How Emerging Artists Can Thrive in a Superstar Art Market
Insights on the market and how to reach the right buyers.
I spent last week reading about the winner-takes-all contemporary art market1. This sent me down a rabbit hole exploring the idea of superstars—why certain fields, like music and sports, tend to elevate a few individuals to extreme levels of fame and success, while others, like accounting, management, or production, do not. In superstar-driven fields, rewards and recognition grow exponentially with talent, rather than proportionally.
Clare McAndrew, the economist behind the Art Basel and UBS reports, pointed out that the art market is increasingly being sustained by high-end collectors. Art collecting is becoming more concentrated, with the top 0.1% of the population now driving much of the market activity.2
Offer Waterman, a London dealer who specializes in modern and contemporary art, said in an NY Times article.3
“Back in the 1990s, we had lawyers, doctors, and dentists buying paintings. The professionals have now been priced out of the market, and it’s shifted more toward investment bankers.”
Bad News First
As the rich get richer, they make bigger purchases at the top galleries. The smaller galleries that show emerging artists are shuttering as mega galleries showing superstar artists take over4. There is less support for the low end of the market, and the gap between big and small galleries is growing. The sales at larger galleries, making between 1M and 10M, have risen, and the sales at smaller galleries have shrunk. The art market has truly become a liquid asset. It is an international business.
The art market is shifting toward a landscape dominated by major galleries at art fairs and visibility on Instagram. Meanwhile, the middle and upper-middle classes are increasingly priced out of collecting art as an investment—their typical spending range of $500 to $5,000 feels significant to them but often doesn't yield a return. At the same time, the very concept of owning art is losing traction among these buyers, as they gravitate toward an experience-driven economy and show less interest in accumulating physical possessions.5
The gist of all of this is that middle class isn’t buying art because they don’t have the disposable income to do so, and their preferences have changed too.
Given the dismal state of affairs, how does a good, hardworking artist thrive or even make a living?
The Good News
Even though the top line figures at the art markets were lower, the experts working in the auction sectors revealed that the number of transactions increased and more people were buying at lower price levels, which is really healthy for the market6. According to Artmarkets’ 29th Annual Contemporary Art Market report, demand for works worth $5000 or less has increased by 6%.7
1. Who is buying affordable art and where?
Consumers born between 1981 and 1996 are the largest demographic of art spenders in 2020. These are not necessarily middle-income people, but their behaviors in procuring art are mainly focused online. About 92% of millennials8 do all of their art purchasing online. Most of these buyers are more educated than their predecessors and eschew outdated and elitist norms of purchasing artwork. They want accessibility into art spheres. As this group ages, they will also grow richer and probably buy from the same artists if they like the artists’ work.
2. What are they buying?
There are younger players in the market now who are trying to democratize the ownership of high-quality contemporary art. Even though marketplaces like Avant Arte are focusing on getting middle-class collectors to collect limited edition prints of popular artists like Warhol, Hockney, Banksy, Hirst, etc, there are also middle-class, younger collectors who are looking to build their social capital by picking up affordable but popular art.
Explaining the Chinese Contemporary Art Market and its relationship with the middle-income market, art advisor Xu Mengchen mentions that ‘trend art’ is popular in the middle-income bracket and contributes to its rise. This artwork is colorful, bold, and mostly figurative, like the work of Takashi Murakami and KAWS9.
3. Why are they buying?
According to Magnus Resch's book, ‘How to Collect Art,’10 a study examined the main drivers of art ownership. Aesthetic consideration, passion and expression of personality, and support of artists are the three main drivers for buying art, with financial gain in fourth place.
This past year, I donated to a film project and purchased an editioned print from a well-known local artist. I wouldn’t call myself a collector by any means, but I felt compelled to support these two projects—they were both led by South Asian women creatives, and their work felt deeply meaningful. The social impact of these projects resonated with me, and I saw them as extensions of my own values. I don’t have a lot of disposable income, but the stories behind the work felt more powerful than whatever I might have saved. It also feels like something has shifted—like a door has opened—and now, I find myself wanting to collect more art.
4. How to get collectors to buy your art?
Newer collectors—often younger, middle-class, and buying their first pieces—are looking for work that speaks to themes like cultural identity, representation, and personal expression. They're also drawn to urban contemporary and street art styles, which feel fresh, bold, and less formal than traditional gallery art.
Think of it this way: they’re not buying just to decorate, they’re buying to connect.
Make it easy to buy.
Offer larger pieces through monthly installment plans. Price sensitivity is real, so provide a range of price points and keep your pricing transparent. Even a simple “DM for prices” is better than leaving people guessing. Be upfront about shipping and framing costs—these can become barriers if not clearly communicated.
Connection matters.
For this demographic, the story behind the art and a sense of connection with the artist are as important as the work itself. Show up as a real person. Be ready to engage, but don’t be overly salesy. Many middle-class collectors are motivated by a desire to support artists, so being authentic and sharing your story can go a long way.
Meet them where they are.
Art fairs like Superfine or The Other Art Fair offer casual environments to meet potential collectors. Open studios are also highly effective. On the trade side, working with interior designers can open up new opportunities for visibility and sales.
Think functional and decorative.
Functional or decorative art resonates strongly with this audience. I’ll be bringing in some artists who specialize in this area to speak more about it.
Educate and empower.
Just like small, reputable galleries guide new collectors, artists can take on that role too. Use your social media not only to showcase your work but also to demystify collecting. Help people feel confident stepping into the role of a collector—it helps them, and it helps you.
Art as a gift.
Framing your work as a meaningful gift can lower the psychological barrier to purchase. It allows the buyer to feel thoughtful and generous—and gives them social cachet as someone with taste and culture.
And remember—go in with confidence.
There are people out there actively looking to buy art like yours. This market is growing year over year. You’re not behind. You’re not in the wrong place. You’re exactly where you need to be.
You can make money from your art. Believe it. Show up like it. And build your strategy around that truth.
Summing up
As the traditional structures of the market evolve, artists face both challenges and new opportunities. The growing dominance of mega galleries and high-end collectors may seem daunting, but it also signals the emergence of new ways to connect with buyers—especially among younger, digitally-savvy collectors who prioritize accessibility, personal connection, and social impact.
For emerging artists, the key to thriving in this changing landscape lies in adaptability. By embracing online platforms, engaging directly with their audience, and telling authentic, meaningful stories about their work, artists can cultivate a loyal following and tap into the expanding middle-class market. The demand for affordable art is growing, and with it, a diverse group of collectors who seek art not just as an investment, but as a form of expression and connection.
Great article. Very hopeful and encouraging. The lawyers, doctors and dentists that were priced out of the the high end of art buying now will seek to be part of a subculture that speaks their language. This is both an opportunity and a form of capital.
Such useful information! Thank you! Does the article on which the graph, "motivation to buy art," is based give any information about the sample size and characteristics/demographics of the sample and what sort of tool they used to get those percentages?