A New Generation Strengthens Its Position On The Auction Market

Contrary to the crisis, the supply of works by young artists is not decreasing at all. There have never been such good times for young and new art. A large number of galleries (both physical and virtual) with a dense network around the world demonstrates this. Every year, more and more works of young creators are purchased. The newest art creations are attractive, not only because they appeal to the tastes of a wealthier audience but because it is a source of income as well. Year by year, people are more willing to buy works by young artists. Their work is in high demand because they allow art collectors and investors to make some profits out of it. Here, freshness and originality count. By imitating others, nobody can get far. It is about getting inspiration from others and not about imitating them. That is why young artists want to stand out and make investing in their work an intellectual and passionate adventure. Investing in young artists is also a great opportunity for a consistent contact with the art world, in which people choose to be themselves and, therefore, it makes them feel interconnected and part of something bigger than themselves. The source of emotions is certainly an observation of the fate of the artists whose works have entered people’s homes and aroused the imagination beyond the peculiar spectrum.

Investing in contemporary art is, on one hand, an opportunity to multiply capital and, on the other hand, a bit of a risky business. Many people do not have enough knowledge about art and its global market, and they shop accordingly to their taste. Unfortunately for them and according to that primal instinct, this does not seem to be profitable in the future. How to not get lost in art purchases then? The Internet offers many opportunities to get acquainted with the works of a given artist. Before any purchase, we should check the sales history of the artist’s works on the market. It can be traced through public reports on auction houses’ websites, in the auction yearbooks, or on the publicly decentralised blockchain technology ledger such as OpenSea Rankings. It is also worth getting acquainted with the information on the history of artworks’ trades, starting from their creation. The fact that those traces are embedded in the artist’s real achievements allows us to know the actual market value of the work. The trend of strengthening and growing this segment of the art market results, among other things, is seen as its investment potential. Currently, there is a significant increase in value in the contemporary art market, and the newest art speaks of the great potential of multiplying value while limiting the risk to decrease due to the already established position and reputation of artists.

In addition, the work of a new generation of artists looks promising. Nowadays, it is hard to find dominant currents or leaders followed by others. Everyone is looking for their way, niche, a form of expression. Young artists realise that if they want to appear on the serious art market, they have to build their artistic personality from the very beginning. In this situation, the creators of the new generation turned to the web. Young artists feel at ease on the Internet. They know how to promote their work on social networks. Some people gain worldwide fame in this way. With larger investments, apart from the artist’s self-creation, objective factors such as cooperation with galleries, exhibitions, awards, etc. are also of great importance. In conclusion, young artists will more and more influence the shape of the art world, which is why it is so crucially important to pay attention to the new generation of artists. Also, the law of supply and demand works in the field of art too, no doubt about that. We simply have to look on the NFT art.