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Brave New World: Meet the New Generation of Art Collectors

Brave New World: Meet the New Generation of Art Collectors
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Young, ambitious, educated and wealthy, a new generation of art collectors is taking the art world by storm.
Snapping up more works than ever before, a new and sharp-eyed generation of buyers is taking risks on emerging names and investing heavily in blue-chip artists. Beyond potential financial gains, these ambitious, educated and wealthy young people are also drawn to the prospect of joining the exclusive club that is the art world.
“The growth has just been phenomenal,” says Charlotte Raybaud, head of evening sale, 20th-century and contemporary art at Phillips Hong Kong, of the number of young art aficionados entering the market. “It’s also undeniable that art has become a very valuable alternative investment. While you should always collect [based on] your passion, it’s hard to not pay attention to the big prices that are being achieved at auction and in galleries.” ....

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'Fierce' Demand From Collectors in Asia Propelled Sotheby's $217 Million Sales of British and Contemporary Art in London

The night was marked by respectable, but not frothy, bidding.
June 29, 2021
Helena Newman, worldwide head of Sotheby’s Impressionist and modern art department, taking the Modern and Contemporary art evening Sale, June 29 2021. Image courtesy Sotheby s.
Sotheby’s back-to-back sales of British and modern and contemporary art in London today made a respectable £156.2 million ($217 million) across 83 lots, a total comfortably within the pre-sale estimate of £119.7 million to £170.3 million ($165.7 million to $235.7 million).
The British sale accounted for £48 million ($67 million), with 30 of 34 lots sold (another work was withdrawn before the sale). That total exceeded the original high estimate of £46.8 million ($65 million), published before the lot was withdrawn. ....

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Phillips Hong Kong Spring Auctions realise US$122 million with four white glove sales

Jonathan Crockett, Chairman, Asia, a href= http://www.phillips.com target= blank Phillips /a , said: “Building on momentum from 2020, Phillip ....

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The Back Room: Crypto Ain't Dead Yet

This week: An NFT market correction, Kenny Schachter radios in from the crypto frontier, mega-galleries jostle for supremacy, and more. ....

Hong Kong , West Hollywood , United States , United Kingdom , Los Angeles , Bruxelles Capitale , City Of , Katherine Bernhardt , Vito Schnabel , Yuki Terase , Hannah Hoffman , Phillips Hong Kong , Amy Castor , Katya Kazakina , Hauser Wirth , Danielle Mckinney , Amy Cappellazzo , Greene Naftali , Larvalabs Meebits , Mitchell Innes Nash , Almine Rech , Laurel Gitlin , Marianne Boesky , Emily Mae Smith , David Zwirner , Joe Hage ,

Crypto Ain't Dead Yet | Artnet News

This week: An NFT market correction, Kenny Schachter radios in from the crypto frontier, mega-galleries jostle for supremacy, and more. ....

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