Art Market Update: Spring Sales Will Test Market Resilience

The first half of 2023 is a key test of the global art market’s resilience in the face of geopolitical headwinds and current art market challenges stemming from economic woes from the U.K. to China, the debate over the preponderance of restituted works, and guarantees at auction coming into question. Despite the challenges, the market outlook points to continued strength as art rises as a strategic asset class, buyers place a premium on narrative in and around the art they collect, and the spending on art-based NFTs remain stable among high-net-worth collectors.

With the art collectors and investors in mind, this art market update also provides insights on the Los Angeles’s dynamic art market, 10 things to know when lending or donating art to a museum, and the 2023 Art Conservation Project: preserving historically and culturally significant works of art.