JOURNAL ARTICLE

Local art auctioneers thrive despite global slowdown: Ongoing 'Buy Canadian' sentiment has helped Heffel Fine Art generate strong spring sales.

  • Published In: Business in Vancouver, 2025, n. 1866. P. 3 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Korstrom, Glen 3 of 3

Abstract

The article discusses the resilience of Vancouver-based art auctioneers, particularly Heffel Fine Art Auction House, amid a global slowdown in the art market. Despite a 12% decline in global art sales to approximately US$57.5 billion, Heffel reported strong performance, with high auction success rates of 89% in spring and 96% in fall 2024. The company attributes its success to a "Buy Canadian" sentiment, highlighted by a spring auction featuring exclusively Canadian artists, which generated over $22 million in sales. Smaller auction houses in Vancouver also report a robust market, particularly for Northwest Coast art, indicating a diverse and thriving local art scene. [Extracted from the article]

Additional Information

  • Source:Business in Vancouver. 2025/08, Issue 1866, p3
  • Document Type:Article
  • Subject Area:Visual Arts
  • Publication Date:2025
  • ISSN:0849-5017
  • Accession Number:187402165
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