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Global Art Market

‘Next Gen’ Art Shipping In Time For Art Month

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Source: Arts and Collection

With Art Month coming up, issues surrounding art shipping have never been more pressing. Tech-led fine art shipper Convelio has some innovations to report

Despite the bumpy ride of late (Brexit, Covid-19 and inflationary implications on the economy), the international art market is thriving and eagerly anticipating the dynamic upcoming Frieze London and Frieze Masters art fairs, along with hundreds of satellite events across the UK’s capital this October. None of this would be possible without seamless art logistics. There are developments within the engine room of the art world that promise to better cater to the diverse and ever-growing needs of galleries exhibiting and clients acquiring at the renowned dual fairs in Regent’s Park and beyond. Convelio, the tech-led fine art shipper, has launched two distinct service offerings, Convelio Essential and Convelio Fine Art. These new services aim to provide tiered logistics options that address the unique requirements of different segments within the art market, in time for one of the biggest art moments globally.

Read more: https://www.artsandcollections.com/next-gen-art-shipping-in-time-for-art-month/

Global Art Market

Eight Trends In The 2024 Global Art Market

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Source: Forbes

The changing tides of the global art market have been laid bare in the UBS Art Market Report 2024 by Arts Economics. According to the report, globally, art sales have slowed, save for China where they have increased by 9% to a staggering $12.2 billion. Online sales increased worldwide too, but the highest-priced art deals still tend to happen offline

Here are some of the most interesting trends identified in the report that I believe can help provide an outlook on the current global art market:

Read more: https://www.forbes.com/sites/forbesbusinesscouncil/2024/05/16/eight-trends-in-the-2024-global-art-market/

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Global Art Market

Global art sales down 4% to $65bn in 2023

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Source: Delano

2023 was a politically and economically complex year, says Arts Economics founder Clare McAndrew, and those complexities have filtered down into the art market. The global value of sales fell 4% to $65bn, while sales in China increased and online sales resurged.

After two years of growth, global art market sales have slowed down, found the eighth edition of the Art Basel & UBS Global Art Market Report, published in March 2024. In 2023, the global value of sales came to $65bn, falling 4% from $67.8bn in 2022. This figure, however, was still higher than the $64.4bn of sales seen in 2019, just before the outbreak of the covid-19 pandemic.

Read more: https://delano.lu/article/ubs-art-basel-2023-was-a-compl

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Global Art Market

Expo Chicago 2024 Proves City Is Strong Player On Global Art Stage

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Source: Forbes

In its first year as part of the Frieze network—which also acquired the Armory Show in 2023—Expo Chicago managed to balance its notably friendly Chicago atmosphere with a strong showing from the global art market. This past Sunday, Expo concluded the 11th edition of its annual four-day fair, with over 35,000 visitors and robust sales from 170 galleries representing 29 countries and 75 cities.

“In our 11th edition of Expo Chicago, we are grateful to now be part of the Frieze family,” said Tony Karman, President and Director of Expo Chicago. “There was a tangible sense of excitement around this year’s edition, a sentiment echoed by our patrons and gallerists, translating into strong sales and an energized atmosphere at the fair and throughout the city.”

Read more: https://www.forbes.com/sites/juliabrenner/2024/04/17/under-new-ownership-expo-chicago-2024-showed-the-city-as-a-strong-player-on-the-global-art-stage/

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