Slowdown, slump, shakedown, stagnation. Call it what you will, the international art market is going through what many people in the industry feel is a consequential, perhaps seismic moment. For their May sales in New York, Sotheby’s, Christie’s and Phillips raised a combined total of $1.27bn from their marquee auctions of Modern and contemporary art,
The art trade has a knotty relationship with investment funds. Although the $57.5bn art industry has arguably been built on the premise that art is a good investment, the bare-faced profit pledges of funds make traditionalists squirm. Art funds famously boomed in the early 2000s, when the rise of the contemporary art market seemed inexorable.
The art world has been on a bumpy ride through the pandemic. Government-enforced lockdowns have had a profound, material impact on the industry; the lifeblood of the arts are in-person events, both exhibitions and art fairs, and the suspension of these led to severe losses, with little government provision to protect the hardest hit freelancers that make
Slowdown, slump, shakedown, stagnation. Call it what you will, the international art market is going through what many people in the industry feel is a consequential, perhaps seismic moment. For their May sales in New York, Sotheby’s, Christie’s and Phillips raised a combined total of $1.27bn from their marquee auctions of Modern and contemporary art,
The latest allegations about the AFP’s targeting of Canstruct – the Australian government’s biggest South Pacific contractor – pose a fresh political challenge for the Albanese government after it campaigned hard on integrity and sought to position Australia as an honest broker in the face of China’s use of financial inducements and suspected corruption to
LONDON, UNITED KINGDOM / ACCESS Newswire / July 1, 2025 / Acclaimed contemporary artist Frank Taylor continues to make waves in the art world, with his market value experiencing an impressive 40% annual growth. As collectors and investors alike recognize the increasing value of his work, Taylor solidifies his position as one of the most
Marking its 55th edition, Art Basel returned to Messe Basel this June with an ambitious presentation that confirmed its position as the undisputed heavyweight of the international art fair circuit. Spanning from June 17 to 22, with two preview days, the fair drew an impressive 88,000 visitors, bringing together collectors, curators, artists, and institutions from
Nashville-Based Contemporary Artist Commands Premium Pricing as Celebrity Collectors and Major Developers Drive Market Growth NASHVILLE, TN, June 27, 2025 (GLOBE NEWSWIRE) — Abstract artist Erik Skoldberg is experiencing explosive market demand as his original works now command prices ranging from $35,000 to $180,000+, positioning him among the most sought-after contemporary artists collected by major
Efforts to attract private investment in the creative sector are being hampered by a “perceived lack of commercial focus” and business models that “rely on key individuals”, a government-commissioned study has found. An evaluation of government’s Creative Growth Programme (CGP), commissioned by the Department for Culture, Media and Sport and carried out by Frontier Economics,
The Government’s Creative Industries Sector Plan is “light on action” for the performing arts sector, the chair of the Culture, Media and Sport Select Committee Caroline Dinenage has warned. The plan, published on Tuesday (23 June), sets out the aim of nearly doubling business investment in the sector by 2035 – from £17bn to £31bn