Matthias Arndt’s Post

If you're an art collector, chances are you've been to one of the world's prestigious art fairs, such as Art Basel, Frieze, or Art Miami. They represent the dynamic and ever-evolving landscape of the art world while serving as a place for vital cultural exchange. However, the latest statistics show that high-net-worth collectors are attending the fairs in fewer numbers, making it harder for the businesses to be profitable. 🖼 "Why galleries can’t quit fairs despite higher costs and lower returns." >>> https://bit.ly/48K0AJk <<< To encourage collectors to attend, fair organizers are ramping up offerings to include more immersive activities and heightened experiences and offering more one-of-a-kind moments with leading figures in the art world. #artfair #art #artcollector #artcollecting #artinvestment #artinvestors #wealthmanagement #investmentstrategy

Part 1/2: At the London Art Fair this month, the panel “What’s next in the art market?” shed new light on the challenges and opportunities the art world is set to navigate in 2024. Moderated by ArtTactic's Lindsay Dewar, and featuring industry experts including Sotheby's Head of Middle Market, Marina Ruiz Colomer, dealer Peter Osborne of Osborne Samuel Gallery, and Hong Kong based collector, Kitty Go. We first explore the five challenges. Read more on the link in comments ⬇ #ArcualTech #ArtTech #ArtMarket #LondonArtFair #ArtMarketTrends

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July and August are low seasons for the art market with many collectors and market participants enjoying summer holidays. Starting in early September, though, important art fairs are being staged again in cities like Seoul, New York, London and Paris. I suggest you read our short report to learn about the details of these fairs and why they are relevant. And, of course, I recommend you visit these fairs to experience some fantastic art! #partasio #artinvestment #diversification #alternativeinvestments

Since Brexit, Paris has been working hard on taking away market share from Europe’s dominant art market location, London. One of the highlights of this year’s Paris Art Week in mid-October was certainly the second edition of Paris+ by Art Basel. Read our short report to learn about the art fair and the strong Paris auction results that accompanied this year’s Paris Art Week. #artinvestment #diversification #alternativeinvestments

How to make the most of your time at Art Basel, with advice from the art world figures that know the fair best.

In Aspen, a New Art Fair Follows the Money https://ift.tt/IxWYGNa A down art market? Depressed dealers? Fatigued buyers? None of that matters in Aspen, Colo. At least, that is the theory behind a new art fair in the city when the global arts industry is in a slump. Aspen is both rich and spendy, with one of the highest concentrations of ultrawealthy homeowners in the country. Even the worst of times is not all that bad here, said Doug Leibinger, a longtime real estate agent in Aspen, who represented the seller in a $77 million cash deal for an eight-bedroom home in April, setting a Colorado sales record during a downturn in the U.S. housing market. The record was broken again with another Aspen deal just a week later. “Our marketplace is anomalous to the rest of the planet,” Leibinger said. “There are people who find Aspen desirable regardless of what happens in the greater economy. “ All those bursting wallets and bare walls add up to a consistent demand for paintings and sculpture, enough for Rebecca Hoffman, the founder of the Aspen Art Fair, to plunge ahead confidently with her event, even when trade reports show international art spending down more than 10 percent in 2023. The inaugural fair, staged at the Hotel Jerome, a 135-year-old resort, ends on Friday. Visitors were elbow to elbow during Monday’s opening preview, and there were bustling crowds the first few days; many of the 22 galleries reported multiple sales by Wednesday. Prices varied, with a number of offerings in the $12,000 to $40,000 range, in line with the leading fairs of comparable size. (Art Basel Miami Beach in 2023, with its nearly 300 exhibitors, still dwarfed this fair.) Business News via NYT > Business https://ift.tt/C4wZbXW August 2, 2024 at 02:12AM

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Begin reaching out to potential buyers from your contacts list 4-6 months before the art fair. Keep engaging with them both before and after the event. Craft a concise pitch highlighting what's unique about each artist and their work, tailored to what typically motivates buyers of an artist's work, such as the artist's renown or the story behind the piece. Offer an incentive to entice people to sign up for your gallery's mailing list. Keep in mind that most visitors to your booth may not purchase immediately. However, art fairs are about nurturing connections and consistent follow-up. Patience will lead to sales. #artsales #sellingartonline #sellmoreart #galleryfuel #artbusiness #artdealing #galleryowner #artbusinessconsulting

The art market’s first half of 2024 was characterized by rather risk-averse behavior among both buyers and sellers, resulting in fewer transactions due to a mismatch in expectations. Consequently, the market for top-quality blue-chip art continues to outperform all other segments, while demand from speculative buyers has significantly declined. Read our brief H1 2024 art market report for a comprehensive review of public auctions and art fairs. #arteducation #artinvestment #artinvesting #bluechipart