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Art Industry Trends 2023

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1 year ago

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Welcome to The Art Industry Trends Report 2023, Artsy’s new research-driven report on the key issues impacting art galleries today. This year, we surveyed gallery professionals and dealers from 85 countries to ascertain the major factors affecting the art industry in 2023, from the art driving the most sales to the ways that art professionals are meeting new collectors.

Below, find the five key trends we gleaned from this year’s survey. To see our full analysis and data insights, download the full report here.

Last year was marked by the full return of the physical art world, as COVID-19 restrictions across the globe mostly ended for good. Despite the return of in-person fairs and events, the online sales practices that flourished during the pandemic remain an important source of revenue for galleries today. Plus, our survey’s respondents intend for online sales to be a primary source of growing sales in the future.

This increasingly hybrid art world, where in-person relationship-building goes hand in hand with online sales mechanisms, is a theme that recurred across our survey. It became clear that a balance between the physical and digital is key. For example, when asked to select any number of their most important marketing channels, more than 60% of respondents chose email newsletters, followed closely by gallery websites (58%), in-person events (57%), social media (43%), online art platforms (42%), and in-person fairs (39%).

 

 

 

 

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Another central theme of last year—and one that continues to persist into this year—is global economic and political uncertainty, from which the art world is not insulated. Most respondents to our survey said that they have raised prices for artworks this year, with inflation viewed as the primary contributing factor, followed by other macro issues such as taxes/duties and geopolitical considerations.

Secondary-market demand ranked second among those reasons for artwork price changes, reflecting collectors’ appetite for the limited supply of artworks by a finite number of trendy artists. Most respondents, our survey finds, view mid-career and ultra-contemporary artists (born on or after 1975) as most important to future sales, which chimes with a year of record- and estimate-smashing sales for these categories at auction. Abstract art—a genre that has made strides in the secondary market for prices realized last year—is also viewed by a majority of respondents as most important to sales.

Youth is another thread that runs throughout our report. We see a marked difference in the interests and strategies deployed by younger galleries (those in business for less than three years), which are connecting with younger collectors and artists to a higher degree than their more established peers. Older collectors, meanwhile, are viewed by respondents as a whole to be less important to future sales: Only 10% ranked collectors aged 55+ as most important to the future growth of their business.

The Trends

1. Abstract paintings are most important to gallery sales.

 

 

Based on Artsy survey responses.

For 59% of respondents, non-figurative paintings (which includes abstract painting, as well as associated genres such as minimalist painting, spiritual abstraction, and neo–abstract expressionism) were selected as most important to their business now. In contrast, 45% of galleries ranked figurative painting highest.

2. Online sales are a key revenue driver for primary- and secondary-market galleries.

 

 

Based on Artsy survey responses.

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Although the physical art world has largely returned to its pre-pandemic state—more than 300 art fairs took place in 2022, and international travel is largely unrestricted now—our survey of galleries this year shows that online sales are still growing or stable. This year, when asked about the volume of online sales in 2022 compared to 2021, the largest group of respondents (38%) said that their sales volume increased, while another 34% said it remained consistent.

3. Inflation has unexpectedly led galleries to increase artwork prices.

 

 

Based on Artsy survey responses.

Inflation was chosen as the most influential factor in setting art prices by 41% of respondents. This is not surprising, given that many businesses across industries have had to adjust their pricing strategies accordingly. However, many gallerists did not expect for inflation to directly impact artwork prices: In Artsy’s 2022 Gallery Insights Report, 44% of respondents stated that they did not intend to increase their artwork prices due to inflation.

4. Younger, social media–savvy galleries are charting their own path.

 

 

Based on Artsy survey responses.

Compared to their more established counterparts, galleries that have been in business for less than three years are selling a higher share of art to younger collectors, and reaching these collectors in different ways.

5. Most galleries are discovering new artists through other artists.

 

 

Based on Artsy survey responses.

For artists and gallerists, networking pays off: More than half (51%) of respondents discover the artists they go on to work with through other artists.

Methodology

The Art Industry Trends Report was developed through an online survey that ran from March 2023 to April 2023, with responses from 886 gallery professionals and dealers that are both partners and non-partners of Artsy.

The majority of participants (41%) are based in the U.S., followed by the U.K. (7%). Some 20% have been in business for less than three years, 38% have been in business for between three and 15 years, and 42% have been in business for more than 15 years. Some 70% of respondents have a permanent, physical location.

Thank you

This report would not have been possible without the gallerists, art dealers, and other art world professionals who took the time to share their thoughts in our survey. We would like to express our gratitude, and hope that this report serves you well.

Learn more about becoming an Artsy gallery partner through visiting partners.artsy.net.

Arun Kakar

Arun Kakar is Artsy’s Art Market Editor.

Josie Thaddeus-Johns

Josie Thaddeus-Johns is an Editor at Artsy.

 

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Calvin Lucyshyn: Vancouver Island Art Dealer Faces Fraud Charges After Police Seize Millions in Artwork

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1 day ago

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September 13, 2024

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In a case that has sent shockwaves through the Vancouver Island art community, a local art dealer has been charged with one count of fraud over $5,000. Calvin Lucyshyn, the former operator of the now-closed Winchester Galleries in Oak Bay, faces the charge after police seized hundreds of artworks, valued in the tens of millions of dollars, from various storage sites in the Greater Victoria area.

Alleged Fraud Scheme

Police allege that Lucyshyn had been taking valuable art from members of the public under the guise of appraising or consigning the pieces for sale, only to cut off all communication with the owners. This investigation began in April 2022, when police received a complaint from an individual who had provided four paintings to Lucyshyn, including three works by renowned British Columbia artist Emily Carr, and had not received any updates on their sale.

Further investigation by the Saanich Police Department revealed that this was not an isolated incident. Detectives found other alleged victims who had similar experiences with Winchester Galleries, leading police to execute search warrants at three separate storage locations across Greater Victoria.

Massive Seizure of Artworks

In what has become one of the largest art fraud investigations in recent Canadian history, authorities seized approximately 1,100 pieces of art, including more than 600 pieces from a storage site in Saanich, over 300 in Langford, and more than 100 in Oak Bay. Some of the more valuable pieces, according to police, were estimated to be worth $85,000 each.

Lucyshyn was arrested on April 21, 2022, but was later released from custody. In May 2024, a fraud charge was formally laid against him.

Artwork Returned, but Some Remain Unclaimed

In a statement released on Monday, the Saanich Police Department confirmed that 1,050 of the seized artworks have been returned to their rightful owners. However, several pieces remain unclaimed, and police continue their efforts to track down the owners of these works.

Court Proceedings Ongoing

The criminal charge against Lucyshyn has not yet been tested in court, and he has publicly stated his intention to defend himself against any pending allegations. His next court appearance is scheduled for September 10, 2024.

Impact on the Local Art Community

The news of Lucyshyn’s alleged fraud has deeply affected Vancouver Island’s art community, particularly collectors, galleries, and artists who may have been impacted by the gallery’s operations. With high-value pieces from artists like Emily Carr involved, the case underscores the vulnerabilities that can exist in art transactions.

For many art collectors, the investigation has raised concerns about the potential for fraud in the art world, particularly when it comes to dealing with private galleries and dealers. The seizure of such a vast collection of artworks has also led to questions about the management and oversight of valuable art pieces, as well as the importance of transparency and trust in the industry.

As the case continues to unfold in court, it will likely serve as a cautionary tale for collectors and galleries alike, highlighting the need for due diligence in the sale and appraisal of high-value artworks.

While much of the seized artwork has been returned, the full scale of the alleged fraud is still being unraveled. Lucyshyn’s upcoming court appearances will be closely watched, not only by the legal community but also by the wider art world, as it navigates the fallout from one of Canada’s most significant art fraud cases in recent memory.

Art collectors and individuals who believe they may have been affected by this case are encouraged to contact the Saanich Police Department to inquire about any unclaimed pieces. Additionally, the case serves as a reminder for anyone involved in high-value art transactions to work with reputable dealers and to keep thorough documentation of all transactions.

As with any investment, whether in art or other ventures, it is crucial to be cautious and informed. Art fraud can devastate personal collections and finances, but by taking steps to verify authenticity, provenance, and the reputation of dealers, collectors can help safeguard their valuable pieces.

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Ukrainian sells art in Essex while stuck in a warzone – BBC.com

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2 weeks ago

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September 2, 2024

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Ukrainian sells art in Essex while stuck in a warzone  BBC.com

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Somerset House Fire: Courtauld Gallery Reopens, Rest of Landmark Closed

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4 weeks ago

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August 18, 2024

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The Courtauld Gallery at Somerset House has reopened its doors to the public after a fire swept through the historic building in central London. While the gallery has resumed operations, the rest of the iconic site remains closed “until further notice.”

On Saturday, approximately 125 firefighters were called to the scene to battle the blaze, which sent smoke billowing across the city. Fortunately, the fire occurred in a part of the building not housing valuable artworks, and no injuries were reported. Authorities are still investigating the cause of the fire.

Despite the disruption, art lovers queued outside the gallery before it reopened at 10:00 BST on Sunday. One visitor expressed his relief, saying, “I was sad to see the fire, but I’m relieved the art is safe.”

The Clark family, visiting London from Washington state, USA, had a unique perspective on the incident. While sightseeing on the London Eye, they watched as firefighters tackled the flames. Paul Clark, accompanied by his wife Jiorgia and their four children, shared their concern for the safety of the artwork inside Somerset House. “It was sad to see,” Mr. Clark told the BBC. As a fan of Vincent Van Gogh, he was particularly relieved to learn that the painter’s famous Self-Portrait with Bandaged Ear had not been affected by the fire.

Blaze in the West Wing

The fire broke out around midday on Saturday in the west wing of Somerset House, a section of the building primarily used for offices and storage. Jonathan Reekie, director of Somerset House Trust, assured the public that “no valuable artefacts or artworks” were located in that part of the building. By Sunday, fire engines were still stationed outside as investigations into the fire’s origin continued.

About Somerset House

Located on the Strand in central London, Somerset House is a prominent arts venue with a rich history dating back to the Georgian era. Built on the site of a former Tudor palace, the complex is known for its iconic courtyard and is home to the Courtauld Gallery. The gallery houses a prestigious collection from the Samuel Courtauld Trust, showcasing masterpieces from the Middle Ages to the 20th century. Among the notable works are pieces by impressionist legends such as Edouard Manet, Claude Monet, Paul Cézanne, and Vincent Van Gogh.

Somerset House regularly hosts cultural exhibitions and public events, including its popular winter ice skating sessions in the courtyard. However, for now, the venue remains partially closed as authorities ensure the safety of the site following the fire.

Art lovers and the Somerset House community can take solace in knowing that the invaluable collection remains unharmed, and the Courtauld Gallery continues to welcome visitors, offering a reprieve amid the disruption.

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