The art market is in constant change, but even in this ever-changing landscape, it’s possible to distinguish several relevant trends that are here to stay. Trends that will dominate the art market in the years to come. Stay tuned, because, in this blog post, we’ll take a look at 4 exciting trends that we believe, will shape the future of art.
It didn’t take long for art collectors to notice the trend. As they are always on the lookout for undervalued art, collectors begin to invest heavily in art made by women. At an auction in October 2018, Jenny Seville’s painting Propped set an all-time price record for a painting created by a living female artist. Auction houses were quick to respond to the demand and begun to organize female-only auctions. This January, Sotheby’s organized its first all-female auction composed of artworks by 16th, 17th, 18th, and 19th-century female artists.
The trend is expected to continue in the days to come. There are plenty of exciting female artists’ exhibitions coming up in 2019. A comprehensive exhibition of works by Hilma af Klint is currently on view at Guggenheim, an exhibition featuring works by Sofonisba Anguissola and Lavinia Fontana is coming to Prado in Madrid, Spain, while Berlin’s Alte Nationalgalerie will feature a selection of women artists who exhibited in the venue until 1918.
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.
2. The Rise of Interest in African-American Art
Increased pressure to exhibit diversity on their walls leads museums and galleries to show more interest in African-American art. February in the US is traditionally Black History Month, but nowadays African-American art is under the spotlight all year round. Soul of a Nation: Art in the Age of Black Power, an exhibition originally installed at TATE in 2017 is currently on view at the Brooklyn Museum, while Phillips is showcasing 65 African American artists at its first all-African-American group exhibition.
And just like with female artists’ works, collectors and auction houses followed the trend. Last May, Kerry James Marshall’s monumental artwork entitled Past Time reached the price of $21.1M, which made it the most expensive artwork by a living African-American artist ever sold. And that’s just the beginning. In the upcoming years, auction prices of African-American art are expected to skyrocket and reach new heights.
3. Instagram and Social Media
The rise of social media has made art business more democratic and more transparent than ever. Among several social networks, Instagram has emerged as art professionals’ favorite platform. Instagram is widely used by artists, collectors and galleries alike. Artists use it to sell their works directly to buyers, to raise interest in their art or to grow their artist brand.
Instagram was instrumental in boosting the careers of many young artists. Artist Alexa Meade, for example, made a name for herself when images of her paintings went viral. The artist who kick-started her career on Instagram has since exhibited in many renowned galleries such as Saatchi Gallery, Smithsonian National Portrait Gallery and, Sotheby’s New York.
Instagram is also widely 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.
In 2019, 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.
4. Taipei as a New Art Destination
In the past few decades, China has become one of the most lucrative markets for high-end art. However, the trade war that’s raging between the United States and China, contributed to the decrease in auction and trade show sales in the Chinese mainland. Subsequently, Taipei has popped up as an exciting, new art destination.
In the future, Taipei could become just an important art market hub as the mainland China. In an attempt to attract local collectors, in 2019 the city has organized its first art fair — Taipei Dangdai. And with renowned galleries like Sean Kelly Gallery and Lévy Gorvy, opening venues in Taipei, Taiwan’s capital is surely on its way to becoming the next interesting art location.