Black Girls in Art Spaces has expanded to more than two dozen chapters across the US and abroad in just two years
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Black Girls in Art Spaces has expanded to more than two dozen chapters across the US and abroad in just two years
Museums dedicated to Viking culture and artefacts are taking shape in two cities in Denmark and the Norwegian capital, Oslo
Bankruptcy trustees have proposed selling hundreds of works through the auction house, with hopes to recover up to $2m
The firm, which purchases, studies and promotes the work of under-recognised photographers, will stage a show of Fink's images at Paris Photo in November
BY ALBERT CHEN
Younger generations in Asia are increasingly shaping the art market, with millennials and Generation X collectors spending heavily on contemporary and digital art. According to CNBC, millennials and Gen X buyers are emerging as dominant forces in auction houses, driving a significant portion of sales across the region.
Nicolas Chow, Sotheby’s chairman for Asia, revealed that millennials account for over 40% of Sotheby’s contemporary art buyers in Asia. Meanwhile, Generation X collectors—those born between 1965 and 1980—have become the most significant spenders, particularly for pieces valued at over $1 million. Speaking to CNBC’s The Art of Appreciation, Chow noted, “What we’ve seen in 2023 is that Gen X dominates the market for high-value art.”
“Gen X dominates the market for high-value art”
Chow also mentioned that younger buyers from Generation Z are making their presence felt. He highlighted a recent example of a 20-year-old collector in Shanghai who purchased a piece to celebrate his graduation. CNBC writes that wealthy millennials in Asia spent a median of $59,785 on art and antiques in the first half of 2023, while for Gen Z, the figure stood at $56,000, according to the Art Basel & UBS Survey of Global Collecting 2023.
This growing interest is not limited to traditional art forms. CNBC reports that digital art, including AI-generated works and NFTs, is particularly appealing to younger buyers. At Christie’s Hong Kong spring season auction in 2023, millennials made up 43% of new buyers, reflecting the trend of younger collectors turning to auction houses rather than traditional galleries or dealers.
The global art market saw a slight decline in 2023, falling by 4% to approximately $65 billion, according to the Art Basel & UBS Art Market Report 2024. However, CNBC notes that sales in China bucked this trend, rising by 9%, which allowed China to overtake the United Kingdom as the world’s second-largest art market. Clare McAndrew, the founder of Arts Economics and the report’s author, attributed this growth to post-pandemic buying, as well as the resurgence of full-scale art fairs and exhibitions in Hong Kong.
Sotheby’s credits the rise in younger buyers to the increasing importance of online sales. CNBC reports that Sotheby’s enhanced its digital capabilities during the pandemic, making it easier for collectors to engage in live-streamed auctions, which attracted a wider audience. This shift has allowed the auction house to connect with buyers around the world.
For Angelle Siyang-Le, director of the Art Basel fair in Hong Kong, the rise of younger buyers also signals a broader interest in digital art forms. CNBC reports that Gen Z collectors have the highest average spending on digital art, which includes NFTs and AI-generated works, compared to other generations. Siyang-Le emphasized that digital art has evolved beyond photography and video, now encompassing more cutting-edge forms like NFTs and AI-generated pieces.
According to CNBC, the market for art-related NFTs saw $1.2 billion in sales in 2023, a significant drop from the $2.9 billion peak in 2021. However, this is still a notable increase from the $20 million recorded in 2020, showing the continued appeal of digital art.
Hong Kong-based artist Mak2 is among those at the forefront of blending traditional and digital art. CNBC highlights her work “You Better Watch Out,” a 2017 installation featuring an inflatable snow globe with floating QR codes that audiences could scan, reflecting on themes of surveillance and self-awareness in the digital age. At Art Basel Hong Kong in 2023, she exhibited her installation “Copy of Copy of Copy of Copy,” which draws on the aesthetics of the video game The Sims and explores digital identity.
Sotheby’s has adapted to this evolving market, expanding its offerings to include contemporary and digital art. CNBC reports that the auction house will open a new flagship “maison” in Hong Kong in July 2024, which will offer a wide range of items for purchase, including NFTs and other digital works. Chow explained that Sotheby’s has “opened the market to new experiences,” adding that its offerings now span from prehistoric artifacts to the latest in digital art.
As the art market continues to evolve, younger generations, especially in Asia, are set to play a pivotal role in shaping its future, with increasing investments in both contemporary and digital art.
Source: CNBC
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The World Art News (WAN) is not liable for the content of this publication. All statements and views expressed herein are opinions only. Act at your own risk. No part of this publication may be reproduced without written permission. © The World Art News
The post Younger Generations in Asia Are Spending Big on Contemporary and Digital Art appeared first on World Art News.
The residency, gallery and community hub is revitalising New Haven with an eye towards art-world equity
RX Japan is excited to announce the opening of visitor registration for the 12th International Jewellery Tokyo Autumn (IJT AUTUMN 2024), set to take place on October 23rd-25th at Pacifico Yokohama. This prestigious event, a highlight in the global jewellery industry calendar, will showcase around 810,000 exquisite jewellery items, including rare gemstones, coloured diamonds, pearls, luxury watches, and more.
The IJT AUTUMN 2024 is expected to attract over 15,000 visitors from around the world, making it one of the most significant gatherings of jewellery enthusiasts, social buyers, and industry professionals. With 430 leading exhibitors from Japan, Poland, Indonesia, Turkey, Thailand, China, Hong Kong, and South Korea, this year’s event will include a rich variety of products and opportunities for networking and business growth.
Special Global Showcase
This year’s IJT AUTUMN will present an opportunity for attendees to discover the latest trends, source new products, and build valuable connections within the global jewellery community. With previous numbers showing 72% domestic visitors, 18% international attendees and 10% social buyers, the event is truly a global platform where cultures and ideas converge.
Visitor demographics from previous years indicate that 44% of attendees are retailers, 19% are wholesalers, and 19% are designers, highlighting the event’s importance for both large and small businesses in the jewellery sector.
“As we prepare for IJT AUTUMN 2024, we are thrilled to welcome visitors from around the globe once again to experience the latest in jewellery design and innovation,” said Yoshihito Waki, Show Director of IJT AUTUMN 2024. “Expect this event to be on a different scale, with over 810,000 unique items on display, making it an opportunity for anyone involved in the jewellery industry. We encourage all professionals to register early to secure their place at this must-attend event.”
A Proven Track Record of Success
Last year’s IJT AUTUMN event attracted thousands of visitors and exhibitors, resulting in numerous business deals and partnerships. This year, with an anticipated increased participation and more products on display, IJT AUTUMN 2024 is expected to surpass previous success stories, making it a key date in the calendar for jewellery enthusiasts.
Visitor registration is now open, and early registration is encouraged to ensure a seamless entry to the event. Attendees can look forward to an immersive experience where they can explore a diverse array of jewellery from around the world, engage with industry experts, and discover the latest trends and innovations.
Register for IJT AUTUMN 2024 at https://bit.ly/4cZORbb
For more information, visit https://bit.ly/46feHpH
About IJT Series Shows
IJT is a trio of prestigious events occurring thrice each year (Tokyo in January, Kobe in May, and Yokohama in October). Celebrated for their exquisite assortment of diamonds, gemstones, and pearl jewellery, the IJT Series Shows offer a dynamic platform for industry professionals to connect, discover, and prosper.
About RX
RX is in the business of building businesses for individuals, communities, and organisations. We elevate the power of face-to-face events by combining data and digital products to help customers learn about markets, source products, and complete transactions at approximately 400 events in 22 countries across 42 industry sectors. RX is passionate about making a positive impact on society and is fully committed to creating an inclusive work environment for all our people. RX is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. Visit www.rxglobal.com
About RX Japan
RX Japan organises 90 exhibitions, composed of 372 sub-exhibitions, annually at large exhibition halls such as Tokyo Big Sight, Makuhari Messe, and Intext Osaka across a wide variety of 39 fields, including jewellery, fashion, gift items, electronics, energy, IT, cosmetics, and medical. Visit the RX Japan website for more details.
Also Read
Making Your Life Sparkle – Luxury Jewelry and Custom Design from JM Gems
Sponsored content. Story submitted by RX Global. The World Art News (WAN) is not liable for the content of this publication. All statements and views expressed herein are opinions only. Act at your own risk. No part of this publication may be reproduced without written permission. © The World Art News
The post RX Japan Opens Visitor Registration for the International Jewellery Tokyo Autumn Show appeared first on World Art News.
RX Japan is excited to announce the opening of visitor registration for the 12th International Jewellery Tokyo Autumn (IJT AUTUMN 2024), set to take place on October 23rd-25th at Pacifico Yokohama. This prestigious event, a highlight in the global jewellery industry calendar, will showcase around 810,000 exquisite jewellery items, including rare gemstones, coloured diamonds, pearls, luxury watches, and more.
The IJT AUTUMN 2024 is expected to attract over 15,000 visitors from around the world, making it one of the most significant gatherings of jewellery enthusiasts, social buyers, and industry professionals. With 430 leading exhibitors from Japan, Poland, Indonesia, Turkey, Thailand, China, Hong Kong, and South Korea, this year’s event will include a rich variety of products and opportunities for networking and business growth.
Special Global Showcase
This year’s IJT AUTUMN will present an opportunity for attendees to discover the latest trends, source new products, and build valuable connections within the global jewellery community. With previous numbers showing 72% domestic visitors, 18% international attendees and 10% social buyers, the event is truly a global platform where cultures and ideas converge.
Visitor demographics from previous years indicate that 44% of attendees are retailers, 19% are wholesalers, and 19% are designers, highlighting the event’s importance for both large and small businesses in the jewellery sector.
“As we prepare for IJT AUTUMN 2024, we are thrilled to welcome visitors from around the globe once again to experience the latest in jewellery design and innovation,” said Yoshihito Waki, Show Director of IJT AUTUMN 2024. “Expect this event to be on a different scale, with over 810,000 unique items on display, making it an opportunity for anyone involved in the jewellery industry. We encourage all professionals to register early to secure their place at this must-attend event.”
A Proven Track Record of Success
Last year’s IJT AUTUMN event attracted thousands of visitors and exhibitors, resulting in numerous business deals and partnerships. This year, with an anticipated increased participation and more products on display, IJT AUTUMN 2024 is expected to surpass previous success stories, making it a key date in the calendar for jewellery enthusiasts.
Visitor registration is now open, and early registration is encouraged to ensure a seamless entry to the event. Attendees can look forward to an immersive experience where they can explore a diverse array of jewellery from around the world, engage with industry experts, and discover the latest trends and innovations.
Register for IJT AUTUMN 2024 at https://bit.ly/4cZORbb
For more information, visit https://bit.ly/46feHpH
About IJT Series Shows
IJT is a trio of prestigious events occurring thrice each year (Tokyo in January, Kobe in May, and Yokohama in October). Celebrated for their exquisite assortment of diamonds, gemstones, and pearl jewellery, the IJT Series Shows offer a dynamic platform for industry professionals to connect, discover, and prosper.
About RX
RX is in the business of building businesses for individuals, communities, and organisations. We elevate the power of face-to-face events by combining data and digital products to help customers learn about markets, source products, and complete transactions at approximately 400 events in 22 countries across 42 industry sectors. RX is passionate about making a positive impact on society and is fully committed to creating an inclusive work environment for all our people. RX is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. Visit www.rxglobal.com
About RX Japan
RX Japan organises 90 exhibitions, composed of 372 sub-exhibitions, annually at large exhibition halls such as Tokyo Big Sight, Makuhari Messe, and Intext Osaka across a wide variety of 39 fields, including jewellery, fashion, gift items, electronics, energy, IT, cosmetics, and medical. Visit the RX Japan website for more details.
Also Read
Making Your Life Sparkle – Luxury Jewelry and Custom Design from JM Gems
Sponsored content. Story submitted by RX Global. The World Art News (WAN) is not liable for the content of this publication. All statements and views expressed herein are opinions only. Act at your own risk. No part of this publication may be reproduced without written permission. © The World Art News
The post RX Japan Opens Visitor Registration for the International Jewellery Tokyo Autumn Show appeared first on World Art News.
RX Japan is excited to announce the opening of visitor registration for the 12th International Jewellery Tokyo Autumn (IJT AUTUMN 2024), set to take place on October 23rd-25th at Pacifico Yokohama. This prestigious event, a highlight in the global jewellery industry calendar, will showcase around 810,000 exquisite jewellery items, including rare gemstones, coloured diamonds, pearls, luxury watches, and more.
The IJT AUTUMN 2024 is expected to attract over 15,000 visitors from around the world, making it one of the most significant gatherings of jewellery enthusiasts, social buyers, and industry professionals. With 430 leading exhibitors from Japan, Poland, Indonesia, Turkey, Thailand, China, Hong Kong, and South Korea, this year’s event will include a rich variety of products and opportunities for networking and business growth.
Special Global Showcase
This year’s IJT AUTUMN will present an opportunity for attendees to discover the latest trends, source new products, and build valuable connections within the global jewellery community. With previous numbers showing 72% domestic visitors, 18% international attendees and 10% social buyers, the event is truly a global platform where cultures and ideas converge.
Visitor demographics from previous years indicate that 44% of attendees are retailers, 19% are wholesalers, and 19% are designers, highlighting the event’s importance for both large and small businesses in the jewellery sector.
“As we prepare for IJT AUTUMN 2024, we are thrilled to welcome visitors from around the globe once again to experience the latest in jewellery design and innovation,” said Yoshihito Waki, Show Director of IJT AUTUMN 2024. “Expect this event to be on a different scale, with over 810,000 unique items on display, making it an opportunity for anyone involved in the jewellery industry. We encourage all professionals to register early to secure their place at this must-attend event.”
A Proven Track Record of Success
Last year’s IJT AUTUMN event attracted thousands of visitors and exhibitors, resulting in numerous business deals and partnerships. This year, with an anticipated increased participation and more products on display, IJT AUTUMN 2024 is expected to surpass previous success stories, making it a key date in the calendar for jewellery enthusiasts.
Visitor registration is now open, and early registration is encouraged to ensure a seamless entry to the event. Attendees can look forward to an immersive experience where they can explore a diverse array of jewellery from around the world, engage with industry experts, and discover the latest trends and innovations.
Register for IJT AUTUMN 2024 at https://bit.ly/4cZORbb
For more information, visit https://bit.ly/46feHpH
About IJT Series Shows
IJT is a trio of prestigious events occurring thrice each year (Tokyo in January, Kobe in May, and Yokohama in October). Celebrated for their exquisite assortment of diamonds, gemstones, and pearl jewellery, the IJT Series Shows offer a dynamic platform for industry professionals to connect, discover, and prosper.
About RX
RX is in the business of building businesses for individuals, communities, and organisations. We elevate the power of face-to-face events by combining data and digital products to help customers learn about markets, source products, and complete transactions at approximately 400 events in 22 countries across 42 industry sectors. RX is passionate about making a positive impact on society and is fully committed to creating an inclusive work environment for all our people. RX is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. Visit www.rxglobal.com
About RX Japan
RX Japan organises 90 exhibitions, composed of 372 sub-exhibitions, annually at large exhibition halls such as Tokyo Big Sight, Makuhari Messe, and Intext Osaka across a wide variety of 39 fields, including jewellery, fashion, gift items, electronics, energy, IT, cosmetics, and medical. Visit the RX Japan website for more details.
Also Read
Making Your Life Sparkle – Luxury Jewelry and Custom Design from JM Gems
Sponsored content. Story submitted by RX Global. The World Art News (WAN) is not liable for the content of this publication. All statements and views expressed herein are opinions only. Act at your own risk. No part of this publication may be reproduced without written permission. © The World Art News
The post RX Japan Opens Visitor Registration for the International Jewellery Tokyo Autumn Show appeared first on World Art News.