Young Artists Rode a $712 Million Boom. Then Came the Bust.
This is what happens when art is treated as an investment. Or a trend/fad.
The irony for me is that, even with the market value drop for these artists, they're still raking in a hell of a lot more money than I can even dream of getting for my art. I'm exceedingly lucky if I can sell a painting for 350 bucks, but lucky enough to sell something for roughly 100, but usually LESS.
"The art market has been experiencing a downturn for the last few years, but the slump has been particularly acute for young artists. During the early pandemic, a speculative boom driven by a misplaced belief in quick returns set in, with collectors spending $712 million at auction in 2021 on works by artists born after 1974 — a giant leap from the $259 million buyers spent just a year earlier. "
@MariaAragon64 When I watch Antiques Roadshow it seems much art/collectibles cratered in value after 2008. I'm not aware enough of the market to know if there's been any general recovery