UK to Standardise Auction Data as Sector Unites Behind New Trade Body

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

The announcement came during a panel discussion moderated by Melanie Gerlis, art market editor-at-large at The Art Newspaper. Participants included key figures from the art market and cultural policy sectors, such as Paul Hewitt, director general of the Society of London Art Dealers, Alison Cole, director of The Cultural Policy Unit, and Tom Kiehl, chief executive of Music Limited.

Central to the discussion was the proposal to create a new association or trade body for the visual arts. This organisation would unite representatives from both commercial and public sectors, aiming to amplify the collective voice of the industry rather than replace existing trade groups. The need for a unified approach has become more pressing since the pandemic, as the sector remains fragmented across artists, galleries, public institutions, and auction houses.

The new SIC code is expected to come into effect around 2031, marking a significant step toward recognising the sector’s economic contribution beyond short-term political cycles. Panelists emphasised the importance of communicating as a cohesive ecosystem to government officials, highlighting the limited opportunities to present the arts’ collective interests effectively.

Additionally, the discussion touched on the broader challenges facing the visual arts, including the need for sustainable business models for artists, innovative philanthropy, and the potential for artificial intelligence to improve operational efficiency and security amid rising costs and shrinking funding.

The panel served as a call to action, encouraging stakeholders to engage with the initiative and support the formation of the new trade body. Interested parties were invited to contact the Contemporary Visual Arts Network (CVAN) to get involved in shaping the sector’s future.