A recent article in The New York Times reports on the state of photography in the secondary and auction markets, noting that, despite the popularity of the medium, sales for photography account for less than 2% of the global market. “Many of these new buyers are looking for unique, high-quality trophy art which has been driving prices of postwar and contemporary art to new heights,” says Anders Petterson, the managing director of ArtTactic. “There has definitely been a trickle-down effect of this on the photo market. However, as most photographic works are selling in the lower- to medium-end of the price spectrum and often in larger editions, there isn’t the same allure of this market to many of these buyers.”
Read more at New York Times
