Theme 1: “Outsider In”
“All hail the outspoken, the outré and the odd,” the report declares,
somewhat breathlessly. “As we become ever more inundated with
mass-replicated imagery and aggregated articles, our appetite for unique
messengers and standout visuals increases with each and every share…
consumers are rejecting anything that has even the slightest whiff of
Goliath… We’ve entered a new Age of the Strange.”
Current world events are causing hesitation in spending–buying patterns show some caution, but not when it comes to the arts.
Most art market report and agree that current uncertainty in politics and economics is affecting high-end spending. People are turning to experts and data to guide their decisions, and statistics show a shift from buying art from auctions to art dealers.
Recently art dealers are closing 63% of art sales, while auction houses experienced a 19% decline in sales in 2017. Trust, transparency, and discretion are key factors that collectors seek in a dealer’s reputation.
Overall, the outlook for the global art market is increasingly positive with an 18% increase in a positive outlook combined with an 8% decrease in negative opinions.