Art market expert Georgina Adam's new book, 'NextGen Collectors and the Art Market,' analyzes the industry's struggle to attract and retain younger buyers like millennials and Gen Z. She examines the difficulty in defining this demographic, their shifting tastes away from traditional blue-chip artists, and their volatile, less loyal market behavior.
Elle Peréz, a photographer and co-chair of the Young Collectors Council (YCC) at an unnamed museum, discusses the group's activities in an interview. The YCC meets twice a year to acquire artworks through a transparent process involving curator presentations and studio visits, with members voting on acquisitions. Peréz highlights the party celebrating Diane Severin Nguyen's commissioned piece, noting the seamless integration of music, art, and aesthetics, and emphasizes that the acquisition meetings are the core of the group's appeal.