Art market

from Wikipedia, the free encyclopedia

As art market the totality of today galleries , art fairs , collectors exchanges or auctions referred, in which works of art of the visual arts are in circulation. An art market in today's sense first emerged in the Netherlands in the 17th century .

Thematic aspects

The acquisition of art has many causes and ranges from the support and promotion of artists by patrons and the state , to the commitment to an art style, to the status symbol , through whose possession one demonstrates superior taste . The ideal value also plays a role. The “forces of the market” take on the task of determining the economic value of a work of art. The promotion of art by the state is part of the public promotion of culture ; In Germany this was 9.6 billion euros in 2010.

The change from an art object to an object of speculation and investment can make works of art more expensive for state museums. In some areas, private collectors, as lenders or donors of entire collections, increasingly determine which art is on display in museums. One example is Henri Nannen's foundation for the Kunsthalle in Emden .

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Conditions and consequences of the art market are discussed in art criticism or art theory and are also part of artistic counter-strategies, for example through works that are fleeting and remind us of transience; that dissolve, mold or rot, as in the case of Joseph Beuys or Dieter Roth - two artists who, however, are themselves highly traded today.

The media coverage is usually limited to individual phenomena, especially auction results and less to the art market in general.

Lesser-known artists try to use the techniques of serial production, usually producing a limited number of prints or copies and each individual copy being personally signed. This can increase the level of awareness, even if the individual pieces can be sold at a slightly lower price. This type of distribution has basically existed since the invention of lithography .

Investment, Speculation, Value, and Pricing

The international art market had a volume of around 43 billion euros in 2010. per year.

Sometimes prices are also based on a trend, an art movement that has become “fashionable”, which can fall again or disappear completely as quickly as it came. In the acquisition of art, especially by contemporary artists, there are therefore enormous opportunities and risks. Almost half of the 400 Berlin galleries are making losses. It can be invested in art such as stocks , precious metals , antiques, or land. Some of the lightning careers of young artists are like issuing shares in the New Economy . In general, however, there is an extreme concentration of demand on the best-known artists ( blue chips ) at the expense of the lesser-known, and prices diverge widely. Favorites of the art market in 2013 were the Briton Francis Bacon (1909–1992), the US artist Jean-Michel Basquiat (1960–1988) and the German Gerhard Richter (* 1932). Speculative buying collectors have a great interest in increasing reports on the artists who achieve high prices. In recent years, collectors from China, the Arab world and Russia have been driving prices up. Tax evasion and money laundering are common. One trend is the storage of art in specially temperature-controlled and secure warehouses in Switzerland and Luxembourg. Important art markets are the USA, the People's Republic of China, Great Britain, France and Germany.

When speculation also play art fakes a role. Experts assume that 40–60% of the works offered in the art trade can be counterfeit.

Actors in the art market

The art market is mainly determined by the following protagonists or institutions in or for which it works:

  • The artist : initially freelance with no sales prospects, he then discovers gaps in the market and uses strategies for self-marketing. Sometimes accidental encounters with collectors, gallery owners, etc.
  • The art agent : in the 1960s the profession of professional art agent developed. This mediates for the artists between galleries, collectors, museums and fairs. Public relations and receivables management are also frequently carried out for the artist. Art agents usually participate in the artist's turnover or work on a budget.
  • The art critic : in the 1940s, 1950s and 1960s his criticism of the works or exhibitions of an artist expressed in the public media was able to enforce or remove the artist from the market; At the end of the 20th century and the beginning of the 21st century, the power of the art critic waned. However, today's reviews still help collectors to use their money sensibly, to be careful of frauds and imitations and to distinguish superficial, gimmicky trends and short-lived fashions from works with substance.
  • The gallery owner : he develops a specific concept and gallery program, presents and markets the artists. He also supports collectors in building their collections. The primary market gallery mostly looks after new, young artists and mainly sells “studio fresh” works. The economic importance is controversial, as patronage also plays a role here .
  • The art dealer : he is mainly active in the secondary market, i. H. he buys works that already have a previous owner and are no longer “fresh from the studio”. The art dealer is usually considered to be a specialist in certain epochs or artists. His sources of supply are mainly private collectors or art auctions. The works acquired in this way are usually restored , re-framed and, in some cases, scientifically researched before they are offered for sale again at art fairs or as part of our own exhibition. In the last few years in particular, the boundaries between galleries and the art trade have continued to blur. Numerous galleries are now buying works on the secondary market and art dealers are presenting works that come directly from the artist's studios.
  • The art advisor : he is the mediator between the collector and the gallery or between collectors. Since he himself is not necessarily linked to a gallery, he gives the collector an overview of the market when he enters, advises him before and during purchase decision processes as well as when putting together his collection.
  • The private art collector : he often specializes in one topic or follows certain tendencies . It is often important to him to develop the expertise himself, for which he spends a lot of time; it is often wealthy people who have passionately fallen in love with art. Most large private collections were created this way, and financial intent is rarely the driving force. New groups of buyers from China , India and Russia have the potential to change the market significantly.
  • The expert in auction houses: he closely observes the market, appraises the works of art offered to him and puts them together for the respective auctions of his house. In contrast to the gallery owner, it is not the task of auction houses to promote young, unknown artists; rather, they proceed according to purely commercial intentions. It is here that the spectacular works that set records for price and public attention often appear.
  • The director and the curator of museums , foundations , institutional collections or exhibitions : these people decide on the focus of a (public) collection, exhibition concepts, acquisitions of works of art and their incorporation into museum and work holdings. This gives these works of art public acceptance; the works of the respective artist usually increase in value as a result.

See also

Bibliography

  • Merten, Hans-Lothar: Nice appearance. Behind the Scenes of the Art Industry , Midas Verlag, Zurich 2017, ISBN 978-3-907100-87-5
  • Nowikovsky, Jacqueline: The Value of Art: $ 100,000,000? , Czernin Verlag, Vienna 2011 ISBN 978-3-7076-0355-2
  • Polleit Riechert, Ruth: Price Development and Marketing in the Contemporary Art Market of the 21st Century from 2000 to 2007 . Publishing house Dr. Kovac, Hamburg 2013, ISBN 978-3-8300-7350-5 .
  • Pues / Quadt / Rissa: ArtInvestor - Handbook for Art and Investment ; Finanzbuchverlag, Munich, ISBN 3-932114-74-4
  • Stahl, Sebastian: Value creation in contemporary art - To: Young German Art , research report of the Institute for Macroeconomics of the University of Potsdam 2009, ISBN 978-3-9812-4222-5
  • Watson, Peter: From Manet to Manhattan, The Rise of the Modern Art Market London 1992, ISBN 0-09-174004-5
  • Zahner, Nina: The new rules of art. Campus, Frankfurt am Main 2006, ISBN 978-3593380384 .
  • Zembylas, Tasos: art or non-art. About conditions and instances of aesthetic judgment. Vienna, 1997, ISBN 3-85114-315-9

Web links

Wiktionary: Art market  - explanations of meanings, word origins, synonyms, translations

Individual evidence

  1. ^ Michael North: Art and Commerce in the Golden Age. On the social history of Dutch painting in the 17th century. Cologne 1992.
  2. ↑ Kulturfinanzbericht 2018 , accessed on April 16, 2019 at www.destatis.de
  3. ↑ Information from the European Fine Art Foundation. ( Memento of the original from February 29, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved January 23, 2012 @1@ 2Template: Webachiv / IABot / www.tefaf.com
  4. ↑ Claudia von Duehren: The Berlin art market is hotly contested. In: bz-berlin.de , August 30, 2014, accessed on August 31, 2014
  5. ↑ Philipp von Rosen: Article art dealer and art market. In: Metzler Lexikon Kunstwissenschaft , ed. by Ulrich Pfisterer, 2nd edition, Metzler, Stuttgart / Weimar 2011, ISBN 978-3-476-02251-6 , p. 258 ff., here p. 258
  6. ↑ a b Christoph Rottwilm: Art prizes do not reach their limits. (Interview with Hans Neuendorf) In: manager-magazin.de , February 28, 2012, accessed on May 28, 2012
  7. ↑ Matthias Thibaut: The monopolists. In: handelsblatt.com , February 16, 2013, accessed on February 16, 2013
  8. ↑ Sarah Thornton: Eight reasons why I no longer write about the art market. In: Süddeutsche Zeitung , 3./4. November 2012, p. 19
  9. ↑ J. Emil Sennewald, Tobias Timm: In the bunker of beauty. In: zeit.de , April 24, 2013, accessed on August 20, 2013
  10. ↑ Annegret Erhard: The secret museums in the Niemannsland. In: welt.de , August 31, 2014, accessed on August 31, 2014
  11. ↑ Dennis Kremer: Art beats the Dax. In: faz.net , January 26, 2015, accessed January 26, 2015
  12. ^ Nils Graefe: Die Landeskriminaler. Expert for art forgeries from the LKA. (Welzheimer Zeitung, June 16, 2014. Online .)
  13. ↑ The international market for contemporary art. Retrieved September 22, 2019 .