Old Money Meets New Galleries: The Art Market’s Quiet Revolution
Art collecting among the world’s wealthiest is taking an unexpected turn. Rather than sticking to established blue-chip dealers, high-net-worth collectors are now branching out—88% have bought from at least one new gallery in the past year, and the average collector now works with 17 galleries, up from 13 just five years ago.
Despite a 32% drop in average spending in 2023, median outlays have barely budged, hinting that the biggest changes are happening at the extremes. The appetite for discovery is strong: over half of collectors’ budgets now go to new and emerging artists, and the share of works by women artists in collections has hit a seven-year high. Digital platforms are also reshaping the scene, with nearly three-quarters of collectors buying art online and 43% using Instagram as a marketplace.
As optimism rises and intergenerational wealth quietly shifts hands, the art world’s center of gravity is moving—less about trophy pieces, more about curiosity and connection. The future of collecting looks less like a fortress, and more like an open door.
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