The article discusses trends and insights from a survey of high-net-worth individuals (HNWIs) who collect art. Some key findings include:
1. **Inheritance plays a significant role**: 84% of HNWIs own works inherited or gifted from family or friends, with 44% in Switzerland having the highest percentage of inherited works.
2. **Family tradition is influential**: Inherited pieces are more likely to be kept and passed down to children or partners, rather than being sold.
3. **Market volatility concerns remain**: Despite optimism about market direction, HNWIs remain cautious about cross-border trade barriers, market volatility, transparency, legal exposure, and safeguarding personal data when buying online.
4. **Cross-border trade is on the rise**: 64% of HNWIs report planning to buy art from international sources in the next year, up from 54% last year.
5. **New York's marquee sales are expected to perform well**: 83% of HNWIs expect strong performance in New York's top-tier sales, while 81% express confidence in the market outlook for the year ahead.
6. **The market is becoming more transparent**: 63% of HNWIs say they use online platforms and social media to research and purchase art, with 44% citing Instagram as a key influencer.
Overall, the survey suggests that despite global uncertainty, collectors remain optimistic about the art market's direction, and there are opportunities for growth in cross-border trade and digital sales.
1. **Inheritance plays a significant role**: 84% of HNWIs own works inherited or gifted from family or friends, with 44% in Switzerland having the highest percentage of inherited works.
2. **Family tradition is influential**: Inherited pieces are more likely to be kept and passed down to children or partners, rather than being sold.
3. **Market volatility concerns remain**: Despite optimism about market direction, HNWIs remain cautious about cross-border trade barriers, market volatility, transparency, legal exposure, and safeguarding personal data when buying online.
4. **Cross-border trade is on the rise**: 64% of HNWIs report planning to buy art from international sources in the next year, up from 54% last year.
5. **New York's marquee sales are expected to perform well**: 83% of HNWIs expect strong performance in New York's top-tier sales, while 81% express confidence in the market outlook for the year ahead.
6. **The market is becoming more transparent**: 63% of HNWIs say they use online platforms and social media to research and purchase art, with 44% citing Instagram as a key influencer.
Overall, the survey suggests that despite global uncertainty, collectors remain optimistic about the art market's direction, and there are opportunities for growth in cross-border trade and digital sales.
! 84% of them are stuck with family gifts or inherited pieces, and they're basically expected to keep them forever just because their grandma said so? Give me a break! They're not even getting paid for it, it's all just emotional value (not that I'm saying it's not valuable). And can you imagine having to navigate the complex world of cross-border trade with all those laws and regulations? It's like they're trying to buy a house without knowing the first thing about contracts 
. But hey, at least they're optimistic about the market... I guess that's better than being pessimistic 
I think it's interesting how many HNWIs rely on inherited pieces to start their collection 
. It shows that family ties can play a big role in shaping an individual's taste in art, right? 
Anyway, I'm not surprised to hear that market volatility concerns still linger - who wouldn't be worried about buying online and dealing with all the potential risks involved 
. On a positive note, though, it's awesome to see more collectors exploring cross-border trade and using social media platforms to find their next big piece of art 
. The fact that Instagram is becoming such a key influencer in this process just goes to show how much the online world has changed the way we interact with art 
. Overall, I think there's definitely room for growth and exploration in the art market, especially when it comes to digital sales 
.
Like I've got a mate whose uncle was friends with Picasso back in the day, and now his uncle's estate owns like 10 art pieces that are worth millions! It's crazy. And I can see why family tradition is so important here - my grandma used to tell me stories about our family heirlooms, and it feels special to own something that's been passed down through generations. On the flip side, though, market volatility is still a major concern for these collectors 
Can't say I blame them, given all the changes happening in the world right now. But hey, at least they're optimistic about New York's art scene - that's always a bright spot!
. I mean, who wouldn't want to own something that's been passed down through generations? And Switzerland having the highest percentage of inherited works is wild, 44%?! That's a lot of family heirlooms being turned into art investments 
. Still kinda weird that some HNWIs are worried about market volatility tho, like, isn't that what makes collecting art exciting in the first place? The uncertainty! 
They know that their family's history & tradition is super important when it comes to buying & selling art pieces. I mean, 44% of Swiss HNWIs have inherited works from their fam - that's crazy! 
. On the other hand, it's great to see cross-border trade on the rise - who knows what cool art pieces we'll see from around the world in the future?
. That city is always a hub for the art crowd. But it's nice to see them expressing confidence about the market outlook too.
also it's crazy how worried they are about online sales like what's gonna happen when the website crashes or something 
but on the bright side more international trade is def good for the art world and social media is literally changing the game 
like what's wrong with buying something new? and 64% of them want to buy art online? that sounds super sketchy to me 
I mean, I guess it's good for the market or whatever... but shouldn't they just be worried about actual money problems instead of which art piece is worth more 
. And it makes sense that family tradition is all about preserving those inherited pieces, passing them down to the next gen. But still, 44% of Swiss collectors are way ahead with inherited art - what's up with that 
. But hey, at least there's optimism about the market in New York, where all the marquee sales happen 
! And it's cool to see HNWIs using social media to research art - Instagram is like the ultimate influencer for art lovers 
. But seriously, this highlights the importance of preserving cultural heritage and tradition in the face of globalization. It's refreshing to see that HNWIs are prioritizing family over profit – maybe we should take a page out of their book? 
. This just goes to show that there's always room for improvement in terms of transparency and regulation. Perhaps it's time for us to rethink our approach to cross-border trade and digital sales? 
After all, as HNWIs are increasingly using online platforms, we should be ensuring that these channels are secure and trustworthy 
- Eleanor Roosevelt