Over the last five years, one key trend to have emerged in the global art market is a focus on historically overlooked or underrepresented artists. This has included shining a light on women artists, a growing interest in African and African diaspora artists and a renewed focus on traditional media and indigenous art, according to Rubina Romanelli, Art Consultant to the Stonehage Fleming Art Management team.
“The next Venice Biennale will provide a good indication of emerging trends. However, the resurgence of women, overlooked, or undervalued artists is likely to continue, as galleries and collectors have invested in these artists, and museums plan their exhibitions years in advance.”
African artists and artists from across the African diaspora also appear to be a stable focus for collectors and exhibitors. “Major art fairs such as 1-54 Contemporary African Art Fair and institutional exhibitions, like the outstanding Kerry James Marshall exhibition recently concluded at the Royal Academy are cases in point,” says Rubina. “Institutional recognition gives confidence to the market, creating a virtuous circle.”
The reason for this, Rubina says, can be put down to two main factors. “First, curators and institutions are addressing historical gaps, uncovering overlooked work as part of their moral and historical responsibility. Also, activist groups such as the Guerilla Girls or social and political movements like Black Lives Matter, have helped highlight issues such as the underrepresentation of women and racial inequities.”
The other factor concerns the value of the art produced by women and other undervalued artists. “Collectors and market participants have recognised the financial potential of undervalued artists - often historically significant figures whose work had been priced far below that of their male counterparts,” says Rubina.
As the art market continues to broaden its lens, does the growing recognition of women, African, and other historically overlooked artists signal a meaningful cultural shift rather than a passing phase? “Art is inevitably connected to a historical, social, and political context in time,” says Rubina. “It reveals deeper truths and offers new perspectives on the world. The current reassessment of overlooked voices reflects not only a market correction, but a wider cultural awareness. While market dynamics may fluctuate, the underlying shift in narratives suggests the potential for a deeper and more lasting transformation, extending beyond short-term market cycles.”
Art Adviser and Senior Collection Manager, Rubina Romanelli, manages the collections of international ultra-high net worth families, trusts, galleries and foundations. We caught up with Rubina in Milan at an art event co-hosted by Stonehage Fleming and Piper and de Ganay, an international Art Advisory duo with over forty years of combined experience specialising in blue chip modern and contemporary art.
Maria de Peverelli, Chairman of the Art Management department, welcomed four distinguished art experts on the discussion panel, Anders Petterson, Founder and CEO of ArtTactic Ltd, a London-based art market research and analysis company, Giovanna Bertazzoni, Chairman of Christie’s Europe and impressionist and modern art specialist, Christian Levett a collector, philanthropist, and former investment fund manager and founder of Female Artists of Mougins Museum (FAMM), and Cecelia Canziani, who will be curating the Italian pavilion at the 61th Venice Biennale. Rubina and Arianne co-moderated the panel discussion: Trends in the Art Market.
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