While the pandemic has had wide-ranging consequences for many areas of our lives, one unexpected silver lining is that more people are starting to see the benefit of art as a viable form of alternative investment.
National galleries exist to serve their audience with the most quality and educational showings of historical works and subjects as well as the current state of their nations’ artistic scene. As publicly funded institutions, providing visitors with appropriate and societally meaningful discourse surrounding their works should be the cornerstones of their missions. But does serving the public with the most popularly regarded, biggest name shows fulfill this goal?
This article explores the dynamic world of the contemporary art market under the influence of the new generation of art buyers. The new art buyers, popularly called ‘Next Gen’ collectors, are continuously reshaping and restructuring the established format of the traditional art marke.
We may all have been anticipating that, after months of Covid disruption in 2020, things would surely get back to normal in 2021… but no such luck. The pandemic continued to cause upheaval in global markets last year, and art was no exception. Travel restrictions had major consequences, such as the reshuffling of the fair calendar, the transformation of auctions and the continued refinement of galleries’ digital offerings.