Bob Ross’s First TV Painting Could Be Yours for $10 Millionmarket dwell collectors. Without them, there’s no one to warrant the countless gallery exhibitions, seasonal day and evening sales, and almost monthly art fairs that batter the art world calendar., which was written by art market soothsayer Dr.
The average spend, the report said, dropped by 32 percent to around $363,905, mainly due to a dip in purchases at the top end of the market.
One of the most notable takeaways from the report was generational. Millennial spending in 2023 dropped a whopping 50 percent from the previous year. In 2022, Millennial HNWIs had some of the biggest increases in average spending overall, especially at the top end of the market. The massive decrease among Millennial HNWIs could explain why the market as a whole seems to have taken a such a dramatic dip in 2023 while median spend has stayed relatively flat.