The Artprice by Artmarket 2019 report claims the art market’s price index posted a huge 22% increase in 2019 which makes traditional banking investments less enticing to active investors. Traditional investors are now turning to collecting as a lucrative modern alternative.
The report also states – “Driven by growing demand, the total volume of auction turnover generated by the Contemporary Art auction segment worldwide has doubled over the past decade with the recent figures showing strong sales right across the segment’s price spectrum.” Further reading can be found here https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2019
