In 2025, less than 0.3 percent of auction lots generated almost 45 percent of global sales by value. Researcher Rachel Pownall says understanding this concentration could help cultural institutions build more resilient and diverse funding models.

Credits: Unsplash; Author: Chris Jones;

Pownall proposes several ways cultural institutions could reduce dependence on a small number of wealthy donors. Larger membership schemes, micro-philanthropy, community partnerships and long-term endowment funds could diversify support, while hybrid cultural investment funds could bridge public and private financing. The research suggests broader funding structures could strengthen institutional resilience and help preserve independence across the cultural sector.