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A version of this analysis was commissioned by London-based Pictorum Advisory for their October Quarterly Report. There is a palpable bleakness in the international auction market of late. Phillips reported a 39 percent drop in global sales during the first half of 2023, from $746 million in the first half of 2022 to $453 million…
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As supply dwindles and the climate warms, oil states have promised to diversify away from fossil fuels. Building the cultural economy is part of their plan, with Saudi Arabia alone aiming to open more than 200 cultural attractions by 2030. ‘Phasing down fossil fuels is inevitable and it is essential—it’s going to happen,’ promised Sultan…
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At the end of July, the world’s hottest month on record, the United Nations Secretary General, António Guterres, declared that global boiling had begun. A week later, during the region’s usual winter period, Argentina’s capital broke its record for the hottest start to August in 117 years. The world’s highest lake in Bolivia, Lake Titicaca,…
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A version of this analysis was commissioned by London-based Pictorum Advisory for their June Quarterly Report. Christie’s and Sotheby’s increasing engagement with the states of GCC (Gulf Cooperation Council) begs a closer look at the region’s aspiring and established creative economies. Last month, Christie’s Middle East reprised its Modern and Contemporary Middle Eastern art auction…
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Back in 2020, social media replaced art fairs as the third most successful means for galleries to sell art, moving up from sixth place in 2019, primarily due to the pandemic. This was reported by Artsy Gallery Insights 2021 Report. Yet, there were already tell-tale signs of the shift towards online appetites as far back…
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Art Industry Insights With Reena Devi 