NEXO UAE’s Post

The third quarter is usually a quieter period in the art market calendar - a lull before the storm of the big art fairs and important auctions in London and New York that will define the year’s result. Explore our Q3 2024 Art Market Review, featuring in-depth auction analytics for the blue-chip contemporary paintings segment, along with an outlook of the upcoming art fairs and auctions in Q4. #arteducation #artinvestment #artinvesting #diversification

In a year marked by uncertainty and heightened volatility across the broader art market, the blue-chip contemporary paintings segment has once again proven to be a pillar of stability so far. This segment continues to deliver strong performance, exceeding historical sell-through rates and standing out as a solid investment amidst market fluctuations. #diversification #artinvesting #artinvestment #bluechipart

The current dynamics of the art market are quite interesting. Sellers are hesitant to bring the highest-quality works to auction for fear of disappointing bidding results. This has reduced the volume and quality of paintings available at public auctions. Conversely, more high-quality works are being transacted in the private markets, where sellers benefit from greater discretion. While liquidity in the top segment of the art market has decreased due to the gap in expectations between buyers and sellers, there is no doubt that quality paintings by truly blue-chip artists remain in high demand, often commanding high prices. Please send me a DM if you are interested in receiving our proprietary auction analytics for the blue-chip contemporary paintings market for H1 2024. #diversification #artinvesting #artinvestment #bluechipart

The art market’s first half of 2024 was characterized by rather risk-averse behavior among both buyers and sellers, resulting in fewer transactions due to a mismatch in expectations. Consequently, the market for top-quality blue-chip art continues to outperform all other segments, while demand from speculative buyers has significantly declined. Read our brief H1 2024 art market report for a comprehensive review of public auctions and art fairs. #arteducation #artinvestment #artinvesting #bluechipart

📌 DOES THE SIZE OF THE ARTWORK INFLUENCE THE FINAL PRICE? Absolutely. However, there is often a misconception that the larger the size, the higher the value of the work. But one has to distinguish the type of buyer: - If it is a museum institution, large size might not be a problem.  -if it is a private collector, it is essential to take into account the space available to exhibit the work. The balance between the size of the artwork and the needs of the buyer is essential to ensure a choice that is both aesthetically and functionally satisfying. Do you prefer large or small works? #artmarket #artadvisor #artinvestment

New Post: Advice From Art Market Economist Magnus Resch - The art market has been grappling with a shortage of new buyers for an extended period. Despite the global number of millionaires doubling in the last decade and a surge in attendance at art events, the value of the art market has remained stable. This disparity underscores a conversion problem, as the newly affluent are not seamlessly transitioning into art buyers. I believe a combination of education, entertainment and transparency can play a pivotal role in converting more art enthusiasts into active buyers. My new book is a contribution towards this goal, and I've observed similar initiatives emerging from galleries, museums and auction houses. An increase in the number of buyers is crucial for supporting the endeavors of artists, gallerists, advisors, and museums in the art world. #Advice #Art #Market #Economist #Magnus #Resch https://lnkd.in/dHGC74Jb

If you're an art collector, chances are you've been to one of the world's prestigious art fairs, such as Art Basel, Frieze, or Art Miami. They represent the dynamic and ever-evolving landscape of the art world while serving as a place for vital cultural exchange. However, the latest statistics show that high-net-worth collectors are attending the fairs in fewer numbers, making it harder for the businesses to be profitable. 🖼 "Why galleries can’t quit fairs despite higher costs and lower returns." >>> https://bit.ly/48K0AJk <<< To encourage collectors to attend, fair organizers are ramping up offerings to include more immersive activities and heightened experiences and offering more one-of-a-kind moments with leading figures in the art world. #artfair #art #artcollector #artcollecting #artinvestment #artinvestors #wealthmanagement #investmentstrategy

With Greater China being the second most important art market, accounting for 19% of global fine art sales, it is no surprise that all eyes were on Hong Kong for the Art Basel Hong Kong fair, the most important Asian art fair of the year. While the mood is certainly not as ecstatic as several years ago due to current economic issues in Mainland China, many of the largest international galleries and auction houses keep expanding in Hong Kong which is a testament to the growing, long-term importance of Asia in general and China in particular to the global art market. #diversification #artinvesting #artinvestment #alternativeassets

The Art Basel and UBS Global Art Market Report 2024, authored by cultural economist Dr. Clare McAndrew, is now available. This comprehensive report delves into the sales and various activities across different segments of the market, including galleries, auction houses, and art fairs. Key Findings: - The global art market showed resilience with sales reaching USD 65 billion, a slight 4% slowdown year-on-year, yet surpassing pre-pandemic levels. Growth in buyer activity was particularly pronounced at lower price levels. - The US maintained its leading position in the global art market, accounting for 42% of sales, while China emerged as the second-largest market with a 19% share. - Global online sales have increased by 7% year-on-year, reaching an estimated USD 11.8 billion, with the most significant growth driven by dealers’ own online channels and websites. - The fine art auction market saw a substantial decrease in the USD 10 million-plus segment, with growth in mid and lower-priced segments. #artcollecting #artexhibition #artmuseum #artinvesting #artinvestment #artcollector #artnews #artworld #artmarket #artmarketnews #artauction #artgallery #artfair #arthistory #artworld #fair #worldrecord #modernart #impressionism #postwar #contemporaryart #artbasel #marketreport #ubs