#art-market-trends

#art-market-trends

Last July, ADAA's Art Show coined the term when it announced it would take a year off to 'reimagine' the New York fair. Days later, Taipei Dangdai, an art fair in Taiwan, said it too would take a beat to examine 'the model, timing, scale, and format' of future events. In December, an unprecedented number of galleries sat on sidelines instead of taking a booth at Art Basel Miami Beach.

If you're looking for art advice, consider asking your bank. Rebekah Bowling, an art advisor at Citi, helps ultra-high-net-worth clients in Citi Wealth manage and build their art collections and knows how hard it can be to make sense of the market. Bank of America, Morgan Stanley, and UBS are among the other banks offering art advice to wealthy clients.

The aim is simple: to establish who is buying what, where, from whom and for how much, so we might get a glimpse into where the market might be headed. Much of the market for "blue chip" art today is built upon the tastes of Boomer and Silent Generation collectors, largely male. But analysing the tastes and behaviours of Millennial and Gen Z buyers helps auction houses, galleries and fairs to predict what the next generation of collectors will want to buy.

During the Zurich Art Weekend, a dehydrated dove fell from the sky, and after being nursed back to health, it felt like an omen for Basel week.