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wealthy buyers cautious as global art sales decline by four percent

Global art sales declined by 4% to approximately $65 billion last year, driven by cautious spending among wealthy buyers amid inflation and high interest rates. Auction sales fell by 7%, while dealer sales dropped by 3%, with only China seeing a 9% increase in transactions, becoming the second-largest art market. Speculative art transactions, particularly NFTs, also suffered, with sales plummeting 51% from their peak in 2021.
MarketScreener
United States Dollar UBS AG CHN CHE USA Paul Donovan Show more
TradFi, Market Report
11:04 24.10.2024

wealthy buyers cautious as global art sales decline by four percent

Global art sales declined by 4% to approximately $65 billion last year, driven by cautious spending among wealthy buyers amid inflation, high interest rates, and political instability. Auction sales fell by 7%, while dealer sales dropped by 3%, particularly affecting high-value art and NFTs, which saw a 51% decrease in sales from their 2021 peak. In contrast, China's art market grew by 9%, becoming the second largest globally, as buyers returned post-COVID lockdowns.
ch.marketscreener.com
Chinese Yuan United States Dollar UBS AG CHN CHE USA Paul Donovan Show more
TradFi, Market Report
11:04 24.10.2024

wealthy buyers cautious as global art sales decline by four percent

Global art sales declined by 4% last year to approximately $65 billion, driven by wealthier clients becoming more cautious amid inflation, high interest rates, and political instability. The only market to see growth was China, which experienced a 9% increase in transactions, reaching $12.2 billion, attributed to post-COVID buying behavior. Meanwhile, speculative art transactions, particularly NFTs, suffered significantly, with sales dropping 51% from their peak in 2021.
US News & World Report
United States Dollar UBS AG Thomson Reuters Christie's CHN USA Paul Donovan Tatiana Bautzer Show more
TradFi, Market Report
11:04 24.10.2024

why some etfs struggled despite a thriving bull market

In a surprising turn of events, certain ETFs have struggled despite thriving market conditions. This episode of Trillions delves into the reasons behind these funds' unexpected downturns during a bull market, highlighting the complexities of investment performance.
bloomberg.com
ETF Securities Ltd.
Finance & Economy, Market Report
11:00 24.10.2024

art market faces upheaval as wealth shifts and collectors retreat

The art market is approaching a significant turning point, as a recent survey reveals that wealthy collectors are allocating a smaller portion of their net worth to art. While a dedicated group of collectors prefers in-person acquisitions, many plan to attend fewer art events. Additionally, a generational shift is underway, with wealth transferring from older to younger collectors, who seem to be retreating from the market.
Bloomberg.com
UBS AG Art Basel
TradFi, Market Report
11:00 24.10.2024

art market faces upheaval as wealth shifts and collectors retreat

The art market is approaching a significant turning point, as a recent survey reveals that wealthy collectors are allocating a smaller portion of their net worth to art. While a dedicated group of collectors prefers in-person acquisitions, many plan to attend fewer art events. Additionally, a generational shift is underway, with wealth transferring from older to younger collectors, who seem to be retreating from the market.
bloomberg.com
UBS AG Art Basel
Finance & Economy, Market Report
11:00 24.10.2024

ubs raises price targets for lloyds and hochschild mining stocks

UBS has raised its target price for Lloyds to 63p, maintaining a 'neutral' rating, while also increasing Hochschild Mining's target to 290p with a 'buy' recommendation. Additionally, RBC and Deutsche Bank have raised target prices for Reckitt and Playtech, respectively, reflecting positive outlooks for these stocks.
MarketScreener
British Pound Sterling Hochschild Mining plc Playtech Ltd. Lloyds Banking Group plc Spire Healthcare Group plc Reckitt Benckiser Group plc Hollywood Bowl Group plc Show more
TradFi, Market Report
11:00 24.10.2024

wealthy buyers retreat as global art sales decline by four percent

Global art sales fell 4% last year to approximately $65 billion, driven by cautious spending from wealthier clients amid inflation, high interest rates, and political instability. The volume of art auctions decreased by 7%, with only China seeing a 9% increase in transactions, becoming the second-largest art market. Speculative art transactions, particularly NFT sales, have also declined significantly, down 51% from last year's peak.
Boursorama
United States Dollar UBS Group AG CHN CHE USA Paul Donovan Tatiana Bautzer Show more
TradFi, Market Report
11:00 24.10.2024

TVS Motor Company maintains strong margins but downgraded to hold rating

TVS Motor Company reported a record margin of 11.7% in Q2FY25, driven by a growing EV revenue mix. The company anticipates a recovery in rural demand and a 7-8% industry growth in Q3. Despite a strong stock performance, the recommendation is downgraded to HOLD with a target price of INR 2,596.
Moneycontrol
Indian Rupee TVS Motor Company Limited IND
Finance & Economy, Market Report
11:00 24.10.2024

odey returns to hedge fund amid ongoing misconduct investigations

Crispin Odey has returned to Odey Asset Management LLP, the firm he left amid sexual misconduct allegations that are still under investigation by UK regulators. He was appointed as a director last month, with his company assuming administrative responsibilities, and the firm's address has been changed to his residence.
bloomberg.com
Odey Asset Management LLP GBR Crispin Odey
Regulatory & Legal, News Article
11:00 24.10.2024
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