American Art Market Revival Driven by New Wealth
Since World War II, the center of the international art world has shifted from Paris to New York, both in creation and market terms. Newly wealthy American collectors are fueling a revival of art collecting, driven by social factors. Less trendy collectors focus on modern art, while the more fashionable pursue contemporary works. They compete for classic contemporary American art, favoring established blue-chip names such as Willem de Kooning, Roy Lichtenstein, Philip Guston, and Hans Hofmann.
Key facts
- The international art center shifted from Paris to New York after WWII.
- New American wealthy collectors are driving a collecting revival.
- Social reasons are among the factors behind this trend.
- Less trendy collectors buy modern art; trendier ones buy contemporary.
- Collectors compete for classic contemporary American art.
- Blue-chip artists include Willem de Kooning, Roy Lichtenstein, Philip Guston, Hans Hofmann.
Entities
Artists
- Willem de Kooning
- Roy Lichtenstein
- Philip Guston
- Hans Hofmann
Locations
- Paris
- New York
Sources
- artpress —