The art industry has always experienced a degree of volatility. From 2007 to 2009, the market fell a staggering 40% and made a miraculous recovery after the 2008 financial crisis, climbing back to pre-recession levels within the next decade. Now the art world is again facing significant challenges due to the pandemic. Confidence in the art market post-lockdown has been shaky and there’s no doubt that, like so many others, the art industry has had to adapt to survive.
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