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This is Wall Power. And I’m Marion Maneker, your regular guide through the art world demimonde. 

Tonight, in the spirit of the New Year, I’m examining some themes I’ve divined in the barrage of year-launching art-market soothsaying—including two egregiously irresponsible predictions. 

But first…

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Will the strong stock market gains of 2024 translate into art market sales? Has money from the Middle East returned to art? What about the rising prominence and wealth of India? A survey of some art market predictions might help the industry tell itself a better story. 

I try to avoid making predictions—mostly because I’m terrible at it—but I also know that making them is an inevitable part of closing out a year and welcoming a new one. Whether that’s because knowledgeable people can’t resist showing off, or virtue-signalling, or just trying to manifest a desired outcome by vocalizing it, a practice known on Wall Street as “talking your book,” I will let you decide. 

As a compromise, I’m evaluating other people’s predictions for the coming year—as a way to both summarize and comment on the emerging conventional wisdom. What’s interesting here is less about what turns out to be correct, but rather what these prognostications can teach us about...

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