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.
The book highlights an existential crisis for the art trade, which relies on outdated models of loyalty and validation. The failure to adapt to demands for immediacy, transparency, and new values risks alienating a generation poised to inherit significant wealth, potentially upending the market's established canon and economic foundations.