Art Industry Insights With Reena Devi

  • Will Oil States’ Pivot Towards Arts And Culture Succeed?

    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…

    ·

  • What Does The Climate Crisis Tell Us About Museums and Private Equity?

    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,…

    ·

  • Is the Gulf Market’s Growth Real Or A Mirage?

    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…

    ·

  • Does The Art Market Know Social Media Is In Its Flop Era?

    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…

    ·

  • Everything, Everywhere All At Once: Sotheby’s As A Case Study

    This spring Sotheby’s set the New York art scene abuzz with its purchase of the landmark Breuer building from its previous owner, the Whitney Museum. The auction house plans to move from its current York Avenue headquarters in early 2025, to the iconic building on Madison Avenue in the Upper East Side with updated galleries,…

    ·