Art Intelligence Global’s founding partner expects the mid-level art market, which is from $2 to $10 million, to offer opportunities for investment.
“Where things just feel off-market, not as hot as we thought,” Amy Cappellazzo said at the Bloomberg Invest conference in New York on Thursday, speaking of auction results from last month and namechecking artists Willem de Kooning, Lee Krasner and David Hockney.
Cappellazzo went on to say that there might be a constrained supply of blue-chip material as estates aren’t coming on the market quite as often as before due to changing attitudes in collecting and new tax strategies. Meanwhile, there’s an increasing interest in collecting.
“Things that have been locked in collections for 30 years, this is all very, very desirable,” she said. “So the competition of the trade to get access to it, to sell it, and of course get commissions etc., is hot, which in some way heightens the overall desire for it.”
Looking at growing areas in the art market, she said certain parts of the world that didn’t get as much attention for their art are now getting their due, such as Japanese works from the 1950s and 1960s. Women and artists of color are also segments to watch.