Women artists, photography, prints and vintage posters are all potential growth areas in the art market to watch, according to Barnebys, the worlds largest auction search engine, as it launches its 2018 Art Market Report today.
Titled Tomorrow - the view from today, the search engine’s report mines data from over 65 million lots sold at auction by more than 3,000 auction houses globally, as well as almost 16.4 million user sessions relating to nearly 5 million items coming up for sale.
Barnebys’ co-founder and head of content Pontus Silfverstolpe - a leading authority on the art and antiques market in his native Sweden - made the predictions after noting significant growth in auction sales within certain price ranges, combined with demographic profiles of the search engine’s users, which point to new audiences joining what has largely been an art, antiques and collectibles market until now.
“We observe the rising importance of women artists”, says Silfverstolpe. “History offered fewer opportunities for women to dedicate their lives to careers in art and design, so there is simply less art by recognised female talent around, with the result that the market for art by women has traditionally been far less developed than that by men.” But this is changing now.
He identifies the following women artists to keep track of - Jenny Saville, Cecily Brown, Georgia O’Keeffe, Joan Mitchell, Nathalie Djurberg, Petra Cortright, Cady Noland, Agnes Martin, Laura Owens, Yayoi Kusama, Njideka Akunyili Crosby and Barbara Kreuger.
“Much more focus is now rightly being given to female talent that has either been unsung or overshadowed for political and social reasons in the past. Just look at the profile now being given to the likes of Frida Kahlo in London and Mary Cassatt in Paris in major retrospectives; this attention will filter through to the market and sales online will flourish as buyers try to snap up the best art by women before prices rocket.”
Silfverstolpe also identifies photography, prints and vintage posters as the front-runner for growing interest and investment. Images like the ones below of Bowie, Marilyn Monroe and Faye Dunaway are increasingly collectable.
“All of these fields have growing prices, but still offer a lot of bang for your money at the lower end, with starting prices at under ??100 - the level that these buyers are already spending at. Visually, these types of collectibles have instant appeal and also crossover appeal, attracting everyone from home decorators to those with an interest in graphic design, as well as specialist areas like history, entertainment and travel.
“This exactly matches the profile of many of our typical users across the various markets we focus on. All these factors point to powerful growth potential.”
”We see that many people want art from names such as Picasso, Koons and Banksy, three of the most common keywords in Barnebys´s search engine. These are artists whom they know and whose art they have seen, but whose original paintings they cannot afford. Yet.”
Silfverstolpe also sees these collecting fields as paths to greater investment in art and collectibles as buyers grow in confidence and are prepared to commit more money to each purchase.
“As that interest and commitment grows, so theystart to look around further and notice more expensive items that attract their interest, such as drawings, paintings and designer furniture. This is how markets develop. If the skill, artistic inspiration and accomplished craftsmanship is there, you will attract buyers.”
Image: Cecily Brown - The Girl Who Had Everything - Sold for £1.2m.