New Models in the Art World
The pandemic has accelerated a number of trends in the art industry, from purchasing pieces online to relocating shops in locations that have traditionally been unsuccessful. In today’s episode of The Yield, Yieldstreet x Athena Art Finance’s Naomi Baigell, MD – Client Relations & Marketing, along with Jeremy Hodkin of The Canvas and Adrien Meyer, Chairman of Global Private Sales at Christie’s, discuss the evolution of the art market over the last few months and what to expect in the market during the fourth quarter of this most unusual year.Click here to subscribe and listen: https://podcasts.apple.com/us/podcast/the-yield/id1527659260Key Takeaways:[:50] A bird’s eye view of the art world during summer 2020. [3:00] Factors that have accelerated such meaningful change in the art world. [5:35] The pandemic resulted in a major breakdown of the traditional calendar — do specific buying events throughout the year actually need to take place? [9:14] How comfortable are clients really with buying art online? [13:00] Details about Christie’s successful private sales event, Dream Big.[16:42] The value of going where the clients are — an overview of the art mecca that has developed in the Hamptons. [20:45] Why are buyers engaging with the art market from their summer homes like never before?[25:15] Have demand and investments in art increased as the stock market and economy have become more volatile?[29:20] Should buyers expect lower estimates for upcoming auctions? [30:38] Why are there higher levels of interest in and purchases of pieces this year than ever before? [32:25] Understanding the motivation behind cross category collectors. [34:25] How might the art market end out an election year that is also combined with a pandemic? [36:00] Does Christie’s have an art loan department? And how do Christie’s and Athena collaborate to bring art to their clients?[38:12] What support could the wealth management industry provide for art world professionals while providing value to clients? [39:50] How will AGP compete with Christie’s moving forward? A look at the standard practices of auction houses and galleries. [43:33] Does Athena loan internationally? Is there a minimum and maximum loan size? [44:10] The value of rare and precious things in times of uncertainty.Mentioned in This Episode:YieldstreetAthena Art FinanceChristie’s Global Private SalesThe CanvasDream Big