VOLTA Future Forecast | Top 5 Trends of 2024
This blog is approximately 3 minutes reading time.Whilst many were waiting for the dust to settle after a few uncertain years, 2023 could only guarantee on thing - continuous change. As we approach 2024, VOLTA shares its future forecast and the trends that will continue to shape the direction of the art market next year and beyond.
The predictions delve into the very fabric of the art world. We consider where the pendulum swings between in-real-life experiences and the digital realm, a look at the collaborative climate solutions on the horizon, and what artistic voices will continue to gain traction.
Sit tight and enjoy.
Touch, taste and even smell: Why materiality matters.
Materiality emerges from 2023 as a pivotal force. The upswing in this trend shows the transformative power of materials in contemporary art, emphasizing the tangible, physical, and sensory dimensions that are becoming prominent in art created now.
Previously explored in our Materiality Matters blog, we highlight VOLTA Basel 2023 exhibitor Saule Suleimenova of QAZART and the sensory work of Rubens Takamine presented by Solar dos Abacaxis at Art Rio.
Artwork by Saule Suleimenova at VOLTA Basel 2023
Indigenous Art Special Zone at Art Taipei 2023
Noted by Artistic Director Lee Cavaliere “I was pleasantly surprised by the prevalence of indigenous art in galleries and fairs this year. It spoke to VOLTA's ethos of highlighting voices that may have been sidelined. From Sundaram Tagrore Gallery in New York, to Liang Gallery in Taipei, indigenous artists presence was very noteworthy.”
This trend sparks questions about the connection between the ongoing decolonization of the art market and this revival in materiality. Art fairs are platforms where the world of art convenes under one roof. They are places of interconnectedness where global artists can share their diverse narratives. VOLTA’s 2024 editions are expected to be no different, with an expected scope of over 20 countries, from Lebanon to China, Europe to West Africa and beyond.
2. Digital vs. Reality
As we emerge into 2024 one thing is becoming abundantly clear - audiences want to be a part of the action. Whether that’s off-piste events such as Sukeban Japanese Women's Wrestling event at ArtBasel Miami or the likes of underground events like Basel Social Club, memorable art experiences are on the up.
The ArtBasel x UBS Art Market report, states that “sales of art-related NFTs had fallen to their lowest level since January 2021”. And, though the buying digital art may be on the decline, artist experimentation in the space continues and digital spaces remain a key tool for art buyers and collectors. The online art marketplace Artsy, states that striking the balance between in-person and online interactions is key and, when it came to the marketing channels collectors found most important, “more than 60% of respondents chose email newsletters”, 58% chose gallery websites , closely followed by in-person events and art fairs at 57% and 39% retrospectively.
So, what does this all mean? For art, we imagine pieces that scream tactile. Artists will lean into those textures and senses you can’t replicate in the digital space. Whilst art collectors will strike their own personal balance between human interactions and the digital realm, galleries and art fairs must also do the same.
Works by Anke Eilergerhard shown by Anna Laudel Gallery at VOLTA New York 2023
3. Collaborative Climate Solutions
‘Kusa-kanmuri (Character Radical)’ by Tomotoshi Hoshino courtesy of Japan Promotion. Shown at VOLTA New York 2023
International Art Fairs work within a global market that means, as an industry, it is inherently emission heavy. VOLTA is one of many art fairs building allegiances and a strategic map towards combating this and work toward a greener future. The Gallery Climate Coalition is one such organisation that supports the collaborative efforts of the arts sector to find solutions. Since being established in 2020, the GCC has grown exponentially with offices globally and over 800 members. VOLTA is a member and, as part of this, we are investigating what our overarching targets will be, how we review our shipping practices, and improve our onsite environmental credentials.
Greenwashing will be off the cards for 2024 with new European Legislation leading the way to negate misinformation in wider societal advertising. The art world will follow suit. Not only being a space that continues to ideate solutions and new innovation, but to find solutions through transparency. According to The Art Newspaper’s Contemporary Arts Editor, Lousia Buck, who is a monthly columnist of ‘Green is the New Black’ and featured on the ‘Year in Review Podcast’, art institutions need more transparency around the art they present, emissions and materials used to bring projects and art works to fruition.
The future looks green and collaborative.
4. The Solo booth is back.
VOLTA New York founded its 2008 ethos on being a daring art fair of purely solo presentations. With an eggs-in-one-basket approach, galleries bravely presented a body of work for collectors to explore and snap up. Due to market instability in 2020, this expectation was realistically addressed and we supported our galleries in diversifying their presentations. But, it seems the solo presentation is making a comeback.
Most recently, Art Basel Miami Beach dedicated their Positions sector to ‘solo presentations by emerging artists’ and you can reminisce on the solo presentations seen at VOLTA New York this year here.
With Artsy recently reporting that 51% of galleries discover art through artists, this shows the value of galleries championing artist voices to their collectors. Leaning into that one on one, relationship that collectors may feel with an artist, that has been bolstered by factors such as social media. The Solo booth is a space where galleries can nurture a zone for audiences to feel that binary experience they may be looking for with their favourite artist.
In 2024 we believe we’ll see more daring attitudes from galleries, collectors, and artists alike as they dazzle with a focussed story.
Irene Grau with Maus Contemporary. VOLTA Basel 2023
Basmat Levin with Ethan Cohen Gallery. VOLTA New York 2023
5. The Female Force
Nest by Monika Plentauskaite, Oil on canvas, 110x 100cm. Courtesy of Meno Niša. Shown at VOLTA Basel 2023
We cannot ignore the uptick in representation of female artistic voices in the contemporary market. At both 2023 editions of VOLTA, over 52% of the artists shown identified as female. This reflects the wider representation and sales. According to Artsy’s report of women in the ultra-contemporary market, the total price of works sold has risen by 4,701 % since 2012, from $5.28 million to $220,24 million in auction sales.
And this uptick isn’t limited to the contemporary market. With major institutions hosting retrospectives of leading female voices - to name Sarah Lucas at Tate Britain, Marina Abromovich being the first female to take over the main spaces at the Royal Academy of Arts in London and Judy Chicago at The New Museum in New York - it seems this overdue representation is growing in strength and set to continue.
Sourceshttps://www.artsy.net/article/artsy-editorial-ultra-contemporary-women-artists-forefront-art-markethttps://pages.artsy.net/rs/609-FDY-207/images/Artsy%20Art%20Industry%20Trends%202023%20.pdfhttps://www.artsy.net/article/artsy-editorial-sustainability-takes-center-stage-art-taipeis-30th-editionhttps://theartmarket.artbasel.com/https://www.theartnewspaper.com/2022/05/09/green-is-the-new-black-art-climate-crisis-environmentalismhttps://www.europarl.europa.eu/news/en/press-room/20230918IPR05412/eu-to-ban-greenwashing-and-improve-consumer-information-on-product-durability