Apollo Magazine was founded in London in 1925 and it’s since been dubbed as “The International Magazine for Collectors.” Published monthly, Apollo features highly curated art content, covering everything from antiquities to contemporary work. Featured articles regularly involve in-depth discussion of the latest art news, including exclusive interviews with the world’s greatest collectors and artists, expert information on the market and previews of exhibitions worldwide.
Apollo 40 Under 40 is a project founded by Apollo that highlights the most talented and inspirational young people shaping the art world today. Each year, the focus is on a different part of the world, encapsulating the international and collaborative values of the magazine. Yieldstreet was a proud sponsor of Apollo 40 Under 40 Asia Pacific this year, celebrating the transformative power of 40 talented young artists, collectors, curators and advisors from the region, no doubt making up a small proportion of all the young people whose work is shaping the future of the global art market.
The Asia Pacific region has massive influence on the global art market, which underscores the importance of surveys like Apollo’s 40 under 40. The global art market we know today has been heavily shaped by China’s emergence as a major regional power in the early 2002s, when it overtook Germany and France in total annual fine-art auction sales.
In 2020 for example, Sotheby’s, Christie’s, and Phillips all reported that Asian clients accounted for nearly a third of their global sales. In 2021, buyers from Asia accounted for $1.04 billion in spending; a third of the value of Christie’s sales worldwide in only the first half of the year. This represented the highest spending from the region in five years, setting expectations high for the years ahead.
Western contemporary art is also growing in popularity among Asian collectors, fueling record auction prices for even lesser known Western artists like Joel Mesler, Javier Calleja, and Mr. Doodle. In 2017, the Western contemporary sector accounted for 32.4% of all contemporary art sales at Sotheby’s Hong Kong and by spring of 2021, that figure had risen to 58.3%. By 2025, it’s also expected that Asia Pacific will host almost a quarter of all UHNWIs, which would be 17% more than a decade ago. Among these collectors are prominent names in other entertainment spheres like Kim Namjoon, the lead rapper of the Korean pop sensation BTS. In fact, the impact of the Hallyu wave was in evidence throughout Apollo’s list, with three of the 10 featured artists born in Korea.
If you’re interested in learning more about art finance and how blue-chip paintings are valued, please visit Athena art finance and see current art offerings on Yieldstreet.
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