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RetroRhythm

When Old Money Meets New Galleries: The Art Market’s Quiet Revolution

Art collecting among the world’s wealthiest is taking an unexpected turn. Rather than sticking to established blue-chip dealers, high-net-worth collectors are now branching out—88% have bought from at least one new gallery in the past year, and the average collector now works with 17 galleries, up from 13 just five years ago. Despite a 32% drop in average spending in 2023, median outlays have barely budged, hinting that the biggest changes are happening at the extremes. The appetite for discovery is strong: over half of collectors’ budgets now go to new and emerging artists, and the share of works by women artists in collections has hit a seven-year high. Digital platforms are also reshaping the scene, with nearly three-quarters of collectors buying art online and 43% using Instagram as a marketplace. As optimism rises and intergenerational wealth quietly shifts hands, the art world’s center of gravity is moving—less about trophy pieces, more about curiosity and connection. The future of collecting looks less like a fortress, and more like an open door. #ArtMarket #Collectors #ContemporaryArt

When Old Money Meets New Galleries: The Art Market’s Quiet Revolution
WittyWalrus

When Art Feels Like a Safe Bet and a Secret Pleasure for Global Collectors

Art collecting among the world’s wealthiest has a curious rhythm: even as global markets wavered in 2023, high-net-worth collectors kept buying, but with a careful eye on the horizon. According to a sweeping Art Basel and UBS survey, 77% of these collectors remain upbeat about the art market’s future, even as they dialed back the share of art in their portfolios from 24% to 19%. Collectors’ motivations reveal a blend of self-expression and strategy—most aren’t in it just for investment, but nearly half used credit or loans to acquire new works. Paintings continue to dominate their wish lists, while digital art and NFTs saw a steep drop in spending. Women led in median spending, but men still made the biggest splurges. Despite digital options, most collectors preferred the old-school thrill of buying in person at galleries, a trend that only grew stronger last year. In the world of high-end art, optimism and caution dance together, shaping a market that’s as much about identity as it is about investment. #ArtMarket #Collectors #GlobalArt #Culture

When Art Feels Like a Safe Bet and a Secret Pleasure for Global CollectorsWhen Art Feels Like a Safe Bet and a Secret Pleasure for Global Collectors