A 12% drop in aggregate art sales last year, which brought total transactions worldwide to $57.5 billion, belies generational and demographic shifts supporting the collectibles space.
High-net-worth investors (HNWIs) are continuing to spend robustly on art and collectibles, even as the global art market faces persistent headwinds from economic and geopolitical uncertainty.
The latest UBS and Art Basel Survey of Global Collecting, one of the largest studies of its kind, offers a detailed look at how wealthy individuals are allocating their assets and shaping trends in the art world.
The report, which surveyed 3,100 HNWIs across 10 major markets – including the US, UK, France,…
