How is Digitization and Millennials Changing the Art Market?

Unfold Art XChange is pleased to announce that the first session of the Art + FinTech 2.0 summit will take place on Monday, June 1.

The COVID-19 pandemic is rapidly accelerating digitization and innovation. Online art-selling, which has grown steadily since 2013 according to the 2019 Hiscox Online Art Trade Report, is now a vital issue that auction houses, galleries and art fairs must address to survive. New generations of collectors, Millennials and Gen Z, who expect seamless digital experiences, are on the rise.

Join Maria Baibakova, Founder and Director, Baibakov Art Projects, Eugenio Re Rebaudengo, Founder, ARTUNER, Astrid Hill, President & Founder, Monticule Art Advisory, Magnus Resch, Founder, Magnus, Pari Ehsan, Founder & Creative Director, Pari Dust, Anders Pettersen, Founder, ArtTactic, Adriano Picinati di Torcello, Director, Global Art & Finance Coordinator, Deloitte and Robert Read, Head of Art and Private Clients, Hiscox, who will discuss how the Millennial generation is changing the online art trade.

This session will help you find out about the latest developments in the digitization and virtualization of the art market. Adriano Picinati di Torcello will consider the accelerating transformation forced by the COVID-19 crisis and ask how we can come together to collaborate and find efficiencies. Robert Read will give a sneak preview of the 2020 Hiscox Online Art Trade Report that will be available for download mid June and discuss globalization and the democratization of the art world.

Millennials and Gen Z—so-called “digital natives”—are a fast-growing market for auctions houses, galleries and art fairs. How can art businesses develop their strategies to appeal to the next generation of collectors? Do Millennials’ and Gen Z's buying habits differ from their parents? How are smartphones, social media, online viewing rooms and exhibitions creating a new marketplace for art?

Anders Petterson will moderate a discussion with Millennial collectors Maria Baibakova, Eugenio Re Rebaudengo and Astrid Hill about the ways their businesses are adapting to the digital future. They will be joined by social media influencer Pari Ehsan (@paridust), who will explain how she works across art, fashion and the built environment to create an alluring, accessible digital experience. Magnus Resch, the creator of Magnus, the "Shazam" for art will talk about how his app allows anyone from “newbies to serious art collectors” to easily find information and price data about artworks they have photographed on their smartphones.