Are young art collectors reinventing the market?A series of roundtable discussions was organized at AXA headquarters, centered on young art collectors. Evolutions of the cultural sphere, trends of the art market, news practices of young collectors… What are the key takeaways of the discussions?
Why young collectors?
As the art market is changing, galleries, merchants and auction houses are seeing their business models disrupted. Young collectors, which represent between 15% and 25% of all collectors, are the key to have a glimpse of the future.
But fundamentally, young collectors do not really differ from their elders: they buy, promote, and support artists. They usually acquire from artists' studios, as the price is lower, and art galleries, seeking confidence and advice, rather than online or from auction houses that are too pricey. Young collectors are looking for dialogue and encounters. The Internet is used, of course, but mostly for the acquisition of information on the art works, and communication, with artists as well as with the public).