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trending_up market calendar_today Wednesday, April 30, 2025

Canada’s art market takes a nationalist turn amid trade war with US

At the opening of "Riopelle: Crossroads in Time" at the Vancouver Art Gallery, philanthropist and collector Michael Audain gave a patriotic speech praising Quebecois modernist Jean Paul Riopelle. Amid US President Donald Trump's trade war and annexation threats, a wave of Canadian nationalism has boosted the domestic art market. Heffel Fine Art Auction House reports record online sales of Canadian art, with Riopelle works especially sought after due to major bequests to a new museum wing in Quebec, removing key pieces from the market. Collectors like Felix Tetu note rising prices and increased interprovincial buying, while the Riopelle Foundation's centennial promotions are bridging Canada's Anglophone-Francophone cultural divide.

This matters because it shows how geopolitical tensions can reshape art markets, driving nationalist collecting and inflating prices for homegrown artists. The removal of major works into institutional collections creates scarcity, potentially transforming long-term market dynamics for Canadian modernists like Riopelle and Emily Carr. The trend also reflects a broader cultural shift in Canada toward celebrating national heritage as a response to external threats, with art serving as both an investment and a symbol of identity.