For more than three decades, Georgina Adam has been one of the art world's most respected journalists, documenting the people, power and economics behind the global market. As the author of Big Bucks, Dark Side of the Boom, The Rise and Rise of the Private Art Museum and NextGen Collectors and the Art Market, few people have witnessed as many of the defining moments that have shaped collecting today.

In this episode of No Reserve, Charlotte Stewart sits down with Georgina to explore where the art market goes next. Together they discuss the changing role of auction houses, the growth of private sales, guarantees, speculation, younger collectors, the financialisation of art, NFTs, online buying, transparency and why the biggest shifts in the market often happen quietly rather than overnight.

Rather than offering predictions, Georgina reflects on the patterns she has observed throughout a career spent documenting one of the world's most fascinating markets, and what those patterns might tell us about the future of collecting.

Whether you're a seasoned collector, an art market professional or simply curious about how the market continues to evolve, this is a conversation full of perspective, insight and decades of experience.

My guest is Margaret Barrett, whose career has taken her through some of the world’s leading auction houses, including Christie’s New York, Bonhams Los Angeles, Heritage Auctions and Julien’s Auctions. For more than 30 years she has been at the centre of the business of cultural memory, handling the objects, estates and collections that shape how we remember the icons of film, music and popular culture. She is now preparing for the Marilyn at 100 auction at Juliens in June to celebrate Marilyn’s 100th birthday.

In this episode, Charlotte Stewart sits down with Gil Vazquez, former Executive Director of the Keith Haring Foundation, for a conversation that begins not in an institution, but in a T-shirt shop on Astor Place in 1988, where a 17-year-old from uptown New York first stepped into the orbit of one of the most influential artists of the twentieth century.

What follows is not a retrospective, nor an institutional account of legacy management, but something far more unusual, a first-hand exploration of what it actually means to be close to an artist, and then to spend decades carrying that proximity forward as their work moves from studio, to street, to global culture.

Gil traces a path that begins in downtown New York at the intersection of club culture, street art, and self-expression, a world defined not by fashion but by style, not by hierarchy but by access. From those early encounters with Keith Haring, in a studio that felt more like a cathedral than a workplace, the conversation moves into the realities of scale, how an artist’s work expands beyond its original context without losing its charge, and what happens when radical ideas about access collide with the structures of the art world.

Throughout, Gil is thoughtful, precise, and deeply grounded in experience, offering a perspective that sits outside the usual art market narrative. Instead of focusing on transactions or institutions, the thread is something more human, how art travels, how it reaches people, and why certain images endure across generations, from subway walls to T-shirts to the drawings of children who may not yet know the name behind them.

The episode explores the tension between access and scarcity, the radical nature of the Pop Shop at its inception, and the complexities of licensing in a world where images circulate faster than ever. It also moves into more personal territory, into friendship, into responsibility, and into the challenge of preserving an artist’s spirit without turning it into something fixed or overly controlled.

At its core, this is a conversation about legacy not as something static, but as something active, shaped by decisions, by care, and by an ongoing commitment to the values that made the work matter in the first place.

Because if art is to remain alive in the world, the question is not only how it is made, but how it is carried forward.