As the art market shows signs of slowing, London is looking to attract a new generation of art buyers — and showcase young emerging artists in the process.
Global art sales slid 4% year-on-year in 2023, according to the Art Basel & UBS Art Market Report 2024, falling to $65 billion after two years of growth.
But now we are seeing more the 25- to 35-[year-old] buyers," he told CNBC's "The Art of Appreciation."
HOFA represents artist Sougwen Chung, who uses a robot Chung designed to co-create work.
"It was really, really interesting, because we could see my own stylistic input, my own decision making … transferred and translated into a machine system," they said.
Persons:
Elio D'Anna, CNBC's, HOFA, Sougwen Chung, Chung, DOUG, …
Organizations:
Art Basel, UBS Art, of Fine, CNBC, MIT Media Lab
Locations:
London, London's Mayfair, —