Art Trends: Cold, Lukewarm or Haute?
Do you want to know what’s going on in the “art” world? Here are some notable trends we’re tracking in the market so far for 2016…
According to The European Fine Art Association’s (TEFAF) recently released Art Market Report, Chinese sales dropped 23 percent because of their economy’s contraction. That being said, worldwide, the Chinese decorative art and antiques sector increased 6 percent on the back of high prices for porcelain and ceramics. But there is one area of collecting that is still capable of setting exceptional prices, seemingly regardless of where it is being sold or what is happening in the world: historic Chinese art. This kind of historically aware collecting has fallen out of fashion, at least in the West. Wealthy Westerners, when they do buy Chinese art, now tend to buy contemporary. The world’s museums and rich-and-famous continue to regard the best Chinese Neolithic jades, Tang dynasty pottery figures and Ming dynasty bronzes as among the timeless achievements of human civilization. The new wealth of China still values this heritage and is prepared to pay for it. The future of Chinese art remains in China.
Luxury never goes out of style. Fine wine, handbags, & watches remain popular precisely because they symbolize wealth and exclusivity. This vintage Rolex suggests prestige without being ostentatious.
Luxury Goods Marketplace
Growth in the personal luxury goods market should be consistent with 2015, according to consultancy Bain & Co., an authoritative and respected bell-weather of such trends because of its extensive coverage of the sector.
The luxury goods market includes accessories and couture, designer clothing, jewelry, watches, wine and spirits. Fine names like Hermes, Burberry, Cartier, Tiffany, Rolex, and Patek Phillipe sell for significant sums of investment-grade money.
This market is often affected by traveler’s purchases while “on vacation.” European tourism has been affected by political immigration and militant attacks, while the U.S. is in the midst of the political campaign season. Once the presidential election is over, the strength of the dollar will affect the American tourist shopper’s interest in luxury goods.
The discrepancy between prices in Europe and China, may decline because of China’s trade, tax and personal shopping commission changes.
— excerpts from Reuters, 4/6/16
Mid-Century modern is a sleek, urban style that dominates the consignment furniture market. With home decor moving away from large, ornamental styles, mid-century modern is streamlined without being bland. With its oblong shape top, this rare Dunbar coffee table by Edward Wormley combines geometric flare with the natural beauty of travertine stone.
Mid-Century Modern Marketplace
There have been so many different and exciting mid-twentieth century designs re-discovered in the 21st century, it may be a challenge to choose favorites! The hand-crafted MCM includes an eclectic mix of artisanal design elements including Scandinavian, Italian, French and Brazilian, to Industrial and American. Fine objects, art and furniture are prized by decorators, distinctly placed to admire. Materials range from natural wood and stone to manufactured metal and glass. In addition to an appreciation of organic or clearly defined forms, designs of furniture and objects alluded to naturalness and candor.
Earlier this century, as designers embraced the MCM look, prices for MCM were through the roof. A look through design blogs today reveals a blending of styles, incorporating a variety of styles, with emphasis on a few well-placed adornments. Recently, prices of MCM have leveled off for all but the finest objects by revered names such as Paul Evans, Charlotte Perriand, Corbusier, Nakashima, or Tenreiro, whose rosewood Brazilian furniture was restricted by export laws until the late 20th century. For a decorative bargain, look for newer copies of furniture such as Barcelona or Eames chairs and Lucite lighting.
Co-Authors: Lynn Magnusson, ASA, AAA and Becky Lipnick, Communications Coordinator