INSUBCONTINENT EXCLUSIVE:
The global art market performed an intricate dance in 2024, stepping back from the exuberant highs of previous years
Overall sales dipped 4% to $65 billion, marking a significant shift in collector behavior and market dynamics.High-end transactions felt the
The ultra-luxury segment, once a reliable barometer of market health, stumbled as fewer works crossed the $50 million threshold.Yet, beneath
this cooling surface, currents of change stirred
China overtook the UK as the second-largest art market, with sales surging 9% to $12.2 billion
Slump, Middle Market Holds Firm
(Photo Internet reproduction)The middle market showed unexpected strength
Galleries reported increased activity, and online sales continued their upward trajectory
This digital pivot reflects a broader trend of collectors embracing new ways to engage with art.Economic factors played a crucial role in
High inflation and interest rates made collectors more cautious
High-End Sales Slump, Middle Market Holds FirmLooking ahead, experts predict a gradual recovery
Expected interest rate cuts in 2025 could reignite buyer enthusiasm
matters because it reflects broader economic trends and shifts in global wealth distribution
It also signals changing attitudes towards art as an investment and cultural asset.As the market evolves, it opens new opportunities for
