How did fine art perform in 2022? How is fine art performing as an asset class? Are fine art auction sales growing or declining?
These are just a few of the questions we answer in our early 2023 briefing on the fine art market. In just one handy page replete with facts, figures, charts, headlines, and commentary, catch up on the state of the market in mere minutes.
2022 was a challenging year for most markets as inflation ran hot, easy monetary policy came to a swift end, sentiment turned negative, and economic prospects grew uncertain. Speculation fell decidedly out of favor as a result, affecting many collectible categories. Art, though, boasts a longer track record and larger collector base than many of those categories. From Paul Allen to Macklowe, were generationally-important collections at auction enough to keep the market out of trouble? It's time to find out 1) how fine art was impacted in 2022, and 2) what we might expect for fine art in 2023.