Is most art now just too expensive for most people?

"The inaugural edition of a new Art Basel fair opened in natural gas-rich Qatar in February with a novel artist-curated format consisting of 87 dealers presenting focused, biennial-style displays by individual artists. The ruling Al Thani family, worth $200bn, toured the fair before it opened and reserved numerous works, leaving dealers to spend the next few days wondering if and when those reserves would convert into sales."

"Sotheby's Financial Services arm (SFS) has announced a $900m securitisation, backed with loans collateralised against high-value art and classic cars. Sotheby's has bundled together loans it has made to collectors and converted them into bonds to be sold to investors, thereby freeing up $900m for the auction house. These loans, which turn high-value collections into sophisticated financial instruments, have become a routine feature of collecting at the highest levels."

"The biggest of big money-what might, for convenience's sake, be called the wealth of the billionaire class-continues to drive what is going on at the very top of the art market, the only segment that gets much in the way of media attention."

The high-end art market has recovered after years of underperformance, with notable developments reshaping the sector. Art Basel launched a new fair in Qatar featuring an artist-curated format with 87 dealers, attracting significant interest from the Al Thani family who considered major works including Basquiat and Guston paintings. Simultaneously, Sotheby's Financial Services announced a $900m securitization backed by art and classic car loans, converting collector borrowing into tradable bonds. This reflects how ultra-wealthy collectors routinely leverage valuable art collections as financial collateral. The market remains dominated by billionaire-class wealth, with these financial innovations becoming standard practice at the highest collecting levels.

Read at The Art Newspaper - International art news and events