British Analytics company has shared predictions how will the art market in the next decade

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on 19 June, the ArtTactic brought together professionals of art-рынка at an extraordinary webinar on results of the first half — 2020. In particular, the head of the company Anders Pettersson has offered its own Outlook for the market in the next 10 years since the end of the pandemic. The main directions of development was called with just three — in our treatment, we offer them for your consideration:

1. The development of databases

Since its introduction statistical data on the art market is served exclusively sale: reports of auctions, price indices and the different ratings were sent to the buyer. Evolution of information art-рынка was as follows:

• auction results (Artnet, Artprice) — the late 1980-х;

• exhibition-маркетинговая activity (ArtFacts) — 2004;

• Analytics based on surveys and ratings (ArtTactic) — 2004;

• online-платформы sales of art, information about the buyer's behaviour on the Internet (Artsy) — 2009;

• social network information about social behavior (Instagram) — 2010;

• evaluation of the private market, the information collected in artificial intelligence (Wondeur, ArtBnk) — 2019;

• online-кабинеты galleries, private information about customers — 2020.

As you can see, 2009 and 2019 (platform created by the direct functionaries of the art-рынка. — AI.) parts for ten years. In other words, after the example of Artsy and similar business-моделей market realized that the buyers are not willing to massively purchase art online, he loosened his grip and stopped forming technology in favor of physical fairs and private sales. This new generation of collectors coming into the art market and insufficient information about the transactions (recall that in the last 10 years, the volume of the non-public market, according to various estimates, ranged from 52 % to 64% of the global art-рынка. — AI.), often held from buying for this reason.

Pandemic coronavirus and the subsequent quarantine have intensified the need for information transparency of the art market — constrained evolution has replaced the need for revolution. Two key functions of information, according to ArtTactic, — is to ensure price transparency and ease to the purchaser subsequent decision-making. With the growth of knowledge about the subject of art, a full evaluation will be faster, and the accuracy of forecasts of the potential risks — above, moreover, according to Pettersson, both from the point of view of market value and artistic value. This is especially true of art in the primary market value of less than $50 thousand in private sector the number of sales in 2019 amounted to 84 % of all transactions (data Art Basel & UBS Report 2020. — AI.). Accordingly, the buyer in this price range have twice as hard: he has to trust price, called the gallery, and be sure that the career of an artist (usually young) this gallery is supported in a sufficient development amount.

2. Online-экспансия

the Last four months of mass transferred of art sellers in the Internet-среду, and initially each found a separate niche:

• the fair went online-режим,becoming like one another;

• the gallery has mastered virtual reality for a more favorable exposure art and brought together the collector with the artist through workshops on digitization technology 3D-view. Large gallery announced the development of a virtual residence for artists and provided their own websites for small galleries with a view to their support (or rather, to preserve in the regions of a class of young collectors. — AI.);

• auction houses have offered mixed trades different price categories and styles of art, often uniting in the same directory as artwork and luxury items. Increased the number of safeguards that auctions attract sellers (or rather, seeking to redeem items in the event of a failed sale, being confident in future growth and earnings. — AI.). With all the Internet-условности centers auction market remain new-Йорк, London and Hong Kong auction, titled these cities are the most successful. ArtTactic believes that the logistics factor is secondary here (the seller and the buyer are in the same country. — AI.), and most importantly — prestige place, affecting the value of the work.

In June, the situation with online-продажами began to undergo obvious changes: fairs and auctions that previously had clear annual graphics, not layered on top of each other, are often held simultaneously, and attention buyer — to dissipate between them. Is redefining the gallery space: a gallery mode go to the "art-дилер with a virtual office and warehouse-шоурумом" in the London gallery have come together in coworking with showrooms, sharing the joint costs (as here not remember the project Cube.Moscow: is his patron, the Swiss collector Uli Sigg, predicting the future? — AI.). The final phrase ArtTactic on the second point: "Global sales shift to the local, with a focus on national markets for artists and collectors — but with an expanded digital presence."

3. Work with a new generation of buyers

has come True: the art market has officially recognized a new generation of receiving the letter Z. Celebrating the age of majority and became participants in the mass market by 2019, the adherents of digital technologies, prefer to work and shop from home, ideally adapted to the quarantine. What motivates new potential collectors, according to research by ArtTactic? First of all, the possibility of active participation in the processes: "buzzer" is not a consumer, and a full-fledged Creator of; not a patron and active promoter. Anders Pettersson lucidly explained how this will look in practice in the next decade:

• "from the gallery — to the production Agency": generation Z wants to be more involved in the development of the artists whose work they buy. Accordingly, it will make the gallery more open in terms of methods of career advancement;

• "from auctions — to limited proposals": the purchase of art generation Z perceives as a game, so the traditional model of auctions — with a long period between the publication of the catalogue, bidding — is not for him. Young buyers are accustomed to the unexpected formatlimited supply, when there is the opportunity to purchase a desirable object is not only cheaper, but also faster than the others (where-то like we watched the last couple of months, isn't it? — AI.), by analogy with Boxing Day in the United States (eng. Boxing Day). Today, this platform has already created a company Otis and offers it products from Kaws sculptures to limited edition sneakers;

• "from philanthropy (altruism) — to social investing": according to gen Z, any philanthropy should be beneficial. Support the arts, for example, should aim to increase social status. But, in contrast with the habits of previous generations, social status is not converted directly into money — first of all, it provides new contacts with like-minded;

• "from art-фондов — to ownership": for the Z generation characteristic habits, such as barter (AirBnb) or joint management (Splitwise). That is why the possession of objects of art young collectors are more willing to engage in shared (joint) ownership of the work, as well as easily rent it for a while (for example Acute Art with sculptures of KAWS and Olafur Eliasson). This may also include the rethinking of the format of the art: in the new world it doesn't have to be a physical — digital art is easier to share, and to contain and transport: in the cloud, the blockchain or on a flash drive.

On the role of technology in the development of the art market, see the interview with Anders Petterson for AI in the near future.

Denis Belkevich, AI