The Power of 3: Matthew Lord Names the Artists Set to Dominate Art Investment

Understand the latest art market trends?with Matthew Lord, Senior Sales Director of Maddox Gallery. From a visionary pop artist to a titan of the contemporary art scene, Matthew takes a look at 3 key trending artists?to watch in 2024 and provides expert insight into why you should add their art to your investment portfolio.

I am often called upon to offer my advice on which artists to invest in, based on my experience of art market trends as Senior Sales Director of Maddox Gallery. So when I was asked to give my opinion on which artists will dominate the art investment landscape in 2024, I jumped at the chance. As you will discover, I have chosen three world-renowned artists whose marketplaces, I believe, are primed for growth during the year ahead.?

Whether you are completely new to collecting or a seasoned art investor, one key strategy I always recommend is to seek out those artists whose reputations and markets are reliable and stable, and set to rise in the near future. In this respect, all three of my chosen artists fit the bill perfectly.

Artist?#1:?David Hockney

David Hockney may be approaching his 87th birthday, but there are no signs that he is slowing down. The British artist has been?enjoying one of the most productive periods of his life, which?is great news for collectors.?

With a career spanning?more than six decades, Hockney has seamlessly transitioned between mediums, embracing painting, drawing, printmaking and, most recently, digital art. In 2020, he began drawing on his iPad every day, documenting poplar and fruit trees as their first blossoms appeared. It is the limited-edition prints of these iPad drawings that offer the most accessible gateway into Hockney’s marketplace.

The 10th?best-selling artist in the world in 2023, Hockney’s price index has doubled in the last 10 years, and quadrupled since 2000. With five major exhibitions planned for 2024, on the back of a packed calendar of shows last year, his ongoing artistic significance in the art investment landscape is indisputable. Looking ahead, however,?the supply of his works will inevitably decrease,?which is why I am earmarking Hockney as one of 2024’s trending artists and an essential addition to any investment portfolio.

Artist #2: Jean-Michel Basquiat

Investing in Basquiat editions has proven to be highly profitable in recent years, with significant increases in auction sales volume and prices. Jean-Michel Basquiat's meteoric rise to fame, despite his tragically short life, has cemented his status as a seminal figure in contemporary art. With screenprints selling at a remarkable 91.6% sell-through rate over the past 36 months, and a staggering 137% increase in auction volume since 2018, the demand for Basquiat's work is evident. The scarcity of works from his lifetime, combined with their high auction prices, has generated substantial interest in his posthumous works. For instance, "Flexible," released in 2016, initially sold for $40,000 but has fetched prices as high as $281,742—a remarkable 604.3% increase. Basquiat's growth drivers, including celebrity endorsement, market scarcity, and the timeless themes in his art, ensure continued demand and appreciation for his prints, making them an attractive investment opportunity for collectors worldwide.

Artist #3: Keith Haring

Investing in Keith Haring prints proves to be a lucrative venture, with his vibrant artworks embodying accessibility and social relevance. Haring's multiples and posters constitute 59% of sales volume since 2000, reflecting their coveted status among collectors. With a sell-through rate of 85.9% over the past 36 months, according to Artsy, the demand for his prints remains consistently high. Haring's ethos of making art inclusive is evident through initiatives like the Pop Shop, whose collection continues to resonate, addressing enduring social issues such as HIV awareness and drug abuse. With Haring's works featured in over 50 prestigious museum collections worldwide, investing in his screenprints not only promises financial returns but also aligns with supporting enduring messages of societal importance.

Matthew Lord is Senior Sales Director of Maddox Advisory

Whether you want to start your art journey, or you're a seasoned collector, the Maddox Team are on hand to help you with whatever your art needs are. Please explore our New Arrivals here or explore our Current Exhibitions page here.