Which forecast can I seriously make now in the beginning of the year?
First: In the last decades the art market tend to react slighly time delayed to recessions. We saw this in 1990/1991 and in 2008/2009. Therefore, the extremely wealthy will continue to support the high-end market. The prices for a very few artists will go up and up. After the incredible records last year – Paul G. Allen, Doris and Thomas Amman, Beeple, only to name a few – I expect a further strengthening of the market this year in the high price segment. Apparently the extreme wealthy will continue to invest in art as a long-term asset.
Second: The prices for the medium price category will experience a cool down. Lots of artists, whose art ist offered between 25 k and 100 k EUR, will realise less sales
Third: At the same time young artists, whose works are not yet established in the internationel art market, will have even more difficulties in selling their art works.The middle class with an affinity for art will have less less purchasing power.
Fourth: Prices for works by female artists will continue to reach higher price. Female art will get more acceptance and attention in all segments of the art world. I expect a further boost for exhibitions, sale prices and publications for female artists in total.
Fifth: The subject of sustainability will also become important for the art world. The awareness for our nature and climate will also influence processes in the art world.
