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The State of the Art Market

Six high-profile art world movers & shakers share their insights on the major market trends. This past November, the art market and its mysterious ways made waves again with a much-discussed sale of a banana taped to a wall. The controversial piece by Italian artist Maurizio Cattelan, titled Comedian, sold at a Sotheby’s auction for $6.2 million after becoming a viral sensation at Art Basel Miami in 2019, raising the age-old question of what makes art valuable. At the time, the art market wasn’t in its best shape. 2023 had been a down year, and the auction totals for the first half of 2024 were at their lowest level since the pandemic. What could we expect for 2025? How would elections impact sales? And what was the mood among gallerists and collectors? Tefaf director Dominique Savelkoul, gallerist Kamel Mennour, Fine Art Group's director Pauline Haon, collector Bruno van Lierde, and Artnet Vice President Sophie Neuendorf came together to analyze the art market and its future from different angles in a panel discussion moderated by Hubert d’Ursel, director Benelux of The Fine Art Group.