A visitor admires the Sotheby’s New York display of the only privately owned collection of every Supreme skate deck ever manufactured for the online-only sale '20 Years of Supreme' in New York in January. Photo: AFP
The global art market experienced another uptick in 2018, helped by an increase in the spending power of millennials. That’s according to a recent report conducted by UBS and art economist Clare McAndrew, and published by UBS and Art Basel.
A survey of wealthy individuals found that millennials were buying art more actively and frequently, even taking to the Internet to do so. It found that more of them were willing to shell out big money on art than their older peers. They also provided a boost for female artists.
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