Art collecting, when examined through the lens of psychology, can be likened to walking a fine line. On one hand, it is viewed as a positive activity dedicated to the preservation and safeguarding of historical, cultural, and artistic artifacts. On the other hand, it is sometimes perceived as a purely economic endeavor aimed at profit-making, or even, in some cases, as an addictive...

The price of an artwork is influenced by a complex interplay of factors that include supply and demand, the artist's career stage, medium, provenance, market trends, and emotional value. The primary art market, where artworks are sold for the first time, relies heavily on galleries to set prices based on reputation, education, and quality. Meanwhile, the secondary market, involving...

At a talk accompanying her painting exhibition for the opening of Pace Gallery’s new branch in Japan, Maisha Mohammadi discussed her transition from neuroscience to art, her creative process, and how she embedded a wish for her husband into one of her works.

"The financial burden of participating in prominent art fairs such as Art Basel or Frieze poses a significant challenge for small galleries and emerging artists, particularly in recent months as the art market has been grappling with a crisis. In this discussion, Magnus Resch raises critical questions: How many more galleries can continue to operate under such difficult market condi...

 According to a report published by two art market analysts, the spring 2024 auctions have had the worst financial performance of the current century. This season has seen a decline in prices and demand at auctions such as Christie’s, Sotheby’s, and Phillips. Analyses indicate that this downturn is a result of global economic factors and shifts in buyer preferences, which could...

With the emergence of the global art market in the latter half of the 20th century, art itself became a commodity. The financial volume exchanged in buying and selling artworks surpassed all expectations. As a result, art began to gain more recognition not only through aesthetic standards but also through its rising material value. This shift—the transformation of the art world into...

Although the first significant attention to the artificial intelligence (AI) revolution emerged in the cultural sector, notably through the 2016 DeepMind Challenge Match, the prevailing belief was that AI would not significantly impact the fields of culture and art in the near future. This assumption, however, proved incorrect. Perhaps this is why, in June 2024, the Cultural Policy...

Using artworks as collateral for loans is not a new concept, but recent reports suggest that this practice is experiencing a notable rise and becoming increasingly prevalent in the global art market.

To keep the content concise, this top 22 list has been split into two parts, focusing on auctions from 2010 onwards. This timeframe not only allows for easier access to data but also reflects the dramatic surge in prices in recent years, making older figures less relevant. The "Maharajas & Mughal Magnificence" auction has been purposefully excluded to prevent it from overshadowi...