New York, NY -- (ReleaseWire) -- 10/13/2022 --ART COLLECTORS' FIELD GUIDE by FUELARTS & THE ART PARTNERS
focuses on the main challenges of art collecting in H2 2022. It provides collectors with necessary data and key facts, giving a clear picture of today's market.
Through a deep historical review, this guide explores crises, epidemics, and wars from the art market retrospective. It gives an answer on how to build a digital art collection during a bear market. The guide's authors offer do's and don'ts in art collecting today for both physical and digital art, trying to unite and build communication between these two different groups of collectors. Besides, the guide's forecast on the future of art collecting will be helpful for art market professionals.
Along with analytics, the guide includes interviews with key industry leaders. Among them: Abraham Post - a collector, investor, and founder of Visual Capital, Auronda Scalera and Alfredo Cramerotti - the founders of XXNFT (art curating, collection management & publishing business).
, General Partner at FUELARTS: "Now that we are facing numerous external threats - an economic recession, political turbulence, and consequences of the pandemic - we, Fuelarts, have decided to make our best contribution by providing useful information on the Art Market. This guide equips collectors with facts and figures, allowing them to make thoughtful and forward-looking decisions in their art collecting journey."
, Co-Founder and director of the ART PARTNERS: "There is a certain misalignment or blind ignorance happening between the market players operating in the physical and digital art world when it is actually the time to build bridges. In my opinion, we must collaborate and coordinate our efforts in building a new ecosystem and Art-Tech is clearly capable of offering much more than just NFTs. The art world is one of the last industries only starting to be disrupted by digitalization and innovative technologies and it's exciting to witness this process leading us to the future".
Key findings of the Art Collectors' Field Guide:
- Art is a vessel, carrying your capital through times of crisis. However, it is pivotal to fill it in at the right time and in the right way.
- There was an outflow of capital from the Art market during previous recessions that affected sales amounts — on average, they decreased by 20% from their pre-crisis peaks (data for 29 economic crises from 1875 to 2020).
- Art market also showed negative price dynamics: the average cost of the works of all artists on sale during the recession decreased by an average of 0.7%.
- After a period of depression, the growth of the overall market was followed by recovery of indicators of the Art Market — in 90% of cases more than pre-crisis sales.
- In other words, the Art market does not fall during periods of economic crisis — the purchasing power of the majority of players falls.
- Lots sold in the price range between $100,000-$1 million become leaders in terms of stability in the market during crises.
- Auction houses operate as market regulators: they significantly reduce the number of works put up for auction during the second year of a crisis with an average estimate exceeding $10 million — the amount of sales decreases, but the percentage of lots sold stays around average throughout the years.
- Collectors of physical art should constantly gather information during an economic downturn. Prices for some artworks might significantly fall during the recession. This is especially true for the market of contemporary art. Art dealers and galleries constantly monitor this market.
- Collectors, who buy digital art (including NFTs), provide their money for the work of artists, curators, and art historians. Overall, this contributes to the development of this field. In these cases, the terms Strategic Investment, or Investment in the future of the market can be applied.
- When facing the bear market, it is not enough to unite on different sides of modern culture, separating physical and digital art. Only by recognizing that the world of art (together with the market) is united, together we can overcome the consequences of the current recession and move toward innovation.
FUELARTS is an investment firm, specializing in the Art+Tech industry. Its mission is to support the development of the emerging Web3 ecosystem, backing daring entrepreneurs, while they build a more efficient, transparent, and accessible Art market. In 2019 FUELARTS was founded by serial entrepreneur Denis Belkevich and former COO of Christie's Americas, ex-Senior VP of Artnet Roxanna Zarnegar. The vision of FUELARTS is to become not only an investment vehicle but a platform, merging art and capital. FUELARTS includes 3 main structures:
- FUELARTS ACCELERATOR provides tools to support founders of Art+Tech startups.
- FUELARTS INSIGHTS shares content & analytics to engage and develop the Art+Tech community.
- FUELARTS CAPITAL is a venture arm, investing in accelerator's graduates and infrastructure leaders.
With scaling its operations and expanding its reach, FUELARTS has a diverse international team of Art Market, Public relations, Venture capital, and Blockchain & NFT professionals. The team includes experts from the United States, China, France, Switzerland, Ukraine, and Ecuador. From 2023, the objective of FUELARTS is to become a VC company builder, helping startups in the NFT and blockchain space to build a business model that can shift focus as demands in the market change.
THE ART PARTNERS is an art office for a new generation of international collectors. Its mission is to build bridges and create a dialogue between different cultures and actively participate in the dynamic and international art world.
The Art Partners was founded in 2015 to serve the needs of aspiring and established art collectors. Based in London, Art Partners also operates in Paris, Geneva, New York, and Los Angeles. Art Partners aims to bring individuals on an inspiring journey with the contemporary art world and serves to develop a mutually valued and long-lasting relationship. The Art Partners advises and provides flexible solutions and personalized approaches to each individual client, including corporations.
Download your copy here - https://bit.ly/3C6P4IZ
Watch the Guide online presentation - https://youtu.be/C4Eo0ijbCL8
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