Marc Spiegler, the former global director of Art Basel, has launched an online course to help individuals understand the rapidly changing contemporary art industry. The ten-hour programme, in collaboration with Art Market Minds, aims to provide guidance on navigating the complex and often opaque dynamics of the art world. This initiative is part of a new programme by Spiegler and Art Market Minds that will offer support for developing business proposals related to the art industry.
https://www.theartnewspaper.com/2025/01/09/the-art-world-according-to-marc-spiegler-former-art-basel-boss-launches-online-courseThe DF Art Agency marked the end of a notable year with an art exhibition featuring trompe l'oeil artworks by Padua, showcasing their signature technique that blends deception and emotional candor.
https://www.manilatimes.net/2025/01/03/tmt-newswire/df-art-agency-ends-international-projects-with-paduas-succes/2029469The digital art market is expanding to include cryptocurrencies, with the use of Bitcoin as a form of payment becoming increasingly popular. The artist known as "Plastikman" has sold his artwork for $1 million in cryptocurrency, specifically in Bitcoin. This sale marks one of the first times that an artwork has been sold for such a high price using digital currency.
https://reason.com/2025/01/02/photo-the-disappearing-satoshi-nakamoto-statue/Professor Mei Jianping, a finance professor at the Cheung Kong Graduate School of Business in Beijing, has launched three art indices that track price trends and sentiment in China's art market. The MM Global Impressionist Price Index and the MM Global Contemporary Art Price Index are based on auction data from leading houses such as Sotheby's, Christie's, and Phillips across major global markets. According to the 2024 MM Chinese Art Index, Chinese art has outperformed global art trends with a compound annual growth rate of 9.3% since 2000, despite a market contraction in 2024. The index also highlights key artists such as Zao Wou-Ki and Wu Guanzhong whose works exhibit exceptional market liquidity.
https://www.prnewswire.com/news-releases/ckgsb-professor-mei-jianping-launches-global-indices-tracking-impressionist-contemporary-and-chinese-art-markets-302340317.htmlA Monet Water Lilies painting has been sold on the Chinese social media app Xiaohongshu, sparking online discussion among luxury shoppers. The sale was posted by Gao Zhen-yu, owner of Gao's Gallery in Avignon, France, who claimed that the 1908 Nymphéas painting had seven previous owners and had been included in five exhibitions. The post went viral on Xiaohongshu, with some users expressing skepticism about the authenticity of the sale.
https://www.scmp.com/lifestyle/arts-culture/article/3291630/monet-water-lilies-sale-chinese-social-media-app-goes-viral-gallery-silent-details?module=top_story&pgtype=sectionThe Hong Kong government is reviewing its event calendar to ensure that each event contributes positively to the city's economy and reputation as Asia's events capital. This review comes after a year of hosting numerous events, including exhibitions featuring works by French masters Paul Cezanne and Pierre-Auguste Renoir at the Hong Kong Museum of Art, and Spanish artist Pablo Picasso's masterpieces at M+, which are expected to attract visitors from mid-March to mid-July.
https://www.scmp.com/opinion/article/3290391/hong-kong-asias-events-capital-can-ill-afford-host-any-more-mega-flops?module=top_story&pgtype=sectionThe art market experienced a decline this year, with top-end sales failing to recover from pre-pandemic levels. Auction houses Sotheby's and Christie's both opened new headquarters in Hong Kong, but saw sales fall for the second consecutive year. The demand for ultra-contemporary work also decreased significantly, putting pressure on major players in the industry. This trend was evident at Art Basel Hong Kong, which held its first full-scale edition since the pandemic, as well as other auction houses that expanded their operations in the city.
https://www.theartnewspaper.com/2024/12/12/the-year-in-review-slump-squeezes-biggest-players-and-frieze-for-saleThe Chelsea Art Fair, an experimental art fair featuring five New York and Los Angeles-based galleries, including 56 Henry, Castle, Lomex, Matthew Brown, and Ramiken, took place at the historic Hotel Chelsea. The event was backed by Platform, an online art sales site owned by David Zwirner, and drew over 3,000 attendees. Galleries such as Matthew Brown and Castle showcased ambitious programs and artist rosters, providing a context for viewers to experience the current trends in contemporary art. Despite its promising start, it is unclear whether the fair was a success, although organizers were optimistic about re-establishing the Hotel Chelsea's history of involvement with the arts.
https://www.theartnewspaper.com/2024/12/11/chelsea-art-fair-debut-hotel-chelsea-platformThe lower end of the art market, defined as sales up to $50,000, has experienced modest growth of 2% in contrast to a declining trend, accounting for over 90% of transactions and helping to maintain overall sales volume. This shift is a reversal from previous years when only high-end sales above $10 million showed growth following the COVID-19 pandemic. The major international auction houses have also seen a significant increase in online-only sales, with these now making up 63% of their total sales, while live sales have decreased by over 20%. Economist Clare McAndrew notes that expanding the base of the market is crucial for its stability and has been a long-needed development.
https://www.theartnewspaper.com/2024/12/04/small-but-mighty-sales-under-100000-defy-market