"Contemporary art values are skyrocketing."
The contemporary art world altered dramatically at the start of the twenty-first century, when a huge number of new rich purchasers entered the market, and China chose to create its own industry.
The market for contemporary art is no longer what it was 20 years ago. It has experienced noticeable structural changes with an increase in the number of artists (from 5,400 to approximately 32,000 now) and artworks (from 12,000 to 123,000), as well as geographical expansion (from 39 to 64 nations engaged in auctions).
Modern art has progressed beyond abstraction and verisimilitude. Collage, surrealism, pop art, and vibrant colour are all inspirations for today's styles. Artists are combining modern and ancient techniques to produce stunning works that would have been unfathomable just a few decades ago.
Contemporary art has become the major growth engine of the worldwide art market in the twenty-first century.
Basquiat is the first and most recent auction record holder in the previous 20 years. He was the first contemporary artist to sell a piece for more than $1 million (in 1998), and he also created the most expensive Contemporary work ever sold (in 2017). Basquiat's auction record climbed from $1.7 million to nearly $110 million between the two occasions, a 65-fold increase in 20 years. Later on, the trend has continued to expand, and now that different neon, pastel hues of your choosing have appeared, leading this modern art style has become the most beloved of all time. Andy Warhols, Damien Hirsts, Peter doigs had crested beautifully at that time some thought the Contemporary Art Market had peaked at the end of 2007. They were mistaken. In the years that followed, Jeff Koons broke his own record seven times.
In the last two decades, the modern art market has grown by $2 billion.
Color is a powerful force. In the framework of geometric abstraction and minimalism, artists utilise the design of paintings to accentuate and investigate the influence of colour. They've always been fascinated by the interaction of colours and shapes that appear to be unconnected. They frequently use dramatic contrast in proportions to generate visual tension.The versatile angles and vast, rich colour fields generate an energy that each spectator perceives differently.
Contemporary art may have plummeted at times along its voyage as emerging artists have had some great challenges selling their concoctions, which can make them demotivated from then to now when problems arose, but it is now rising to new heights as people are developing this unique artistic sense and investing eventually, they have proven that you can fly as high as you wish and soar freely!
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