The art world is constantly shifting. Sometimes it is driven by a new generation of collectors, other times by the finality of an artist’s passing, and often by the very spaces where art comes alive — from galleries to city streets. Recent publications in Vogue Business, Observer, and TheCollector reveal three very different perspectives that together form a story about today’s art market.
Gen Z: The Collectors of the Future
A decade ago, young people stood at the margins of the collecting world. Today, they are emerging as a new driving force. As Vogue Business notes, the traditional model of selling art — elitist, closed, and expensive — no longer resonates with Gen Z. These young buyers want something else: accessibility, transparency, and the story behind the artwork.
Platforms like Avant Arte understand this need. Instead of focusing on auctions worth hundreds of thousands, they offer limited editions at more approachable prices while building narratives and communities. For Gen Z, purchasing a painting or sculpture is not just a transaction — it’s a way to participate in culture, often tied to their values: ethics, sustainability, and authenticity.
When the Artist Is Gone — What Happens to Their Art?
There is a common belief that an artist’s death automatically increases the value of their work. As Observer shows, the reality is far more complex. Yes, there are spectacular examples, like Matthew Wong, whose works skyrocketed in value after his passing. But more often, the market reacts cautiously — sometimes even with decline.
Why? The main issue is a lack of estate management. Oversupply of works, unclear inheritance rights, or the absence of archives can all weaken an artist’s market position. Often, it takes years — and the support of retrospectives, curators, and institutions — for their art to regain momentum. It’s a reminder that an artistic legacy requires as much care as the creative process itself.
Porto: A City Where Art Breathes
Porto tells a different story. As TheCollector describes, it is a city where art does not hide behind gallery walls — it flows into everyday life. From the baroque Clérigos Tower and the neo-gothic Lello Bookstore to contemporary murals telling local stories and raising social issues.
Institutions such as the Serralves Foundation and galleries like Centeno and Presença bring international artists to the city, but equally important are the street works of creators like Bordalo II, whose famous “Half Rabbit” has become an icon. Porto proves that public space can serve as a museum of its own — and that art is often most powerful when encountered in daily life.
Three Lessons for the Contemporary Art Market
- Democratization – Art is no longer only for the elite. Gen Z shows it can be collected at fair prices when supported by storytelling and value.
- Legacy – An artist’s estate does not sustain itself; it requires care, archiving, and strategy to live on beyond their lifetime.
- Space – Cities like Porto prove that public art can engage audiences more strongly than art locked away in galleries.
Artanabo’s Conclusion:
The art world now stands at the intersection of three forces: young collectors redefining the market, the passing of artists raising questions of memory and value, and cities transforming into living galleries. What unites these threads is the need for closeness: between art and people, between memory and the future, between creativity and the spaces we inhabit.