Interview with Clare McAndrew

Fascinating online interview from the Art Newspaper with Clare McAndrew of Arts Economics analysing how the art market has been affected by the Covid crisis.

This was the last session in a series on the art market "New Models for New Times: Rethinking the Art Market in a Changing World" in which McAndrew was interviewed by Georgina Adam, editor-at-large of the Arts Newspaper. McAndrew took us through various charts and graphs of how the marker has reacted to the crisis.

She felt the worse performers were the mid-range galleries selling at $250-500K with all galleries sales being down an average of 30%. Auction sales were down 50% in value compared to the previous year but partly because the number of lots were down. She compared the real and online markets, with online obviously increasing with online sales making up 37% of sales this year as opposed to 10% the year before.

They then discussed how the galleries and auction houses had adapted to the issues and reflected on which of these might continue long term. They both thought the art calendar would change with fewer art fairs and with a more local audience.

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