With the global art market reaching new heights every year, investors are increasingly looking to emerging artists as an opportunity to get in early. But how do you identify the most promising new talents whose work could appreciate substantially in value? Here are some tips for spotting rising stars in the contemporary art scene that are worth investing in for 2023 and beyond.
There are certain signs that indicate an emerging artist has the potential for a breakout year. Gaining representation from an established gallery provides validation and exposure to influential collectors. Prestigious residencies, grants and awards also raise an artist’s profile and signal their work is being recognized. Social media buzz, press coverage and spikes in auction prices suggest growing momentum.
It’s important to look beyond the numbers and hype though. Great art withstands the test of time. When assessing new artists, it’s wise to consider their skills, concepts and uniqueness. Exceptional technique in terms of draftsmanship, use of materials and innovation is a hallmark of artists poised for success. Those exploring fresh perspectives, challenging conventions and developing a distinct visual language tend to stand out from the crowd.
Geographic trends also matter, with vibrant local art communities often incubating new talent. Major urban centers like New York, Los Angeles, London and Berlin have long been hubs of emerging art. But it’s worth paying attention to up-and-coming arts cities like Mexico City, Cape Town, Bangkok and Lagos as well.
For savvy collectors, staying close to the ground and developing relationships in the art world is key. Attending graduate shows, gallery openings, art fairs and following the programs of institutions like Sotheby’s Preferred provide exposure to the next generation of talent before most. Identifying rising artists early and acquiring works at affordable prices allows one’s collection to grow in parallel with an artist’s career.
With thousands of young artists launching their practices every year, it’s impossible to predict who will ultimately emerge at the forefront. But by focusing on exceptional technique, conceptual strength and watching for early signals of institutional and market recognition, investors can feel more confident placing their bets on the most promising talents of 2023.
Look for artists gaining representation and validation from major galleries
Being represented by an established gallery is a key milestone that signifies an emerging artist is gaining traction. Blue-chip galleries like Gagosian, Pace, and Zwirner have extensive global networks of collectors and carry significant influence in the art world. They vet hundreds of artists very selectively before adding the best talents to their rosters. When a young artist earns representation at a prominent gallery, it’s a strong vote of confidence in their potential, granting them crucial exposure and legitimacy. This platform also gives the artist access to resources, connections, and guidance to nurture their career. Artists like Julie Mehretu, Njideka Akunyili Crosby, and Nicolas Party saw their profiles and auction prices spike after joining renowned galleries. Savvy collectors should pay close attention to the new names on the rosters of leading galleries to identify rising stars being endorsed by art world gatekeepers.
Look for rising auction prices and collector enthusiasm
Auction results don’t lie – a sharp increase in an artist’s hammer prices indicates growing demand. When deep-pocketed collectors compete to acquire an artist’s work, it’s a clear sign that their market is heating up. Signs of collector buzz include bidding wars at auction, waitlists for an artist’s work, and new works selling out immediately. Social media chatter and a sense of cultish devotion among fans also reveal an artist is building momentum. When reviewing auction records, look for consistent price increases over multiple sales, rather than just a single exceptional result. Rapidly escalating auction prices suggest that savvy buyers are betting on an artist early in their trajectory. However, be wary of prices rising too far too fast without underlying substance, as these markets can prove unsustainable.
Look for artists receiving grants, residencies and institutional recognition
Serious emerging artists tend to rack up grants, residencies and institutional accolades as they build their careers. Prestigious grants from organizations like the Pollock-Krasner Foundation, Louis Comfort Tiffany Foundation and Creative Capital come with vital funding and recognition. Competitive residency programs offer artists space, resources, and community. Look for artists completing residencies at influential venues like Pioneer Works, Skowhegan, and the Studio Museum in Harlem. Prestigious prizes like the Future Generation Art Prize and Scanlan Prize provide validation, while acquisitions from forward-thinking institutions like MOMA and the Tate are strong seals of approval.
Look at art school graduating classes for the most exciting new talents
The graduating classes of leading MFA programs offer a first look at emerging generations of artists. Elite art schools like Yale, RISD, Columbia, UCLA, and Goldsmiths incubate the next wave of talent. Galleries, collectors, and critics pay close attention to the best MFA graduates working in mediums like painting, sculpture, photography, and video. Attending graduate thesis shows allows you to discover promising artists as they launch their practices. Graduates leaving Yale in 2022 like Hugo McCloud and Paco Tomelli who are already exhibiting worldwide demonstrate the caliber of talents emerging from top schools. Taking note of promising MFA graduates gaining gallery representation and institutional opportunities allows collectors to identify the rising stars of tomorrow.
Follow taste-making collectors who spot talent early
Certain collectors have a knack for discovering emerging artists that go on to wider success. These taste-makers’ early enthusiasm can drive initial demand. Young collectors like Julia Stoschek, Eugene Sadovoy, and Lu Xun are renowned for spotting fresh talent. Their endorsements validate an artist’s potential. Top collectors also advise institutions like MoMA on acquisitions, further elevating artists they support. To find the most exciting emerging artists, follow the collecting habits of those with their finger on the pulse. If an artist already has works in the collections of respected contemporary collectors, it’s a positive indicator they are on the rise.
Identifying the most promising emerging artists involves tracking metrics like sales and institituional recognition while also fostering a deep understanding of the contemporary art scene. Combining data with the gut instincts of art world insiders allows savvy investors and collectors to make smart bets backing the rising stars of tomorrow – artists whose fresh ideas and exceptional techniques foreshadow greatness and commercial success.