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4 Predictions on How the Art Industry Will Transform in 2023

The Art Angle

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Is There a Chance That China or the UK Will Be a Hotter Art Market?

I'm also predicting that from January through June, meaning the first half of 2023, total auction sales of works by ultra contemporary artists will decline year over year. We were already starting to see some cracks in the market, especially in the latter half of last year. Don't get me wrong, there were still some of these young, extremely hot players who were doing well going pretty far above their estimates at major sales. But when you combine that with what's happening in the economy, I think that we're reaching a point where frankly, the overall environment is just not conducive to people who have a lot of money to spend.

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