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From Banksy to Beeple: Why art sales at auction houses have soared amid the pandemic

$25m “For big fat capitalists, it has been an incredible year,” says Belgian art collector and market watcher Alain Servais. “The S&P [stock market index] has grown by 100 per cent since the dip in March last year. Portfolios have been rising by about 10 per cent and 25 per cent. A lot of people have made a lot of money over the past 12 months.” Belgian collector Alain Servais. Michel Loriaux For the art market, the change is not only that there is more money in the system, it’s that the money is coming from different places, and going to different artworks.

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Art Dubai, the First Major In-Person Art Fair Since the Pandemic, Proves That Collectors Are Ready to Show Up and Spend

Art Dubai, the First Major In-Person Art Fair Since the Pandemic, Proves That Collectors Are Ready to Show Up and Spend
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International art world makes tentative plans for fairs, amid cautiousness and fatigue from online viewing rooms

International art world makes tentative plans for fairs, amid cautiousness and fatigue from online viewing rooms Most of the art world’s major international events scheduled for the early months of 2021 have already been postponed or converted into more pandemic-aware formats. Thousands of well-heeled frequent flyers browsing around yet another exhibition center, in yet another country, eager to discover the art world’s next big thing. That was the fun of art fairs, the destination events that defined and fueled a global boom in recent years. In 2019, sales from the world’s art fairs reached an estimated $16.6 billion, with dealers relying on fairs to generate more than 40 percent of that year’s revenue, according to last year’s Art Basel & UBS Art Market Report.

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