Artwork & Finance Report 2019 – sixth version
Since launching the initiative in 2011, we’ve seen the worldwide artwork market ebb and circulate: from the aftermath of the monetary disaster to the height of the market in 2016. In parallel, we’ve additionally monitored how the wealth administration sector is more and more responding to aggressive pressures in its personal business, and the function artwork and collectible wealth are enjoying within the transition to a extra holistic wealth administration mannequin.
Since our final report in 2017, exterior components equivalent to rising political and financial uncertainty, fast technological progress, local weather change, and social inequality have dominated the headlines each day. We reside in a altering world, fraught with uncertainty. That is the context through which we should always view the worldwide artwork and finance business—the essential intersection between tradition and wealth.
We hope that this report will assist to lift consciousness of the developments and initiatives which have emerged throughout the artwork and finance business over the previous couple of years. Transparency, regulation, and expertise developments will play an vital function in the way forward for the artwork and finance business. Nevertheless, a collaborative method between all stakeholders (artwork professionals, collectors (younger and outdated), and wealth managers) is important if we’re to deal with the urgent points and challenges we face, significantly as regards rising belief within the artwork market at this time and within the years to come back.