Although 2021 posed many challenges for the financial markets, TPC saw continued demand for fine art financing services throughout the year. Collectors remained actively engaged and continued investing in fine art, with more market participants using leverage from lenders like TPC to do so. Vaccine technology and increased COVID-safety protocols have allowed for the resurgence of highly attended in-person art fairs and events such as Art Basel Miami, Frieze London, and NYC Armory Week, which further propelled the strength of the art market.
Looking ahead to 2022, recent auctions, private, and art fair sales suggest that the art market and its participants will continue buying and selling at the fast pace and the strong volumes we are currently experiencing. On a macro level, the rising level of inflation in 2021 hasn’t had much impact on the overall economy, at least not yet. We remain focused on overall market conditions, corrections in the securities markets, and changes in interest rates which ultimately could affect the art market and our client base. For now, we project a steady – if not robust – art market environment for the next year or so.
TPC’s plans for 2022 include new lending service offerings to further enhance the benefits we provide to our clients. These services aim to further empower galleries, dealers, artist estates, and collectors with a variety of liquidity solutions.
We are thrilled to be helping our clients thrive as we begin to put what we hope is the worst of the pandemic behind us and look forward to what 2022 will bring. Above all, we are grateful to be an even more integral part of the global art community and to be actively engaging in all of our visions for the future and continued success.
Some highlights from 2021:
Barron’s New York Auction Sales Reach US$2.5 Billion (Naomi Baigell)
The Canvas: A Different Kind of Art-Backed Lender – TPCAF (Joe Charalambous)
Baer Faxt TPC Art Finance (Naomi Baigell & Josh Baer)
And more….
Artnet News | The Global Art Market Newswire, ArtTactic, Artsy News, Financial Times