TALKING SHOP JANUARY 24 2024

Great Expectations

by Design Miami

10 experts forecast what the collectible design market will look like in 2024

A POSTMODERN CLASSIC: THE KYOTO SIDE TABLE BY SHIRO KURAMATA FOR MEMPHIS, 1985

Photo © Ammann // Gallery

As the new year inevitably sparks conversations about what lies ahead, we have invited 10 experts to share their expectations for the 2024 collectible design market. Scroll on to see the trends that gallerists, specialists, advisors, and Design Miami/ leaders are watching.

First Things First

VIRGIL ABLOH/ MIDWAY VILLAGE, 2021

Photo © Alexandra de Cossette; courtesy of Galerie kreo

“We've noticed a rising interest in and appreciation for exceptional pieces, both historical and contemporary, while mid-range pieces are becoming less popular. There's a growing acknowledgment of the collectible essence of design, which has fed a shared understanding that truly remarkable pieces withstand the test of time and pass down through the generations.” —Didier Krzentowski, Co-Founder, Galerie kreo

The Personal Is Universal

JUSTINE MAHONEY/ PEARL DIVER, 2020

Photo © Hayden Phipps, courtesy of Southern Guild

“We’ve observed that collectors are gravitating towards collectible design that invites deeper engagement and experience. The social messaging behind the work, such as the designer’s larger mission and impact, has taken on greater resonance with audiences, especially younger collectors. People want a personal connection with artists and the world of ideas that they are engaging with. There is a move towards building collections that explore specific conceptual, cultural, and formal interests, rather than relying on the cachet of an artist’s name. Perhaps this shift has been heightened by the upheaval we are all feeling globally. The idea that a work has deep humanity, collective impact, and offers a somatic and spiritual experience speaks more powerfully now.” —Trevyn McGowan, Co-Founder, Southern Guild

New Languages, New Frontiers

JAIME HAYON/ HYMY ROUND COFFEE TABLE, 2019

Photo © Sylvie Chan-Liat; courtesy of Galerie kreo

“While mid-century design has been in the limelight for the past several years, we're witnessing an expansion of interest into subsequent eras—notably from the 1980s to the present. Collectors seem increasingly aware that pieces by living designers, those of our generation, are contributing a new language to the design field. Looking ahead in design collecting, we anticipate a continued market expansion. The growing importance of our living spaces heightens our expectations for exceptional design to seamlessly integrate into our daily lives and collections.” —Clémence Krzentowski, Co-Founder, Galerie kreo

The Fantasy Factor

TIMOTHY HORN/ SEA FAN 4, 2023

Photo © Cristina Grajales Gallery

“I think fantasy will be a factor for our collectors in 2024. With so much chaos around the world, we need to surround ourselves with pieces that make us dream and smile. One example is the work of Tim Horn. Inspired by 18th-century jewelry and the natural world, he uses nickel plated bronze and cast glass pearls to create something truly remarkable for our everyday environment.” —Cristina Grajales, Founder, Cristina Grajales Gallery

Elections Have Consequences

GEORGE NAKASHIMA/ MINGUREN II COFFEE TABLE, 1973

Photo © Moderne Gallery

In this pivotal election year, I am thinking about how the reelection of Trump could have a terrible impact on the market for collectible design—and our world. After the 2016 election, our market began to struggle, and even our wealthiest American clients (who were getting richer thanks to Trump’s tax policies) were very worried about the future with an incompetent in the White House. Out of fear and depression, they either stopped buying or severely cut back. In 2015, our sales were 75% American and 25% European and Asian. After 2016, our sales were 25% American and 75% European and Asian. Things didn't get better with American clients until Biden took office, so I hope he stays. In other trends, though, my sense is that 2024 will see an upswing in interest in historic and vintage pieces, particularly “brown” furniture, Art Nouveau, Art Deco, and other modernist movements. There is now more awareness of and appreciation for the plethora of incredible studio work in all media, from the 20th century to today. —Robert Aibel, Founder, Moderne Gallery

Handcraft Rises as Boundaries Fall

ROBERTO LUGO/ PUTTI STATUETTE, 2023

Photo © Joe Kramm; courtesy of R & Company

“The market will continue to illustrate the healthy dissolution of any perceived boundaries between different areas of collecting, with older historic handcrafted objects and selected traditional furniture evolving increasingly meaningful dialogues with contemporary and 20th-century design. Tastes will therefore evolve as cross-category, rather than be restricted by any one style or era. This is underlined by new tendencies in contemporary design, emphasizing craft and the hand of the maker alongside theoretical objectives. A humane appreciation of surface, texture, and patina is now as respected as structure and concept. Woven together, these diverse yet complimentary expressions will usher in new and exciting narratives for the domestic interior.” —Simon Andrews, Curator and Founder, Andrews Art Advisory

Curated Experiences Drive Sales

CHARLOTTE PERRIAND/ NUAGE BOOKSHELVES, 1956

Photo © Galerie Patrick Seguin

“Whilst global events posed some challenges for sectors of the wider art market in 2023, the design market has a natural resilience by virtue of its enormous reach across geographies and collecting bases. In addition to the dedicated design connoisseur market and its integral art market client base, the increasing role that design plays amongst fashion, luxury, and lifestyle buyers offers huge potential. One only had to visit Design Miami/ Paris to see and hear how fresh, considered, and curated concepts generate activity and foster growth. Buyers will and should continue to focus on the important criteria for acquisitions—learning about the makers, their work, approach, their critical acclaim, and wider desirability; for historic works, the provenance, condition, and originality are ever more vital. But opportunities for buyers are more likely in periods of flux and growth. Sellers who can present works in new ways that offer deeper meaning and relevance will continue to find success.” —Jeremy Morrison, Design Adviser and Founder, Morrison Modern Advisory

Passion Fuels Connoisseurship

CLAUDE LALANNE/ BUREAU CROCODILE, 2011

Photo © Galerie Mitterrand

“Although price corrections have taken place in 2023, the market remains strong, and we believe that 2024 should be a year of growth with interesting opportunities. But passion is the key element. Collecting is a journey that requires time and knowledge, and experts are here to help you train your eye and discover the specialities that interest you most. Every week, for example, our Christie’s offices are transformed by the specialties on display, enabling collectors, enthusiasts, and the uninitiated alike to discover a panoply of expressions with exceptional provenance—designers such as Pierre Chareau, Charlotte Perriand, Alberto and Diego Giacometti, Alexandre Noll, and Claude and François Xavier Lalanne. I think it's fair to say that the design market is not speculative, but rather a market for aesthetes, because collectors live with the pieces they buy. This is an important point, as it makes the market less volatile.” —Capucine Tamboise, Design Department Specialist, Christie’s

Bold Is Beautiful

CHRIS WOLSTON/ FLORA DESK AND ORO CHAIR, 2023

Photo © The Future Perfect

“As we approach the 20th edition of our fair in Miami in December, we are looking back over two decades of trends to inform what we do next and giving ourselves permission to make bold decisions. With more online platforms available for research, it expands our ability to host emerging designers and cultivate the development of talent stepping into the market while also supporting the highest caliber exhibitors of historic work. The opportunities have never been greater!” —Grela Orihuela, Design Miami/ Senior Vice President, Fairs

Expanding the Global Conversation

ALBI SERFATY X SAMY D/ THE WORLD ON MY SHOULDERS #3, 2023

Photo © Aqua Creations

“Moving into 2024, we expect to see a continued commitment from galleries, brands, and collectors to participate in international art and design fairs—with many traveling to multiple fairs a year—coming together to cultivate relationships and experience the best of design culture. Beyond the well established arenas, we are noticing demand for design and collectible design rising across the globe. Sometimes this is in conjunction with real estate development and vanguard architects; sometime it is entwined with the art world’s growth. Lately. there have been more conversations with collectors and enthusiasts from India in particular, as well as from the Middle East. The momentum has been growing over the past few years, but I suspect 2024 is the year that we will see unparalleled activations from Indian and Saudi design studios.” —Jen Roberts, Design Miami/ CEO