The past year has been extremely challenging, especially for those working in creative sectors. Yet, 2020 has undoubtedly enacted some positive changes in the art world too. As we near the end of this unprecedented year, we look at some of the ways the pandemic has shaped the landscape of the art world and its market.
With physical galleries shut for most of the year, the art world was forced to modernise and move online for 2020, with traditional auction houses such as Sotheby’s hosting virtual auctions for the very first time. In line with Covid restrictions, exhibitions also moved online and virtual reality experiences replaced traditional gallery visits. This year, Maddox Gallery hosted numerous virtual exhibitions with great success. From Terry O’Neill: ‘Every Picture Tells a Story’ to Reality Is A Fine Place, But I Wouldn't Want To Live There: By The Connor Brothers, thousands of people visited Maddox exhibitions from the comfort of their own homes.
Maddox Artistic Director, Maeve Doyle notes that ‘2020 has sparked a revolution in the art world, changing everything we thought we knew about who buys what and why’. With people unable to spend their disposable income on holidays and entertainment, over the past year, the art market has seen increased interest from first time buyers. The 2020 Art Basel and UBS Global Art Market Report stated that high net worth millennials are now the fastest growing contingency of collectors in the world. This means that the market is opening up to a whole new group of clientele, which promises exciting things for the future of collecting.
Although cliché, this year has served to prove that crisis does indeed inspire creativity, with 2020 yielding some excellent artwork. Confined to their homes for a large proportion of the year, lots of artists have used this time period to create new bodies of work. Many of our artists, the Miaz Brothers, Igor Dobrowolski and Joseph Klibansky, just to name a few, have created new artworks in lockdown, which we are extremely excited to be exhibiting in the New Year.