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The season of Fall has many aspects that range from the weather, trends, activities, media attention and global events that can shift this time of year.
While there may be trends with popular pieces this season, a variety of media platforms also play their part in the art industry. Events in the art world also showcase how many different perspectives exist for the public in a variety of different ways.
Despite a few very well known popular pieces in media the fall season for sales dropped over the past two years . There were also notable factors including less high tier collectors being in attendance. Experts believe this has something to do with recent US elections. However the hope from the art community is the Trump presidency and it's tax cuts can help in improving the numbers for this area.
Most auction houses in New York reported sales numbers being much lower. This caused a unique look into high end buyers with what type of work they desire. While some higher priced lots created buzz there are many questions about new emerging artists which have slowed sales compared to recent years. With big named trophies gaining much attention, new emerging artists did not reach prior numbers of sales.
René Magritte's “Empire of Light” is an example of big art that garnered much attention as well as a hefty price tag in the Fall. It had a lot of press and publicity due to the record that it had broke. That notoriety however was still not enough for some as many in the art community expected a higher pay out at the auction it had taken place. There was interest with bidding but mainly for only those with very high monetary capacity which led others wondering if that might be a change for the entire market.
The duct-taped banana which came from Maurizio Cattelan did not have any influence on creating an uptick in more purchases during the event. It was also reported there were also fewer sales of known artists while only specific popular pieces drew attention of buyers at specific price points. As one example "The Now Sale" from Sotheby’s which once had a massive value dropped drastically due to lesser interest in new talent or newer pieces.
Many involved in selling art hope Trumps promises for the economy will also reinvigorate the Art Market while some in that industry are not convinced by those strategies. Art has dropped in the preference of those with wealth which could include some to see it more as a "wasting asset." New collectors from new cultures are drawn to Frieze, Basel, Hong Kong and Dubai but are also not necessarily in the mindset to buy anything at this time.
Those that study the art market are concerned that a lot of activity comes from stable affluent democracies but at this time most are not finding those elements in many world leaders causing new concerns about those sales continuing. Also since some billionaires would rather spend on having social influence than buying art they see art to be a lesser important investment. The market dynamics highlight many external factors on purchasing choices in this time frame.
Across Oklahoma several schools had to cancel classes due to winter weather systems that brought snow into the community. Also other states saw challenges. Storms ranging from snow and sleet to rain along with freezing temperatures all made travel difficult and a great safety hazard.
The US had many areas with severe conditions that led to closures, school cancelations and road hazards from Texas to Oklahoma and even over to the East coast. Many are following alerts and working closely to mitigate damages created during that period.