DGAP-Media / 2021-02-11 / 08:00 
Six Audacious Art Market Predictions for 2021 
Artnet's Sophie Neuendorf about the staying power of digitalization and a renewed focus on quality 
Berlin/New York, February 11, 2021: The art market just emerged from arguably the most difficult and unpredictable year 
in recent history. The Covid-19 pandemic caused a synchronized and deep downturn of the global economy and art market 
in 2020. Social distancing measures and a lockdown of businesses in reaction to the health crisis resulted in falling 
consumer demand and economic output. According to the Artnet Price Database, global auction sales for fine art fell by 
a quarter to USD9.9 billion in 2020, compared to the previous year. But the Covid-19 pandemic also pushed boundaries and 
accelerated the art world into the digital age. With this backdrop in mind, Sophie Neuendorf is to take the risk and 
make six art world predictions for 2021. 
1. Digitalization is here to stay 
Plato was right: necessity is indeed the mother of invention. During the COVID-19 crisis, one area that has seen 
tremendous growth is digitalization, meaning everything from online customer service to remote working to supply-chain 
reinvention to artificial intelligence (AI) and machine learning to improve the art business. With galleries, museums, 
and auction houses pivoting online and thinking outside the box in response to the pandemic, a positive trend of 
accessibility, efficiency, and transparency accelerated within the art world. This also goes hand in hand with a global 
trend of sustainability and conscious living. The art market's transactional element will emerge as a strong contender 
to the traditional brick and mortar purchasing process, democratizing the art market and opening it up to a new 
generation of art lovers. 
2. Some emerging artists will start bypassing galleries and begin selling directly out of the studio via social media 
or other websites 
It's already a widespread practice among young artists in Asia, and I foresee it crossing over to Europe and the US 
this year. With countless galleries, unfortunately, having been forced to close over the last year, many artists may 
have become increasingly accustomed to selling via Social Media and other websites. Especially young artists may be 
inclined to bypass the traditional route expected of them by the art world and chose to build their careers 
independently. 
3. There will be a major shift in the market, resulting in a new focus on quality rather than quantity 
The past year has forced all of us to focus on what's truly meaningful within our lives. How do we really want to spend 
our time? Do we actually have to visit all of those art fairs and events? Perhaps we will move to a 'new normal' where 
multiple editions of the same fair or gallery are unnecessary - but instead are complemented by an incredible and easy 
to access online offering. Now is the time to excite with quality, depth, and innovation. Because time is precious. 
4. There will be more fine artworks sold at auction this year than over the last few years 
The generally volatile global market for art auctions will recover in view of the expected economic upturn in the 
industrialized countries in 2021. As fine art has increasingly become an asset class, buyers will take advantage of 
last year's fall in prices to acquire works of art at a good price, and speculate on rising prices. 
5. Some art fairs will actually happen this year. But they will be a balanced, online/offline experience 
With social distancing still de rigueur this year, it will be difficult for fairs to accommodate their usual amount of 
art-loving and people-watching visitors. Add to that a gallery's sky-high participation costs, especially after a 
difficult year, and we're looking at only very few fairs happening in 2021. My conservative prediction is that those of 
us able to travel can look forward to visiting ARCO Madrid (which has been postponed to July), Art Basel in Basel, 
Volta Basel, Frieze London, FIAC Paris, and Basel Miami, at best. The rest of us will have to enjoy the virtual 
editions of these fairs again this year. 
6. Galleries will evolve as serious contenders to art fairs and traditional auction houses 
Gallerists have always been of utmost importance as a bridge between the creative genius of an artist and the wider 
public of art lovers and collectors. This year, galleries who have embraced the innovation which the Covid-19 pandemic 
necessitated will emerge stronger than ever. Either through online sales and viewing rooms or collaborations with other 
galleries and institutions, these art dealers will rise as serious contenders to brick-and-mortar auction houses. 
Sophie Neuendorf is Vice President of Strategic Partnerships, at Artnet and a contributing writer for the art 
publication Artnet News and the magazine LUX. 
About Artnet 
Artnet is the leading resource for buying, selling, and researching art online. Founded in 1989, Artnet's suite of 
industry-leading products has revolutionized the way people collect art today. The Price Database contains more than 14 
million auction results from 1,900 auction houses dating back to 1985, providing an unparalleled level of transparency 
to the art market. The Gallery Network platform connects leading galleries with collectors from around the world, 
offering the most comprehensive overview of artworks for sale. Artnet Auctions was the first dedicated online 
marketplace for fine art, providing a seamless and efficient collecting experience for both buyers and sellers. Artnet 
News covers the events, trends, and people shaping the global art market with up-to-the-minute analysis and expert 
commentary. 
Artnet AG is listed in the Prime Standard of the Frankfurt Stock Exchange, the segment with the highest transparency 
standards. 
ISIN: DE000A1K0375 
LEI: 391200SHGPEDTRIC0X31 
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1167617 2021-02-11

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February 11, 2021 02:00 ET (07:00 GMT)