Money makes the world go round, and the art world is no exception. But where that money comes from has evolved over the past 20 years.
Artsy analyzed two sample cohorts of the world’s top collectors to see how the industry make-up behind the most elite collectors has changed over the last two decades.
The big takeaways? Finance is in, really in. “Other”—a designation we used for lawyers, doctors, architects, and individuals who didn’t fit into the most highly represented categories—is out. (See below for a full explanation of our methodology, which relied onARTNews’s annualTop 200 Collectorslist.)
Today’s art market is heavily concentrated in a handful of industries. In 2016, finance, real estate and construction, and retail accounted for nearly two-thirds of the industries behind these mega-collectors. Twenty years ago, finance, real estate, and the then-next-largest industry, media, accounted for just over half of the collectors’ wealth.