In this article, you will find a detailed analysis and overview of a new tool that allows you to assess the impact of the war on the forests of Ukraine.
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Ukrainian art is rapidly conquering the international market, becoming an interesting direction for investment. The works of Ukrainian artists are distinguished by their uniqueness, affordable prices and great potential for value growth. The modern art market of Ukraine is in a stage of active development, offering new opportunities for artists, collectors and investors. Investing in Ukrainian art is a way to support culture and provide profitable investments.
The modern world offers many opportunities for creative people. The art market is not only open, but also actively looking for new talents. Today, paintings have ceased to be just an interior decoration or an object for aesthetic pleasure. They have become an investment tool, a status symbol and even a way to change your life. Many people demonstrate by their own example how you can earn money from your creativity: by selling paintings online, participating in international exhibitions or creating unique art projects. Their stories inspire and prove that it is possible not only to find a buyer, but also to build a successful career in the art sphere.
These examples can become a source of inspiration for you too. Each of us has a unique story, and your works can find their admirer among thousands of people in different parts of the world. Imagine that your creativity, which is now lying in a drawer or remains just a hobby, can change your life. The Internet opens up the opportunity for artists to directly sell their works, build a personal brand and find fans among a wide audience.
Today we live in a time of rapid technological change, and artificial intelligence (AI) is becoming an integral part of every sphere of life, including art. If earlier artists created their works exclusively by hand, now technology is opening up new horizons. AI allows you not only to automate processes, but also to experiment with new shapes, colors and compositions. It is a tool that can enhance your creativity and give you the opportunity to create unique works that are difficult to imagine without technology.
Integrating AI into your creative process can be a crucial step to stand out from the rest. Programs based on artificial intelligence help you generate ideas, create concepts or even interact with your audience through digital platforms. For example, creating NFTs based on your works or generating digital art projects using AI is something that is not only relevant, but also profitable.
Now is the time when it is important not to be afraid of change and use all available technologies. AI is not a competitor to your creativity, but an ally that will help expand your capabilities. Applying it to your work can take you to the next level and provide a significant advantage in the art world. Now is the time to act, experiment, and innovate to not only keep up with the times, but also to stay ahead of them.
Art is an investment. At first glance, it may seem that it is of interest only to a narrow circle of connoisseurs. However, contemporary art becomes accessible and understandable due to the meanings embedded in each work. In addition to aesthetic pleasure, art is considered a “safe haven” for preserving capital. Its value often grows faster than inflation, multiplying the invested funds, which makes it a profitable object for investment.
Investing in Ukrainian art is not only supporting culture, but also a way to preserve and popularize the work of artists who are forming a new Ukrainian artistic tradition. Many contemporary Ukrainian artists have already been represented at international exhibitions, but the prices for their works remain significantly lower than those of their colleagues abroad. This is a real rough diamond, which in the future can become a source of significant profit.
Today’s art market in Ukraine has had stable dynamics since independence. It is gradually expanding, opening up new opportunities for artists and those who seek to invest in their work. Ukrainian art is already a promising investment that combines aesthetic pleasure with financial gain.
According to art manager Erika Bryn, the Ukrainian art market is still in its infancy. As a legacy from Soviet times, Ukraine received a “gray” market, where art that did not meet the canons of socialist realism was mostly sold on the “black market”. Only with the acquisition of independence did a legal art market begin to form, which has been actively developing over the past 15–20 years. In 2022, according to Bryn, there was a real peak of interest in Ukrainian art, which contributed to its further development and integration into the global art space.
“Despite all the horror of the Russian invasion, we can confidently say that 2022 is a year of euphoria around Ukraine. A year when everyone — both foreigners and citizens — said: “We want Ukrainian for our home, for our collection.” This year, the attention of foreigners was maximally focused on everything that was happening in our country, in particular, our art and culture. Especially Lviv, due to its geographical proximity to the western borders, hosted a large number of volunteers, reporters, and journalists. Then, foreigners from different parts of the world visited the “Green Sofa” almost every day. They asked, were interested, bought, and were amazed that a truly great culture had been “hidden” from them for many decades” — Erika Bryń.
But at the same time, experts call the war the biggest problem for the development of the art market.
“And I see the future of the Ukrainian art market. It will develop. Here the question is simply global, what is the future of Ukraine in general, and what will it be in general in principle. The art market needs certain conditions – stability. That is, for artists to understand what to do: stay in Ukraine or go abroad, where to work, where to live. If there were no war, then I see the future of the Ukrainian art market as very promising. But since there is such a factor as war, it has a great impact. In general, I really believe in the Ukrainian art market. I see great prospects in it,” says Oleg Vasylenko, a collector of contemporary art, curator.
“Many works are sold from private collections. Yes, we do not have a museum of modern art in Ukraine, as an institution that would form a price range for Ukrainian modern art. There is no permanent exhibition of Ukrainian modern art, for example, as there is in New York. There, the institution is engaged in forming the price for its artists, for the collection that fills this museum. Here, the price is formed differently, it is formed by the artists themselves. They set the price for their works themselves. The price is formed by the dealers who sell the works” — Oleg Vasylenko.
However, another important aspect that influences the value of works of art is the artist’s recognition or brand. Collector Yuriy Komelkov draws attention to this:
“You can put any price on the work of any artist and it will never be sold. But the situation is completely different when the artist becomes a brand. For example, Marchuk is a brand, Nazar Bilyk is already a brand. A brand costs a lot of money. Just like Andy Warhol costs on the world market. There, the work costs nothing, but his name costs a lot. There are many such examples – any work that appears there costs a lot. For example, our Kazimir Malevich. I guarantee you: any work that appears will be $100 million plus,” – Yuriy Komelkov, head of the NGO “Museum of the Avant-garde”.
Regarding changes in the market, experts have different views – some believe that it is in a state of de facto freeze.
“In the beginning, when the large-scale invasion began, people became interested in cultural heritage. But in terms of acquisition, the situation did not improve even then. In general, the prices of Ukrainian artists have hardly changed at all over the past two years. The market has frozen a little, and therefore the prices remain at the same level. This is a normal situation. After the war, they should increase,” — Anna Godun, gallery owner.
Yuriy Komelkov singles out graphics as one of the areas of art whose value will increase. At the same time, he advises paying attention to other types, in particular sculptures made of glass, plastic, and synthetic materials:
“The same Nazar Bilyk started working in glass, plastic, and started working in synthetic materials. And this is not a traditional technology for sculpture, because before it was bronze, stone, or wood, but now everything has changed. And these new directions are in the greatest demand from collectors and command the highest prices. There are very few artists like Nazar Bilyk, so the demand is crazy. It’s hard to invent anything in painting now, to be honest. Everything has already been invented. But there are certain artists – that same Kryvolap – he is a fantastic artist who works with color. Marchuk, who invented plyontanism. These are unique things that the world does not have, but Ukraine has,” says Yuriy Komelkov.
A vivid example of support for Ukrainian art and the growing interest in it was the exhibition “Kaleidoscope of (Hi)stories”, which was held in Dresden, Germany, from May to September 2023. It presented dozens of works by Ukrainian artists created between 1912 and 2023. An equally significant event was the exhibition “Beast of War, Bird of Hope”, which took place in February 2023 in Washington. It presented works by Ukrainian artists created during and after the full-scale Russian invasion.
There are also examples of international support for Ukrainian art. For example, in 2022, the European Union, through the Creative Europe program, allocated €5 million for the preservation and development of cultural heritage, helping artists and cultural organizations to continue their activities in Ukraine.
A more recent example is 2024, when UNESCO announced the funding of 14 new projects in Ukraine, four of which are aimed at supporting the creative sector. In addition, the Netherlands has resumed the Ukrainian Artists Support Program, which provides funding for artists, giving them the opportunity to continue their creative activities in the fields of film, performing and visual arts, as well as other cultural areas.
Two main factors influence the price of artworks: the name of the artist and the uniqueness of the work. This is a generalization that art experts, gallerists and art managers give. The more recognizable the artist and the more unique his work, the higher its value. However, this is only a simplification, since the realities of the art market are much more complex.
According to the global artbasel study for 2024, the global art market is estimated at 65 billion US dollars. The largest growth in sales (11%) was demonstrated by galleries and dealers with a turnover of less than 500 thousand dollars, while those with a turnover exceeding 10 million dollars experienced a decrease of 7%. This indicates the growing caution of buyers regarding expensive works.
Regarding the Ukrainian art market, the minimum cost of a work to enter the category of investment art is currently approximately $ 2,000. This amount is not only an entry threshold, but also a benchmark in contemporary art, indicating stable demand for artists’ works and the potential for their price growth.
“The price of art is usually based on objective factors, encrusted with subjective factors. That is, some are easy to predict, and some are almost impossible. And this must be taken into account. Objective indicators are sales at auctions, representation in public and museum collections, exhibitions in serious galleries. Subjective factors include media activity, participation in public events and discussions, the relevance of the topics raised, and influence on public opinion.
Our partner analysts from the Molfar agency tried to assess both objective and subjective factors, and we got, in my opinion, a fairly realistic picture of which Ukrainian artists are currently at the forefront and who are most interesting for collectors,” says Natalia Tkachenko, founder and SEO of Spilne Art.
The emotional buying factor plays an important role in art. A striking example of this was 2022, when, according to art experts, international interest in Ukrainian art increased sharply.
The rise in art prices is due not only to emotional reasons, but also to changes in the market, such as increased interest from collectors or the appearance of new works at auctions that attract the attention of the public and critics. Thanks to a significant share of online sales, art is becoming more accessible to a wider range of buyers, which also contributes to higher prices. Online auctions and sales are increasingly influencing the development of the market.
“In a falling market, you have to buy. This is an obvious fact. In fact, right now I would argue with optimism and believe that we are not growing as a market in general. But that’s good. The Ukrainian phenomenon will be interesting one way or another. Regardless of how our fate develops. I would encourage those who are interested to buy. But it should be public – we need to take it to exhibitions, show it where we will be with European artists. In principle, now is a good time to buy,” says Olga Sagaydak, an expert on cultural heritage, chairwoman of the Board of the Coalition of Cultural Activists, during a discussion at the presentation of the study at kmbs.
Ukrainian art has significant development potential, which is becoming increasingly evident. Over the past decades, it has gradually emerged from the shadows, and the art market has become more stable and attractive to investors. However, 2022 was a turning point: a full-scale war drew the attention of the whole world to Ukraine, causing a surge of interest in its culture and art. Prices for works by Ukrainian artists have increased sharply, and although the wave of excitement has already subsided, international interest in Ukrainian art remains stable.
Despite the temporary pause in the market caused by the war, Ukrainian art continues to find its way to international exhibitions and cultural events. This allows maintaining interest in the work of Ukrainian artists, confirming their unique style and long-term potential. Current trends show that the works of Ukrainian artists are increasingly being presented abroad – in the EU countries and, increasingly, in the USA.
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