Harvard Club of the Palm Beaches
Megan Corcoran Locke
The Great Wealth Transfer: Tracking Wealth through the Art Market
Where is the world’s elite putting its money?
New data is emerging to suggest that the art market is increasingly being driven by the transfer of wealth from one generation to the next. Moving from the Baby Boomers to Generation X (1965-80), Generation Y (Millennials, 1981-96), and dare we say, Generation Z (1996-2010) transactions are increasingly influenced by the buying power of Gen X and Millennials. In 2023, Christie’s reported that 35% of all purchasers were first-time buyers, 34% of those being Millennials. At Sotheby’s, in the $1 million+ sector, Gen X became the most important demographic for the first time ever, overtaking the Baby Boomers. Younger generations are making their presence felt at the highest end of the market, accounting for an average of 46% of bidders on works by the top five artists.
Join us to examine the transfer of wealth and influence within the art and luxury market and take a closer look at changing and emerging trends, especially as younger generations take the wheel.
Wednesday, February 21, 2024
6:00 pm Networking Reception
(libations and light hors d'oeuvres)
7:00 pm Presentation
A must-see presentation for Young Professionals as well as Baby Boomers.
COST: Ticket include libations and light hors d'oeuvres
Harvard Club of the Palm Beaches Members: $10.00 per person
(Plus one allowed at the Member rate)
Non-Members and Guests: $20.00 per person
Consider joining! The Club's membership dues start at a modest $50 per year!
AT THE DOOR (cash or check ONLY)
Members/Non-members: $25.00 per person
THIS EVENT IS SOLD OUT!
This event will take place at the Old Palm Beach Post Office, thanks to the generosity of HCotPB's own Jeff Greene.
95 N. County Road, Palm Beach 33480
Megan Corcoran Locke is ArtTactic’s Head of Business Development and has been with ArtTactic in varying capacities since 2016, originally as part of the research team focusing on the Old Masters. Her continuing tenure at Stephen Ongpin Fine Art as Gallery Director has given her a range of experiences within the commercial art world, from sales and acquisitions, and investment, to collections management, as she has grown with the gallery from intern to director. She has guest lectured at Sotheby's Institute and been interviewed for podcasts and art publications. Before Megan's venture into the art world, she worked at Barclays Capital in fixed-income sales, honing her skills in research and analysis. Megan holds a Bachelor's in History of Art and Architecture from Harvard University and a Master's in Art Business from Sotheby’s Institute of Art.
Please contact Club Administrator, Tricia Wansor at HarvardClub.PB@gmail.com or 954-914-3148.