Art market trends

Summer typically ushers in a period of relative tranquility in the art market. Still, this year, Summer 2023 has proven to be a captivating season, marked by a compelling fusion of artistic endeavors and historic sales.

Let us embark on a curated journey through a selection of the most noteworthy sales that unfolded during this summer.

New York City, often hailed as a hub of cultural diversity and artistic innovation, is set to host a landmark event that redefines the contemporary art landscape – The Armory Show 2023.

With the recent acquisition by Frieze, a global contemporary art organization renowned for its forward-thinking initiatives, The Armory Show's 2023 edition promises to be a dynamic convergence of creativity and vision.

In the previous article "Decoding Art Valuation: Exploring the Factors Behind Price Variation in Artworks part 1" the objective drivers that influence the valuation of artworks were explored: the age factor, size, medium and materials, rarity, genre and colors, mentions and exhibitions, provenance and ownership history.

In this article, on the other hand, we explore the other factors that contribute to the valuation of works of art.

Evaluating artworks can be a complex process that involves considering various factors that contribute to the variation in prices. Artworks are inherently heterogeneous, differing in terms of artist’s age, artwork size, medium, genre/color, provenance, and mentions in literature or participation in exhibitions.