FUELARTS in collaboration with THE ART PARTNERS has published a guide containing recommendations on building contemporary art collections in an economically turbulent and politically difficult climate.
This press release was originally distributed by ReleaseWire
New York, NY – (ReleaseWire) – 10/13/2022 – ART COLLECTORS FIELD GUIDE by FUELARTS & THE ART PARTNERS
focuses on the main challenges for art collecting in the second half of 2022. It provides collectors with the necessary data and key facts, giving a clear picture of the current market.
Through an in-depth historical review, this guide explores the crises, epidemics and wars of the art market retrospective. It gives an answer on how to build a digital art collection during a bear market. The authors of the guide offer do’s and don’ts in art collecting today for both physical and digital art, trying to unite and establish communication between these two different groups of collectors. In addition, the guide’s predictions of the future of art collecting will be useful to professionals in the art market.
In addition to analysis, the guide includes interviews with key industry leaders. Among them: Abraham Post – collector, investor and founder of Visual Capital, Auronda Scalera and Alfredo Cramerotti – the founders of XXNFT (art conservation, collection management and publishing company).
Denis Belkevich, General Partner of FUELARTS: “Now that we are facing many external threats – an economic recession, political turmoil and the consequences of the pandemic – we, Fuelarts, have decided to make our best contribution by providing information useful in the Art Market. This guide provides collectors with facts and figures, enabling them to make thoughtful and forward-looking decisions in their art collecting journey.”
Maria Korolevskaya, co-founder and director of ART PARTNERS: “There is a certain misalignment or blind ignorance between market players operating in the world of physical and digital art when it is actually time to build In my opinion, we need to collaborate and coordinate our efforts to build a new ecosystem and Art-Tech is clearly capable of offering much more than NFTs.The art world is one of the last industries that is only just beginning to be disrupted by digitization and innovative technologies and it is exciting to witness this process leading us into the future”.
Key findings from the Art Collectors Field Guide:
– Art is a vessel that transports your capital in times of crisis. However, it is essential to complete it at the right time and in the right way.
– There has been an outflow of capital from the art market in previous recessions which has affected sales amounts – on average they have fallen by 20% from their pre-crisis peaks (data for 29 economic crises from 1875 to 2020).
– The art market also showed negative price dynamics: the average cost of works by all artists on sale during the recession decreased by an average of 0.7%.
– After a period of depression, growth in the overall market was followed by a recovery in Art Market indicators — in 90% of cases more than pre-crisis sales.
– In other words, the Art market does not fall in times of economic crisis – the purchasing power of the majority of players falls.
– Lots sold in the price range between $100,000 and $1 million become leaders in terms of market stability during crises.
– Auction houses function as market regulators: they considerably reduce the number of works put up for auction during the second year of the crisis with an average estimate above 10 million dollars — the amount of sales decreases, but the percentage of lots sold remains around the average throughout the years.
– Physical art collectors should constantly gather information during an economic downturn. The prices of some works of art could drop significantly during the recession. This is particularly true for the contemporary art market. Art dealers and galleries constantly monitor this market.
– Collectors, who buy digital art (including NFT), 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.
– Faced with the bear market, it is not enough to unite on the different aspects of modern culture, separating physical and digital art. Only by recognizing that the art world (with the market) is united can we together overcome the consequences of the current recession and move forward towards innovation.
FUELARTS is an investment company specializing in the Art+Tech industry. Its mission is to support the development of the emerging Web3 ecosystem, supporting bold entrepreneurs, while building 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. FUELARTS’ vision is to become not just an investment vehicle but a platform, merging art and capital. FUELARTS includes 3 main structures:
– FUELARTS ACCELERATOR provides tools to support the founders of Art+Tech startups.
– FUELARTS INSIGHTS shares content and analysis to engage and grow the Art+Tech community.
– FUELARTS CAPITAL is a venture capital arm, investing in accelerator graduates and infrastructure leaders.
With the scale of its operations and the expansion of its reach, FUELARTS has a diverse international team of professionals in the art market, public relations, venture capital and blockchain and NFT . The team includes experts from the United States, China, France, Switzerland, Ukraine and Ecuador. Starting in 2023, FUELARTS’ goal is to become a venture capital firm builder, helping startups in the NFT and blockchain space build a business model that can change direction as market demands change. 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 to actively participate in the dynamic and international artistic world.
The Art Partners was founded in 2015 to meet the needs of budding and established art collectors. Based in London, Art Partners also operates in Paris, Geneva, New York and Los Angeles. Art Partners aims to take individuals on an inspiring journey with the contemporary art world and serves to develop a mutually valued and lasting relationship. The Art Partners advises and provides flexible solutions and personalized approaches to each individual client, including companies.
Download your copy here – https://bit.ly/3C6P4IZ
Watch the online presentation of the Guide – https://youtu.be/C4Eo0ijbCL8
Follow FUELARTS social networks – https://linktr.ee/fuelarts
Follow The Art Partners – https://www.instagram.com/theartpartners/ & https://www.linkedin.com/company/the-art-partners/
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