The global art market is undergoing changes, and cities like New York, London, Paris, and Hong Kong have evolved as as major hubs for high-profile auctions over the past decade. These transformations are driven by economic, political, technological, and cultural factors, leading to the development of new approaches in art sales. Considering the impact of the COVID-19 pandemic and th...

 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...

"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...