Art Industry Insights With Reena Devi

  • What Does Marc Andreessen’s Techno-Optimism Tell Us About The Fractionalisation of Art?

    Back in 2021, during the heyday of NFT hype and the second year of the pandemic, there was an increased appetite for all things related to the digital art market. This was epitomised by the US$1 billion valuation of Masterworks in October that year. Founded in 2017, Masterworks is a financial investment platform that purchases…

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  • The Tale of Two Auction Sales: Karpidas’ €11 million collection and Richter’s $33 million Abstraktes Bild

    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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  • 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…

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  • 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,…

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  • 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…

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