art ralph deluca photography market

Art advisor Ralph DeLuca, in his column "Street Smarts" for Cultured, analyzes the struggling photography market. He notes that photography auction sales have plummeted from a peak of $230.5 million in 2014 to just $116.9 million in 2024, attributing the decline partly to smartphones making photography seem effortless. DeLuca, who owns over 20,000 photographs, argues this downturn presents a rare buying opportunity for collectors to build museum-quality collections at lower prices.