It’s hard to believe that another year has come and gone, but the new calendar presents a great moment for reassessing the art market, which has seen some volatility in the past few years. The good news is that there are always opportunities if you know how to look. The current environment is less robust than in recent years, but the art market remains active. The last two months of auctions and art fairs indicate that there are still a large number of people buying art.
Trends worth noting are:
• Global economic uncertainty is causing collectors to focus on more established, blue-chip artists: an art world flight to quality.
• Many collectors, galleries and museums are on the hunt, looking back and rediscovering overlooked and undervalued artists.
• A shift away from the more uncertain emerging artist market means there is less competition to acquire the best ones.
And with the New Year comes a celebration: 2017 marks the seventh anniversary of Elements in Play. As most of you know, I founded my art advisory service with private clients in New York City. But in the intervening years, I have expanded the business globally and have also taken on corporate clients and real estate developers in New York and Miami. It’s much more than I expected, and all of it continues to be stimulating and rewarding. Thank you for your encouragement, your support, and your referrals. Here’s to the New Year!
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01/10/17