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The Future of Art Collecting: Understanding Gen Z's Impact on the Market As Gen Z Enters the Art Market As Gen Z begins entering the art market with purchasing power, conventional wisdom about this generation's collecting habits often relies on assumptions rather than data. Recent surveys and market analysis reveal a more nuanced picture—one that should concern traditional auction houses while exciting galleries willing to adapt. Gen Z is set to inherit an estimated $84 trill

Beyond the NFT hype cycle that dominated headlines in 2021-2022, blockchain technology is quietly establishing itself as a serious infrastructure for art provenance and authentication. While adoption remains gradual, the technology's real-world applications are expanding among major auction houses, galleries, and collectors seeking verifiable ownership records. In 2018, Christie's New York became the first major auction house to register a sale on blockchain with its $318-mil

Artificial intelligence is quietly transforming how the world's premier auction houses operate, though perhaps not in the dramatic ways headlines might suggest. Rather than replacing human expertise, AI is augmenting traditional connoisseurship in targeted, practical applications that are reshaping authentication, valuation, and buyer engagement. AI systems are analyzing vast databases of historical sales, market trends, and item characteristics to provide accurate pricing re

Courtesy: Art X Lagos 2025 The contemporary art market's center of gravity is shifting. While New York, London, and Paris maintain their traditional dominance, emerging markets in Southeast Asia, Latin America, and Africa are capturing unprecedented global attention, with collectors seeking fresh perspectives and overlooked opportunities. Cities such as Lagos, Dubai, and Seoul are positioning themselves as significant players through robust infrastructure, dynamic local talen

As the art world enters the final quarter of 2025, industry insiders are closely examining how major fall fairs are influencing year-end sales and shaping expectations for 2026. Despite global art sales declining 12% to $57.5 billion in 2024, the market revealed intriguing dynamics beneath the surface, with transaction volumes actually increasing by 3%. This paradox reflects robust activity in lower-priced segments while the high-end market experienced significant thinning, w

New research by Finder reveals that Australians are increasingly avoiding arts and entertainment events due to rising cost of living pressures. The study, which surveyed 1,012 respondents, found that more than half of Australians (53%) have cut back on attending various cultural events, from musicals to movies, in an effort to reduce expenses. The survey results show a significant decline in attendance across multiple entertainment sectors. Cinema visits have seen the most su

The surge in online sales has markedly invigorated the lower echelons of the art market, potentially sounding the death knell for traditional showroom auctions, according to the chief executive of Artprice, a leading market analysis firm, which unveiled its annual report this month. Artprice reported a decline in the number of high-profile auctions in 2023 compared to the preceding year, resulting in an overall turnover reduction of 14%, settling at $14.9 billion. Nevertheles

Introduced in September 2022, the Charities Act authorizes charities, encompassing national museums, to divest themselves of artifacts when faced with a compelling ethical mandate. This was a departure from the constraints imposed by the National Heritage Act 1983, which limited the trustees of prominent UK institutions, such as Tate and the Victoria & Albert Museum, from removing items from their collections unless under specific conditions, for example, if an item is a dupl

A federal jury in New York exonerated Sotheby’s from accusations levied by Russian billionaire Dmitry Rybolovlev on Tuesday. Rybolovlev...

The second iteration of ART SG, Singapore's premier international art fair, successfully dispelled any concerns about its continued...

Dmitry Rybolovlev, a Russian billionaire and fertilizer magnate, testified emotionally in a Manhattan federal court, accusing Sotheby's and Swiss art dealer Yves Bouvier of collaborating to defraud him of tens of millions of dollars. The trial, known as Accent Delight International (ADI) v. Sotheby's, unfolds in the United States District Court for the Southern District of New York. Once valued at a minimum of $7 billion, Rybolovlev expressed his trust in Yves Bouvier, the d

In 2020, only two artworks among the ten most expensive pieces sold at auction surpassed the $50 million mark. The subsequent year,...

The dynamic realm of Non-Fungible Tokens (NFTs) continues to captivate and evolve, overcoming recent challenges to herald an anticipated era of substantial growth. Despite adversities like workforce reductions at OpenSea, projections indicate a robust surge from $1.6 billion in 2023 to a staggering $3.2 billion by 2027. This comprehensive exploration delves into the multifaceted aspects of the current NFT market, shedding light on key indicators, transformative potentials, re

The sale of significant single-owner collections has traditionally been a cornerstone of strategy for major auction houses, prominently including Christie's and Sotheby's, with Phillips also playing a role, though to a lesser extent. These institutions routinely engage in fierce competition, vying for substantial sums that can range from tens of millions to several hundred million dollars, all in an effort to secure valuable consignments from noteworthy living collectors and

The art world, once beleaguered by the challenges posed by the Covid-19 pandemic, is experiencing a renaissance in the realm of art fairs, and this upward trend is poised to persist into the coming year. In the initial throes of the pandemic, the abrupt halt to in-person art fairs prompted reflections within the art community on the financial, health, and environmental sustainability of transporting art and people globally. However, premature predictions of a significant indu

In the wake of the tumultuous journey through the Covid-19 pandemic, the art world now finds itself at a crossroads, grappling with the ramifications of inflation, soaring interest rates, and geopolitical conflicts. As Art Basel Miami Beach reaches its 21st year, where sun, sand, and champagne blend seamlessly with gallery displays, outdoor art installations, and beach parties, beneath the surface lies a narrative of change and recalibration within the global art business. In

The Australian art auction market in 2023 demonstrated resilience amid challenging economic conditions, including inflation, high interest rates, and global conflicts. Despite these challenges, total sales are expected to reach $140 million by the conclusion of the upcoming week, a figure nearly commensurate with the previous year's total of $143.93 million. Notably, the art market experienced an atypical surge in 2022, driven by the sale of works from the collections of Cbus

During the initial half of 2023, the global auction market experienced an 18% decline. However, Southeast Asia emerges as an exception,...

Highlights from the Fifth International Artwork Trade Week The Fifth Shanghai International Artwork Trade Week, held from November 9 to November 13, demonstrated a robust recovery in the city's art market, according to recent data released on Wednesday. The event, comprised of over 100 art fairs and 30 auctions as part of the annual Artwork Trade Week, underscores the municipality's ambition to position Shanghai as a premier global trading hub for art. During this year's iter

Sotheby's navigated a challenging sale; however, resilience persists within the market. In the midst of a conflicted region, Sotheby's conducted its Middle East sale on Tuesday, procuring high prices for select pivotal lots, albeit achieving a mere 54 percent sell-through rate. The extent to which this will assuage the apprehensions of observers within the Middle East art market, anticipating the reverberations of the Israel-Gaza conflict, remains uncertain and is significant