Who buys art, and why? A new generation of art collectors ft. Jamie Gourlay
Who is buying art and collectibles in 2018, and why? Jamie Gourlay, Director of 10 Hanover, answers this and shares observations about a new generation of art collectors.
“A lot of our clients are investors as well as collectors. The average kind of profile of collector who we’re seeing at the moment is less so the kind of guy who buys a painting because they necessarily, absolutely love it… “We’re seeing less people who absolutely love art” and increasingly “collectors and investors who are buying works to get something that’s going to really hold its value.” Jamie Gourlay
As more are collecting art in general, many are doing so to own an asset that is presumed to hold its value. Collectors are more frequently taking on a profile akin to an investor, as opposed to intrigued by a particular artist. This is a result of better visibility of the assets value, which is only increasing with the rise of blockchain art.
About Codex
Codex is the leading decentralized title registry for the $2 trillion arts & collectibles (“A&C”) ecosystem, which includes art, fine wine, collectible cars, antiques, decorative arts, coins, watches, jewelry, and more. Powered by the CodexCoin native token, the Codex Protocol is open source, allowing third-party players in the A&C ecosystem to build applications and utilize the title system. Codex’s landmark application, Biddable, is a title-escrow system built on the Codex Protocol, which solves long-standing challenges in auctions: non-performing bidders, lack of privacy, and bidder access. The Codex Protocol and CodexCoin will be adopted as the only cryptocurrency by The Codex Consortium, a group of major stakeholders in the A&C space who facilitate over $6 Billion in sales to millions of bidders across tens of thousands of auctions from 5,000 auction houses in over 50 countries.
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Nothing herein constitutes an offer to sell, or a solicitation of an offer to buy, in any jurisdiction in which it is unlawful to make such an offer or solicitation. Neither the U.S. Securities and Exchange Commission nor any other federal, state, or foreign regulatory authority has approved an investment in the matters contemplated herein.
