TurningArt的动态

Why It Matters

When there’s blood in the street, it’s time to buy. This Wall Street mantra applies as the art market navigates economic and geopolitical challenges. The recent slowdown, influenced by the 2022 crypto downturn and broader economic instability, presents a unique opportunity for savvy, long-term collectors. The Current Market Over the past two years, the primary and secondary art markets have contracted. Artnet News reported a 27% decline in global auction sales and a 32% drop in average prices in 2023—the largest single-year decrease in over seven years. This was compounded by reduced speculative buying from crypto and NFT investors post-2022. Ultra-contemporary art sales also fell 26% year over year. The Art Market Spring Update highlighted a dip in high-value transactions, impacting both established and emerging artists. These trends have led to more available inventory as galleries liquidate to survive. This period is an example of market entrants failing to understand underlying drivers. Now is the time to take advantage of these miscalculations. Why Now Is the Time to Buy Art investments are long-term. Despite current challenges, geopolitical unrest and limited work will shrink supply. As economies rebound, demand for quality art will rise. Art from closing galleries often includes pieces by artists with backing from multiple institutions, preserving their value. Collectors can benefit from acquiring such validated works with strong long-term potential. Take Advantage Closing Galleries: Stay informed on which galleries are scaling down to secure favorable prices. Prioritize Backed Artists: Choose artists supported by multiple galleries, ensuring resilience even after closures. Negotiate Smartly: Liquidating galleries may offer discounts. Build relationships while negotiating good deals. Join Private Sales: Attend private sales or low-profile auctions for high-quality works without heavy competition. Role of Art Advisors Catalin Lutu advises focusing on the secondary market with a specific strategy. Engaging skilled advisors helps navigate opportunities, aligning acquisitions with long-term goals, and identifying promising art investments. Long-Term Considerations: Collectors should embrace a strategic mindset. Not all is bleak—take Maurizio Cattelan’s “Banana on a Wall”. If it sells for its low estimate of $1 million this November at Sotheby’s, it would mark a 700% gain over five years. Successful collecting requires research and patience, especially for those choosing to forgo advisors. The current climate rewards buyers who secure quality pieces at favorable prices and hold them as the market recovers. Conclusion: Strategic collectors can use this period to acquire valuable, well-supported artworks at compelling prices. Catalin Lutu - Art Advisor: Precision, Strategy, Profit. Sources: https://lnkd.in/e8KrCmH9 https://lnkd.in/ebc-495z

For those visiting Basel, here is the designboom guide of the highlights which also features ArtMeta - The Digital At Mile. https://lnkd.in/eEAf_cfu

The last report from the New York Art week, and few considerations on the state of the US Market. My article on Observer #artadvisory #artfairs #artmarket https://lnkd.in/etDK2z7s

Pricing your art and maintaining consistent relationships with galleries can be challenging. It’s crucial to find a balance that respects your work’s value while accommodating gallery preferences. One common situation...

The art market is notoriously convoluted and opaque. Large sums of money change hands behind closed doors, artworks enter collections before being seen publicly, often disappearing from view altogether as they enter the cultural purgatory of freeport storage. Staggering auction results can be both exciting and intimidating, implying a right and wrong way to collect art. There is no comprehensive public database to self-educate, and galleries are reluctant to offer works to newcomers. In many ways, these issues are fundamental to the exclusivity the industry thrives on. However, in recent years, there has been a push for a more accessible art market, and new tools, groups and methods of buying are helping collectors to navigate the murky waters and changing the way people acquire art today.

Is this what a more collaborative, community-centered art market could look like? The initiative from galleries Bortolami Gallery, James Cohan Gallery, kaufmann repetto, Anton Kern Gallery, Andrew Kreps Gallery, and kurimanzutto aims to create a shared space for group exhibitions and cultural activities, with the inaugural exhibition to feature works by 80 artists. The way we see it, the?joint venture signals a welcome shift towards collaboration and community-building within the art market. The initiative not only breathes new life into a neglected space but also fosters a sense of creative and professional synergy among participating galleries, their staffs, and artists.?More of that, please. But, we can't pretend it's all sunshine and rainbows. Amid an art, design, and vacation home boom in the Hudson area, we're curious what steps the galleries might take to ensure the community benefits too, considering the "The Campus'" potential impact on the area's cultural and economic landscape. What do you think?

What’s going on in the contemporary art market?

NEW REPORT: Contemporary art market confidence is slowly creeping back After the ArtTactic Confidence Indicator reached a low point in July 2023, our latest reading in January 2024 came in at 38, which could signal that confidence is creeping back into the art market at the beginning of this year, although the negative market sentiment continue to outweigh positive voices in the market. After the global Contemporary art auction market declined in 2023, on the back of increasing economic and geo-political uncertainty, it looks like experts surveyed by ArtTactic are starting to feel that the worst might be over and that a bottom has been reached. See Report: https://lnkd.in/esT-c-Xj #art #artmarket #outlook2024 #confidence #contemporaryart #contemporaryartist

The Power of Artistic Collaboration In today’s creative world, collaboration between artists is more important than ever. When artists from different disciplines and backgrounds come together, it sparks fresh ideas and leads to new and unexpected projects. Whether it’s through shared exhibitions, co-hosted workshops, or collaborative artworks, working as a group offers the chance to learn from each other and explore new perspectives. Collaboration not only strengthens individual practice but builds a stronger creative community. It fosters networks of support, creates opportunities for future projects, and encourages experimentation beyond one’s usual style or medium. The energy that comes from collaboration can help artists break through creative blocks, build new audiences, and take on larger, more ambitious works. In Hayle, we see an opportunity for artists to come together, not just for a single event, but as a means of exploring long-term creative partnerships. By forming these connections now, we can create a lasting impact that benefits everyone in the local arts community, opening up new avenues for collective growth and success. For those interested in being part of this movement, Reflections of Hayle: Telling Our Yarns is an arts event in October that aims to be a springboard for future collaborations. You can book workshops and tickets for David Mynne's performance of Dracula at https://lnkd.in/eSPhkPwD and/or just come along for a conversation about future collaborations. #CollaborationInArt #CreativeCommunity #HayleArts #ArtisticGrowth #TellingOurYarns