Market Rebound
A recent report by Bain & Company and Altagamma highlights a strong rebound in the luxury sector, with art sales experiencing significant growth in 2023. The report notes that the global luxury market is projected to reach €1.5 trillion, driven by rising demand from affluent consumers, particularly in Asia and the U.S. The art market specifically saw a surge, with high-value sales leading the charge. The report emphasizes the increasing importance of sustainability and digital engagement among luxury buyers, shaping future trends in the art and collectibles space.
GAMG Newsletter
Christie’s first 21st Century Day Sale in Hong Kong saw disappointing results, totaling around $8.5 million, below expectations. While some notable artworks received strong bids, many pieces failed to meet their reserve prices, indicating a lackluster market response. The turnout was minimal, reflecting cautious sentiment among collectors. Economic uncertainties and shifting preferences may have contributed to this tepid atmosphere. Despite these challenges, Christie’s remains committed to showcasing significant works and attracting interest in future sales as the contemporary art market continues to evolve in Hong Kong.
Who Are Today's Most Bankable Artists?
A recent analysis reveals today's most bankable artists in the contemporary market, highlighting figures like Kaws and Banksy, known for their high auction prices. It emphasizes the rise of emerging talents with upward sales trajectories and the impact of social media on visibility and marketability. The data underscores a dynamic art landscape where both established and new artists can achieve significant financial success.
Untited (Yelow, Orange, Yelow, Light Orange) (1955) Self-Portrat
COURTESY AFP VIA GETTY IMAGES
Queen Elizabeth I’s Portrait
The "Rainbow Portrait" of Queen Elizabeth I is an iconic piece of history, depicting Elizabeth in her youth despite being painted when she was 70 years old. It is believed to be one of the final depictions of Queen Elizabeth I as it was painted between 1600 and 1603, with her death following shortly in 1603. The painting alludes to the queen as the sun, acting as a source of light, wisdom, and peace. It underwent meticulous conservation but has now returned to Hatfield House, next to the queen ' s childhood home in Hertfordshire, where it is the star of their collection.
The Atlanta Art Fair
From October 3 - 6, Atlanta will be hosting its first-ever art fair!
This not only provides an opportunity for Atlanta artists and galleries to showcase their work but proves that Atlanta plays a vital role in the contemporary art scene. The fair, run by Art Market Productions (AMP), will host about 60 galleries,25% of which are local to Atlanta. This fair aims to amplify local voices from Atlanta and the American South, so definitely stop by Pullman Yards for a first look!
The Princess and the Van Gogh
At the inaugural 20th/21st Century sale at Christie's new Hong Kong HQ, a Vincent Van Gogh will be put on the auction block, expected to bring in $50 million. This 1887 piece, Les canots amarrés (The Moored Boats), is owned by Princess Camilla of Bourbon Two Sicilies. The princess decided to sell this beautiful and historic piece in Hong Kong because she was excited by "the rapidly growing and dynamic Asian art market."
Moo Deng’s Place in Art History
If you frequent TikTok or Instagram, you ' ve likely seen Moo Deng's life being streamed from a zoo in Thailand for the whole world to see. You may be wondering what a baby hippo has to do with art, but a rich history of hippos appears in art. These "river horses," as the ancient Greeks called them, have appeared in art from many cultures and periods. Jeff Koons has a mirror in the shape of a hippo, Peter Paul Rubens painted a fantastical, exotic, violent scene of a hippo and crocodile hunt, and Ancient Greeks painted hippos on ceramics. Don't worry, hippomania is not over yet.
About Us...
The Guild aims to foster an inclusive community of individuals at Goizueta Business School who share an interest in art, the art market, and their intersection with business. The Guild hopes to provide opportunities for learning, networking, and engaging in discussions related to art markets, art investment, entrepreneurship in the art world, and the broader creative economy.
The GAMG Monthly Newsletter is written and composed by Jainee Shah (BBA25) and Sammi Friedman (C26), 2024-2025 GAMG Newsletter Editors
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Anselm Kefer
Moo Deng, Peopes Magazne
Les Canots Amarrés by Vicent Van Gogh5