The future of art in the market and trends
Art in the next years in my opinion it will be optimistic. The tech and strong online sales are doing great and continues to transform the traditional art world. They are a lot of trends that are going on and they will determine the future of the art market for this year and beyond.
One of the future types of art is the Artificial Intelligence is something that was only found is Si-Fi movies but the reality is that it has arrived and is here to stay. On October of last year an AI-generated painting, Portrait of Edmond Bellamy, sold for $432,500 at Christie’s. It was expected to sell for $7,000 to $10,000. The portrait was created by Paris-based collective Obvious, using algorithms and code. It is the first artwork made entirely by AI. This is a trend just taking off.
Another important trends that in my opinion is great is the female artists rising in the art market because in the past few years a lot of galleries and museums have organized shows focused on female artists.
This trend is expected to continue in future days, also they are plenty of exciting female artists exhibitions coming up this summer. An exhibition featuring works by Sofonisba Anguissola and Lavinia Fontana is currently on view at Prado in Madrid, Spain.
The continued interest in female artists will reflect on the sales as well, with a number of women artists’ works expected to reach record-breaking price tags.
The destination art fair is another interesting one. From Art Dubai to Zona Maco, art fairs are trending across the globe. Fairs are collaborating with partners, including museums and magazines, to offer platforms for discovery, debate and collecting. Typically taking place across several days, they have become a destination for collectors, dealers and a globalising art market.
And the last one is the rise of social media has made art business more democratic and more transparent than ever. Instagram has emerged as art professionals favorite platform. This application is widely used by artists, collectors and galleries alike. And the artists use it to sell their works directly to buyers.
One of the young artists users that use instagram as an instrument to boost her work is Alexa Meade, this artist kick-started her career on Instagram has since exhibited in many galleries such as Saatchi Gallery, Sotheby’s New York and many others.
Instagram is also used by collectors in search of undiscovered art and promising young artists whose works cannot be seen in galleries and museums. According to Hiscox Online Art Trade Report, 79% of millennial art buyers use Instagram for discovering new art.
Instagram will continue to serve as a mean for acquiring art, but it will also retain its educational and informative role. Now for the first time in history, you can easily view the latest exhibition at Louvre Abu Dhabi, check out hot new artists in Chile and upcoming shows in L.A., all that in just a few minutes without ever leaving your home.
In my opinion this is the part of the market where we will see the biggest changes, as galleries explore new ways of doing business, from shared spaces to co-operative initiatives and partnerships. At the same time, fairs will continue to replace the need for bricks-and-mortar space for many middle-market galleries.
It’s clear that the art market continues to hold strong, even with the changing social and economic landscapes. However, the market is also evolving, shifting more of the sales to online platforms where it is easier to discover and invest in emerging artists.
Biography:
HISCOX. (2018). Hiscox only art. 2019, de Hiscox Sitio web: https://www.hiscox.co.uk/sites/uk/files/documents/2018-04/Hiscox-online-art-trade-report--2018.pdf
D. G. L.. (2019). Anguissola, Sofonisba. 2019, de Museo del Prado Sitio web: https://www.museodelprado.es/aprende/enciclopedia/voz/anguissola-sofonisba/949e390c-13b0-429d-99c9-2b98f2e89a32
CBS. (2019). Art created by artificial intelligence. 2019, de CBS NEWS Sitio web: https://www.cbsnews.com/pictures/art-created-by-artificial-intelligence/
Alexa Meade. (2019). Alexa Meade Painter . 2019, de Alexa Meade Sitio web: https://alexameade.com/
Abby Schultz. (2018). Female Artists’ Works on the Rise. 2019, de PENTA Sitio web: https://www.barrons.com/articles/female-artists-works-on-the-rise-1529467305
