new money new taste intel report march 2025

The article, part of Artnet's Intelligence Report, profiles the rise of a new generation of art collectors, exemplified by Justine Freeman, granddaughter of legendary patron Betty Freeman. It highlights how millennials and Gen Z, who accounted for a quarter to a third of bidders at major auction houses in 2024, are reshaping the market by focusing on ultra-contemporary artists like Jadé Fadojutimi and Hilary Pecis, as well as nontraditional collectibles such as sneakers and Hermès bags. Notable sales include Maurizio Cattelan's banana artwork "Comedian" for $6.2 million to a 34-year-old crypto entrepreneur.

Sinners, Maurizio Cattelan Is Taking Confession

Maurizio Cattelan has launched a participatory artwork and sales campaign titled 'The Confessional,' where people can call a hotline to submit their sins for his consideration. Selected participants will be invited to a livestreamed event on April 23 where Cattelan, acting as a priest, will absolve them. The project is tied to the re-release of his controversial 1999 sculpture 'La Nona Ora,' a miniature wax figure of Pope John Paul II struck by a meteorite.

maurizio cattelan scavenger hunt joseph beuys felt suit

Maurizio Cattelan has partnered with the online art platform Avant Arte for a project centered on a new sculptural self-portrait titled *We Are The Revolution* (2025), which references Joseph Beuys's felt suit. The work lampoons the self-importance of contemporary art while reflecting on the artist's evolving role. Limited to 1,000 resin editions priced at €1,500 each, the release involves a randomized draw and a scavenger hunt in New York, Amsterdam, and London, where sculptures will be hidden in market stalls, bodegas, and an antiques dealership from September 30 to October 7. Prices range from $0.99 to €9,999 depending on location.

End of investment art? Why the bottom of the market is flourishing

The art market in 2024 saw an aggregate 12% decline in sales to an estimated $57.5bn, driven by a slowdown at the ultra-premium end, according to the Art Basel and UBS Art Market Report and Artprice. However, the lower end of the market is flourishing: auction sales of works under $5,000 grew 7%, dealers with turnover under $250,000 reported a 17% increase, and sales of works under $20,000 reached record levels. Online platforms like Avant Arte, which sold $23m in print and sculpture editions (up 53% year-on-year), are key drivers, attracting younger and first-time collectors with affordable, editioned works.

Maurizio Cattelan opens a hotline to absolve us of our sins via WhatsApp

Maurizio Cattelan ouvre une hotline pour nous absoudre de nos péchés par WhatsApp

Italian provocateur Maurizio Cattelan has launched "The Confessional," an international hotline allowing participants to confess their sins via WhatsApp, SMS, or voice notes from April 2 to April 22, 2026. This participatory performance culminates in a livestream on April 23, where Cattelan will personally grant absolution to selected participants. The project coincides with the release of a limited edition of 666 miniature replicas of his infamous 1999 sculpture, "La Nona Ora," which depicts Pope John Paul II being struck by a meteorite.