Invest Daily Pro
  • Economy
  • Investing
No Result
View All Result
  • Economy
  • Investing
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Economy

“New Era of the Art Market: ArtTactic and Artscapy Report Examines Impact of Speculation, Gender Parity, and Enduring Icons”

by
November 26, 2024
in Economy, Investing
0
“New Era of the Art Market: ArtTactic and Artscapy Report Examines Impact of Speculation, Gender Parity, and Enduring Icons”
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

ArtTactic, in collaboration with Artscapy, has unveiled its latest market analysis, the “Wet Paint” report, which examines three significant trends in the art world from 2015 to 2024. Drawing on extensive auction data from leading houses Christie’s, Sotheby’s, and Phillips, the report offers insights into how speculative buying has both influenced and reflected art market trends. Key findings also highlight a notable shift towards gender parity and the enduring impact of iconic artists who continue to capture the attention of collectors and investors.

Gender Parity on the Rise

The “Wet Paint” report sheds light on a significant shift in market dynamics, with a growing gender parity in the art world that has even extended to speculative sales. According to the report, female artists now account for 41.3% of the sales value among “wet paint” artists, indicating a shift towards disregarding gender as a factor in buying and selling decisions. This marks a departure from previous trends, where male artists received disproportionate attention.

The shift is particularly evident among younger artists, who are experiencing increased visibility and demand, especially in prominent auctions. While the speculative nature of “wet paint” sales may not contribute to long-term market stability for artists, this trend reflects a positive shift, signaling the market’s recognition of female artists’ potential to achieve pricing trajectories on par with their male counterparts.

Speculation Reflects Market Trends

The “Wet Paint” report also highlights the close correlation between speculation in the art market and the overall market. Between 2015 and 2021, as the market experienced a surge, speculative buying also saw a significant increase, particularly in the “wet paint” segment, which refers to artworks resold within three years of creation. This trend reached a record high of $215.2 million in 2021 before experiencing a sharp decline to $29.7 million in early 2024, coinciding with the general cooling of the art market in the post-pandemic period. Interest in emerging artists also mirrored these highs and lows, with sales of younger artists showing significant volatility after 2022. This data not only highlights the procyclicality of speculative buying and the general market but also emphasizes the necessary co-dependence of a market in which speculation can take place.

Enduring Appeal of Sought-After Artists

Despite the speculative nature of the art market, the “Wet Paint” report confirms the enduring appeal of established, sought-after artists such as Cecily Brown. These artists maintain a loyal collector base willing to invest in their latest works, even as market enthusiasm fluctuates. When a “hot” artist emerges, collectors are eager to purchase their new pieces, suggesting that established names with strong brand value can sustain demand through market shifts and even outright speculation. This stability in the work of high-profile artists provides a counterbalance to the more unpredictable sales patterns seen with emerging talent.

Speculative Boom for Young Contemporary Artists

The report also highlights a surge in demand for young contemporary artists, particularly in the post-pandemic period, which saw high levels of speculative buying. Notably, these artists, including Jadé Fadojutimi and Flora Yukhnovich, experienced a significant slowdown in demand in 2023 and 2024.

Alessandro De Stasio, Founder and CEO of Artscapy, commented on the findings, stating, “While speculative behaviors can be detrimental to artists, particularly those in the early stages of their careers, I interpret the results of this report as a positive shift towards a healthier and more equitable art market – one where art is valued for its intrinsic merit and cultural relevance, increasingly free from biases related to gender, nationality, or ethnicity.”

Anders Petterson, CEO and Founder of ArtTactic, also shared his thoughts, stating, “As we approach 2025, the global art market is recalibrating, with speculative trends from recent years beginning to wane. This reset opens the door for collectors and investors to reconnect with the market.”

The “Wet Paint” report was distributed by https://pressat.co.uk/ on Tuesday, 26 November, 2024.

ShareTweetPin

Related Posts

Blue Lagoon’s Dome Mountain Joins BC’s Select List of Permitted Projects
Investing

Blue Lagoon’s Dome Mountain Joins BC’s Select List of Permitted Projects

June 2, 2025
Harmony Gold to Acquire MAC Copper in US$1.03 Billion Deal
Investing

Harmony Gold to Acquire MAC Copper in US$1.03 Billion Deal

June 2, 2025
Editor’s Picks: Gold Faces Bumpy Week on Trade Tensions, Platinum Stages Breakout
Investing

Editor’s Picks: Gold Faces Bumpy Week on Trade Tensions, Platinum Stages Breakout

June 1, 2025
Top 5 Canadian Mining Stocks This Week: Adyton Sparkles with 97 Percent Gain
Investing

Top 5 Canadian Mining Stocks This Week: Adyton Sparkles with 97 Percent Gain

May 31, 2025
NVIDIA Rallies After Strong Q1, AI Demand Outshines China Export Hit
Investing

NVIDIA Rallies After Strong Q1, AI Demand Outshines China Export Hit

May 31, 2025
CDX May Investor Presentation
Investing

CDX May Investor Presentation

May 30, 2025
Next Post
Navigating Post-Accident Negotiations: Key Pitfalls to Avoid

Navigating Post-Accident Negotiations: Key Pitfalls to Avoid

Recommended

DoubleDragon ends P10-B bond offer early

DoubleDragon ends P10-B bond offer early

November 19, 2024
Scott Dylan: Smaller AI Models Are Transforming Retail Innovation for SMBs

Scott Dylan: Smaller AI Models Are Transforming Retail Innovation for SMBs

October 26, 2024

What are the different types of lenses for glasses?

August 21, 2024
Two Down and Two to Go – Capitulation and Thrust are just a Start

Two Down and Two to Go – Capitulation and Thrust are just a Start

May 4, 2025
Unraveling the Mysteries of Slot Gacor and Toto Togel: The Hidden World of Winning

Unraveling the Mysteries of Slot Gacor and Toto Togel: The Hidden World of Winning

October 4, 2024
ADB keeps PHL growth forecasts

ADB keeps PHL growth forecasts

September 25, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 InvestDailyPro. All Rights Reserved.

    Disclaimer: InvestDailyPro.com, its managers, its employees, and assigns (collectively InvestDailyPro ) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    No Result
    View All Result
    • About us
    • Contact us
    • Home
    • Privacy Policy
    • Suspicious engagement
    • Terms & Conditions
    • Terms & Conditions
    • Thank you

    Copyright © 2024 investdailypro.com | All Rights Reserved