2024, Splits and Beauty of The Art Industry

The Original Starting Point

Can’t believe while pursuing a new challenge in 2024, I got a dream job my younger self would’ve loved so much. That is, being in the art industry. To be exact, when I was 17, my dream was to own an art gallery jazz lounge. Now it makes me wonder, why didn’t I pursue. I recalled being at a point where I had plenty of options to figure and learn. Now life seems to have taken me on a big detour and dropped me off where I first began taking interests in specific school subjects at ~8yo. I’m talking about Computer and Art.

I’ve always loved art and it has been one of my strengths. Art was also one of my favourite channel to bond with my dad, apart from chinese language and music. In this specific case, the quote by Leonardo da Vinci that is pretty apt:

“Art is never finished, only abandoned” — Da Vinci

New Territory, New Play

It’s fascinating how much I’ve learnt to balance things this year right from the start. Not just physical lifestyle but also very much mental ability, and occasionally emotional regulation. Frankly, I’m most interested working with my split brain —a position I have never put myself in before.

After coming off from the blockchain space the previous year, I literally spent first half of 2024 burrowed in tech. Deep learning the theories of different technologies with a few rough ideas in mind. I, with the best of my knowledge, developed a theoretical understanding and prototype of how and what to build. The fun challenge was, having to switch my technical and non-technical part of brain back and forth while explaining to different people about the idea. I could feel how different my brain worked in split second, which was really fun!

The Beauty of Art

Later half of 2024, I spent a good amount of time managing an art gallery simultaneously. While it is more natural grasping the artistic aspect of the business, the fun in working with a split brain also applies. However, what it did more for me was being amongst the creative and artistic flow of energy soothes and balances my whole being. This is the power of art (and creativity); an outlet to indulge in visual, mental and emotional stimulation.

What I love most is the power of engagement it potentially harnesses regardless in social or in solitude. The freedom to decipher any work of art is so personal and liberating. Have you tried leisurely watching the clouds in the sky and let your mind wander? Exactly how it feels!

3 Interesting Splits In The Art Industry

Since I spoke about how wonderful my split brain functions, let me share how wonderful splits work cohesively in the art industry:

• Art Collector vs. Art Investor
• Blue Chip Artists vs. Established Artists vs. Emerging Artists
• Traditional Art vs. Digital Art

1. Art Collector vs. Art Investor

Throughout history, art collectors and art investors have played distinct yet complementary roles in shaping the art world. Collectors, driven by passion and a deep emotional connection, seek art that speaks to them. Often curating personal collections that reflect their tastes, interests and values.

Investors, on the other hand, approach art and artists with a strategic mindset, viewing it as a tangible asset with the potential for financial appreciation. While their motivations may differ, their contributions to the art industry are inseparable. Collectors keep the heart of art alive by championing creativity and authenticity, while investors provide the financial support that fuels innovation and growth. Both helping artists and their work thrive. Personally, I am a collector as I believe the foundation of any art I invest in needs to fundamentally create a winning experience for myself; brings me joy and take personal (and social) enjoyment to the next level.

In today’s art market, these roles are more intertwined than ever, creating a dynamic ecosystem where passion meets opportunity. Whether you’re captivated by the beauty of a piece or intrigued by its investment potential, your involvement helps sustain the art world’s value and vibrancy.

2. Blue Chip Artists vs. Established Artists vs. Emerging Artists

The art world thrives on its rich diversity, and the journeys of Blue Chip, Established, and Emerging Artists exemplify this dynamic spectrum.

Blue Chip Artists;

Such as Pablo Picasso or Claude Monet, have achieved legendary status with global recognition. Their works consistently command sky-high prices—like Monet’s Meules (Haystack), had a record-breaking sale of US$110.7 million in 2019 at the Sotheby’s New York. This historic sale marked the first time an Impressionist artwork surpassed the $100 million threshold. It’s a reflection beyond just the artist himself. What’s more interesting is, that same painting was purchased in 1986 at Christie’s for only US$2.53 million. That’s a 43-fold increase in value over 33 years​! These Blue Chip artists symbolize cultural and financial stability, offering pieces that are both iconic and timeless.

Established Artists;

Such as Banksy or Yayoi Kusama, balance artistic acclaim with rising market demand. Their works often provide collectors and investors with accessible opportunities for growth, as seen with the shredded Love is in the Bin, by Banksy. It soared over £18.6 million in 2021 after originally selling for a fraction of that (pre-shredded price). The 2018 shredding incident was a pivotal moment in contemporary art, blending performance and commentary on the commodification of art. When I heard the shredding occurred right after the sale, I was mind blown. Originally sold for around £1 million, the partial destruction increased its fame and value, reflecting a remarkable return on investment for its previous owner. The final sale reaffirms Banksy’s ability to challenge traditional art norms while engaging a global audience​.

Emerging Artists;

Such as Ghanaian artist Amoako Boafo, are the industry’s fresh voices, their daring creativity often leading to meteoric rises in value. For instance, one of Boafo’s notable portraits, Baba Diop, created in 2019, skyrocketed in demand, selling for over US$1 million at Christie’s Hong Kong in December 2020. A new record set for the artist at that time. His rise in value also reflects a broader interest in contemporary African art on the global stage​. What I particularly like was his prominent finger painting technique accentuated by way of (Van Gogh-ish-like) strokes on the skin of his portrait’s figure.

3. Traditional Art vs. Digital Art

Traditional art and digital art are two captivating realms that fuel the creative spirit in profoundly different ways, yet together they expand the art world’s horizons. Traditional art, with its roots in history, is defined by physical media such as oil paintings, marble sculptures, or ink drawings. This tactile form carries the weight of centuries, like the enduring masterpieces of Vincent Van Gogh or the delicate brushstrokes of Japanese woodblock prints. 

New Age Media

On the other hand, digital art is a child of technology, offering an infinite playground for creativity using software, digital tablets, and virtual reality tools. It also went through cycles of evolution from static 2D to 3D, to motion graphics and beyond. Some of the most recent cases of Digital artists would be, Beeple. Widely known in the blockchain/crypto space whose NFT (Non-Fungible Token) named Everydays: The First 5000 Days was sold for US$69 million. It is a collage of images produce daily for consecutively 5000 days, and was not originally intended to be put up as an NFT in the blockchain space.

Of course, I could also go on and on about some of my personal favourite NFT projects such as the new-age media company Doodles, etc. However the point is, digital art showcase the groundbreaking potential of this medium in reshaping what we consider “art.”

Finding The Right Art

The beauty of the art industry is its endless opportunities and room for growth, however that looks like is really subjective. I constantly seek highly attractive, stimulating and/or engaging art that has potential to spark curiosity and emotions, regardless in social setting or solitude. By working with a dedicated art dealer/curator, you can bridge the perspective of owning a collection that reflects your individuality while building value over time.

Hence, I offer bespoke curation service that fits your desires. Whether you’re looking to elevate spaces, enhance personal and social enjoyment, or investing in the next gem. Most importantly, the goal is to create winning experiences at every interaction. Let me walk with you in this journey, ensuring each acquisition is not just a transaction, but a meaningful step toward a legacy of art and culture that’s uniquely yours. Together, we can build your art story into one that inspires and endures.

If you would like to connect for collaboration or service engagement, please drop me an email at pesh@hausofpesh.com.