AUCTION MARKET
• Tateward
• 1stDibs
• Worthy
• Ebay
• Christie’s
• Sotheby’s
• Bonham’s
• Phillips
• China Guardian
• Chiswick Auctions
• Fellow’s
• Wondike
• Other Players

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