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

The UK government is preparing to implement a standardised method for recording auction sales of artworks 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 art, antiques, and antiquities.

This development was discussed during a panel moderated by Melanie Gerlis, art market editor-at-large at The Art Newspaper. The panel included key figures such as Paul Hewitt, director general at the Society of London Art Dealers; Alison Cole, director of The Cultural Policy Unit and editor-at-large at The Art Newspaper; and Tom Kiehl, chief executive of Music Limited. Central to their discussion was the proposal to create a new association for the visual arts sector, intended to unite representatives from both commercial and public spheres.

Speakers highlighted the fragmented nature of the current arts ecosystem, with artists, galleries, public institutions, and auction houses operating independently. The new trade body would not replace existing organisations but rather amplify the sector’s collective voice and impact. Alison Cole emphasised the importance of communicating as a unified ecosystem to effectively engage with government officials and advocate for the arts.

The new SIC code is expected to come into effect around 2031, marking a significant step in recognising the sector’s economic contribution beyond short-term political cycles. The panel also noted the need for a high-profile public figure or ambassador to champion the visual arts, drawing parallels with similar roles in music and sports industries.

Beyond data standardisation and organisational reform, the discussion touched on broader challenges facing the sector. These include supporting artists in developing sustainable business models, exploring new philanthropic approaches, and leveraging advances in artificial intelligence to improve efficiency and security amid rising costs and shrinking budgets.

Paul Hewitt described the panel as a call to action, encouraging stakeholders to get involved and contribute to shaping the future of the UK’s visual arts sector. Interested parties were invited to contact the Campaign for Visual Arts Network (CVAN) to participate in this collective effort.