Contemporary Art Market

The contemporary art experienced a significant correction in the 2024-2025 season with prices declining in most auction sales. While high-end works (above $10 million) saw a

steep drop, there was a surge in demand for buying art work at lower price and a shift towards mid-tier collectors. Original online art sales are also growing indicating a change in how collectors interact

with the market.

In the past 5 plus years we observed young and still unproven artists just out of school appearing in large numbers while their paintings were still wet. The new contemporary business

model and greedy desperate strategy of just moving inventory and not developing an artist's credentials has taken a negative toll on many of these artists, something we have not seen in the

past twenty years. Major auction houses cannot be lured into this game. The purpose of an art gallery is to educate the public and develop a following for the artist's work. The situation has now changed

as we are now seeing paintings not selling even below their low estimate.