In recent years, the art auction world has experienced a noticeable slowdown. According to recent reports, auction sales have fallen by 6% so far this year , marking the third consecutive decline . In economic terms, this translates to more than $3 billion less compared to 2022.
At first glance, these figures might sound alarming. Is this the beginning of the end for the major auction houses? Our experts agree that we are not facing a total collapse of the art market, but rather a profound transformation .
Collectors haven't stopped buying, but their priorities and habits have changed . Today, the search for unique pieces, the interest in emerging artists, and new ways of acquiring art (whether online or through fairs and smaller galleries) are redrawing the map of collecting.
New collectors? New unwritten rules
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Less FOMO, more due diligence. Provenance, comparables, historical liquidity, and conservation costs weigh more heavily in the decision.
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Cross-cutting interests. Coexistence between established names and emerging artists. Narrative and curatorial context once again become levers of value.
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Sustainability and a shift towards local. There is a growing awareness of responsible practices (materials, transport, insurance), and a marked interest in local artists, something that is already affecting logistics and sales planning.
How to move now...
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Sell strategically, not hastily. Choose the right market and week; sometimes a well-positioned private sale yields more than a saturated auction.
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Purchase with a rationale. Define why you want that work (narrative, fit in collection, exhibition history) and what your time horizon is.
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Ask for data. Request comparables, condition reports, and curatorial context. Ask about guarantees, fees, and pricing scenarios.
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Diversify. Not just by artists, but also by media, periods, and geographies.
- Seek advice from experts. Don't trust just anyone, and rely on those who truly understand how the market works.
What does this mean for the future?
The art market isn't disappearing: it's evolving . Auction houses that adapt to these new trends—from exploring digital channels to reaching younger and more diverse audiences—will have the opportunity to lead this new cycle.
In conclusion, more than a crisis, we are facing a paradigm shift . And in that shift, those who know how to read the signs will always be one step ahead.
