The global art market is currently enjoying a golden age with a string of record-breaking sales. In 2017 the sale of Leonardo da Vinci’s “Salvator Mundi” for $450.3m making the majestic artwork the highest priced ever sold, while Jeff Koons became the most expensive living artist with the sale of “Rabbit” in May 2019 for over $90 million.
Collecting art is no longer a pursuit only enjoyed by an aristocratic elite, but a passion that is accessible to people from diverse backgrounds. Unlike other types of investment, art is capable of giving intense joy and an aesthetic enrichment as well as providing the potential for significant return if you do eventually decide to sell your collection.
According to UBS and Art Basel’s “The Art Market 2021 Highlights”, while the world took a severe hit in the 2020 health crisis, art dealers saw the most improvement in 2021 with a rise in sales averaging 21%. The strength of the global art market has thus made it very attractive to investors looking to diversify their portfolio with high-performance assets that have the additional benefit of bringing great visual pleasure to their new owners.
Navigating the dynamic and exciting global art market of today is no easy task which is why Red Eight Gallery offers fully-managed investment services. Our guidance and assistance is tailored to meet your needs and to help you navigate the market as an experienced collector or to support your first steps as you enter the market.
At Red Eight Gallery our approach is grounded in the belief that both aesthetic enjoyment and investment potential should drive every recommendation we make to our clients.
As well as acquiring exceptional works from emerging artists which could increase hugely in value in the future, we are also on hand to source work by established and blue chip artists according to our clients’ requirements.