Speaker(s): Madelaine D'Angelo, Thomas Galbraith, Michael Phillips Moskowitz
Looking Ahead: The Future of the Contemporary Art Market
According to a recent survey by Deloitte in 2017, 78% of wealth managers believe that art should be part of a wealth management offering.
The contemporary art market is a rapidly growing industry with immense potential. In recent years, collector behaviour has become increasingly important in this market, as collectors are seen as the primary drivers of value. This trend is only likely to continue in the future, as the contemporary art market becomes more globalized and interconnected. Another reason for continued growth is the increasing number of wealthy individuals who are buying art as an alternative asset. Art is increasingly being seen as an alternative asset, providing investors with an opportunity to diversify their portfolios.
The contemporary art market is ever-evolving, with new artists and styles constantly emerging. This is likely to lead to increased demand for contemporary art, as investors seek to capitalize on the unique benefits that this asset class offers. These collectors are often more interested in the rarity and uniqueness of a work of art than its market value. As a result, they are willing to pay high prices for pieces that they deem to be valuable.
In addition, contemporary art is becoming more popular among a wider range of people. As more people are exposed to contemporary art, they are likely to develop an interest in collecting it. This increased demand will likely continue to drive up prices and support the growth of the contemporary art market.
Panel Discussion: Madelaine D'Angelo, Thomas Galbraith and Michael Phillips Moskowitz
Join art market experts Madelaine D'Angelo, Founder of Arthena; Thomas Galbraith, former partner at The Petraeus Group; and Michael Phillips Moskowitz, EIC at Harvard Kennedy School, as they discuss the future of the contemporary art market, with a focus on collector behaviour and art as an alternative asset.
A specialist in the intersection of fine art and technology, data analysis of the global art market, and collector behavior, Madelaine founded Arthena to bridge the gap between art advisors and the next generation of great collectors. Her expertise is honed from a multitude of art institutions such as the Peggy Guggenheim Collection, the Museum of Fine Arts in Boston, and the Smithsonian. At...
Thomas Galbraith is a Partner at The Petraeus Group, where he consults with start-ups and companies in the luxury and art markets, advising on growth strategies. He was previously Managing Director at Paddle8, responsible for managing Paddle8’s worldwide sales operations. Thomas has deep experience in the online art landscape, among other positions, having worked at artnet AG serving as...
Michael Phillips Moskowitz
Michael Phillips Moskowitz is currently an Entrepreneurship Fellow at Harvard’s Kennedy School of Government. He was formerly an Executive-in-Residence at Foundation Capital, and eBay’s Global Chief Curator, a position created following the 2013 acquisition of the startup he founded, Bureau of Trade.
Moskowitz has been named one of the Top 100 Creatives in Business by Fast...