The news cycle for the past seven months has been dominated by staggering data points that seek to quantify the scope of the pandemic's effects on the United States and beyond. Within the art world, statistics detailing layoffs and furloughs, museums facing imminent closure, and galleries struggling to make ends meet add to the collective fear and anxiety gripping the world at large.
But there have also been bright spots in both the broad economy, and, surprisingly, within the art market itself.
A new study commissioned by the Independent art fair and Crozier Fine Arts, carried out by data guru Clare McAndrew lays out one aspect that is not just surviving amid the turmoil—it's actually thriving. For the inaugural NYC Art World Report, an analysis of dozens of private art collectors living in New York shared insights about their buying practices, interests, and disdains within the new, largely virtual art ecosystem.
On this week's episode, Elizabeth Dee, veteran gallerist and founder of Independent, joins the podcast to put the report into context, and shares her thoughts on its conclusion: that New York City remains the epicenter for committed art collectors, and will continue to reign supreme across the international landscape.
As a coda to Elizabeth's observations, Artnet News's business editor Tim Schneider provides a layman's analysis of the data within the report, and helps make sense of what to do with this new wealth of information.