Who is Buying Art Right Now?

Nowadays, the world of art is quickly and continuously growing and trending. With the help of social media sites, artworks garner more fans. Hundreds of new artists were also easily discovered. However, art is more than just fame. It is a profession that needs to be rewarded, and artists need to earn a living. There is a variety of art buyers. They come in different status, shape, gender, age, and backgrounds. With this, both artists and collectors should take into consideration analyzing the marketing world they are involved. It is to make their artworks more relatable and likable by its viewers. Remember that different people have different needs that they want to satisfy. If you are not able to do this, you are going to lose to hundreds of other artists. These are some factors to look at to figure who is buying art nowadays:

Nationality

Although some artists like to deny it, nationality has significant effects on artistic fame in the contemporary art world. This is because different countries have different cultures. Some have more liberating customs than others. Some were more into satire than romance. It is also important to note that there are hundreds of different religions. These factors affect the art collectors’ tastes, passion, instincts, preferences, and values in appreciating art.

Moreover, social norms also affect art decisions of collectors. It dictates the art style that will be at its peak in the market. Naturally, people tend to buy things and appreciate them more if they are trending in their area. 

According to a study, the USA and Germany are 30% ahead to other nations in terms of collecting artworks. Next is the United Kingdom, France, Switzerland, and Australia. Although some art lovers are now advocating globalization, it is still undeniable that artists still tend to make artworks for their own country.

Age

Art is a powerful weapon at all times. However, every generation still has different preferences and various reasons why they collect artworks. As people ages, they tend to have more appreciation for art. They also consider this as less than an investment and more on aesthetic purposes.

However, there is no denying that art is one of the luxuries that not everyone can afford. This is the main reason why fewer millennials are interested in spending their money on art. However, this is not because they do not appreciate art. They are just more practical.

Despite this, there are still young collectors around the world. Unlike the older generation, they tend to be more risk-takers and adventurers. They are willing to discover new artists than to buy artworks with art styles that every art collectors must already have. This is also because buying from emerging artists can save them money; hence, why some collectors tend to criticize them.

Moreover, social media and the internet is one of the factors that influence art collectors. If you are going to target the older generations, you will need to have a lot of connections for your artworks to be bought. However, as millennials are experts in social media platforms, it is wise to have sites, blogs, and accounts that will feature your artworks to entice them. It will also help you connect faster and freely with collectors.

Social Status

Some people might say that social status is not essential in art appreciation, and this is true. However, in the market world of art, that is an important matter. Art is not a daily need, and you can live without buying artworks. Although it may satisfy your aesthetics, this is not a practical move for other people.

However, most rich people buy art, not just for their artistic satisfaction. They do it as an investment for the future. As good artworks are priced relatively high, they can save their money without the influence of inflation for future use.

Moreover, privileged people who are lucky enough to have proper education tend to be more inclined in art appreciation. They know the importance of art and its social influences. According to Luxury Daily, 63% of art buying households has a bachelor’s degree.

Knowing your market is vital to dominate the world of commerce. If you want to be a successful high-earning artist, you must take into consideration the factors mentioned above. 

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