Brave New World: Meet the New Generation of Art Collectors Share
Young, ambitious, educated and wealthy, a new generation of art collectors is taking the art world by storm.
Snapping up more works than ever before, a new and sharp-eyed generation of buyers is taking risks on emerging names and investing heavily in blue-chip artists. Beyond potential financial gains, these ambitious, educated and wealthy young people are also drawn to the prospect of joining the exclusive club that is the art world.
“The growth has just been phenomenal,” says Charlotte Raybaud, head of evening sale, 20th-century and contemporary art at Phillips Hong Kong, of the number of young art aficionados entering the market. “It’s also undeniable that art has become a very valuable alternative investment. While you should always collect [based on] your passion, it’s hard to not pay attention to the big prices that are being achieved at auction and in galleries.”
Southbank hotel site back on the market
We’re sorry, this service is currently unavailable. Please try again later.
Dismiss
Normal text size
Advertisement
Liquidators have called time on a Southbank development site that is back on the market for the third time in five years.
The project at 63-69 City Road, was to be the first Melbourne building for Jason Chong’s Malaysian-based Cornerstone Partners Group which had signed up UK hotel group Yotel.
63-69 City Road.
Credit:
Demolition had already started, with No.67 razed despite being listed as contributing to local heritage. No.63 still stands. The site covers 915 square metres.
Southbank hotel site back on the market theage.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theage.com.au Daily Mail and Mail on Sunday newspapers.