scholarly journals Materialising Markets: The Agency of Auctions in Emergent Art Genres in the Global South

Arts ◽  
2020 ◽  
Vol 9 (4) ◽  
pp. 106
Author(s):  
Anita Archer
Keyword(s):  
Contemporary Art ◽  
Local Governments ◽  
Developing Economies ◽  
Supply And Demand ◽  
Art Market ◽  
Global South ◽  
Chinese Contemporary Art ◽  
Market Expansion ◽  
Auction Houses ◽  
Art Auction

For the last two decades, the international auction houses Sotheby’s and Christie’s have been at the forefront of global art market expansion. Their world-wide footprints have enabled auction house specialists to engage with emerging artists and aspiring collectors, most notably in the developing economies of the Global South. By establishing their sales infrastructure in new locales ahead of the traditional mechanisms of primary market commercial galleries, the international auction houses have played a foundational role in the notional construction of new genres of art. However, branding alone is not sufficient to establish these new markets; the auction houses require a network of willing supporters to facilitate and drive marketplace supply and demand, be that trans-locational art market intermediaries, local governments, and/or regional auction businesses. This paper examines emerging art auction markets in three Global South case studies. It elucidates the strategic mechanisms and networks of international and regional art auction houses in the development of specific genres of contemporary art: Hong Kong and ‘Chinese contemporary art’, Singapore and ‘Southeast Asian art’, and Australia and ‘Aboriginal art’. Through examination and comparison of these three markets, this paper draws on research conducted over the past decade to reveal an integral role played by art auctions in the expansion of broader contemporary art world infrastructure in the Global South.

scholarly journals Sustainable Management of Contemporary Art Galleries: A Delphi Survey for the Spanish Art Market

2019 ◽  
Vol 11 (2) ◽  
pp. 541 ◽  
Author(s):  
Alicia Mateos-Ronco ◽  
Nieves Peiró Torralba
Keyword(s):  
Contemporary Art ◽  
Delphi Method ◽  
Sustainable Management ◽  
Supply And Demand ◽  
Business Management ◽  
Art Market ◽  
Art Galleries ◽  
Economic Agents ◽  
Economic Markets ◽  
Spanish Art

The art market operates in a very different way from conventional economic markets, ranging from its behaviors of supply and demand, the trading of goods, and the economic agents intervening in it. In addition, it is a highly unregulated market, with very little standardized information in economic terms. This paper focuses on art galleries, which are the most influential intermediaries in the Spanish primary contemporary fine-art market and perform a role that goes beyond the mere distribution of works of art. This study develops and applies a prospective methodology based on the subjective information compiled by experts, known as the Delphi method, to identify and evaluate the factors that determine the current situation and future outlook for Spanish contemporary art galleries. The results show, on one hand, that the method employed constitutes a valid option to provide reliable information. In addition, they show that the survival of these organizations will depend on their ability to adapt to the changing conditions of the economic environment, reactivating and internationalizing demand, and redirecting their business model towards sustainable management by implementing appropriate business management models and techniques.

scholarly journals Evidence of Auction House Influence Over Buyer Behaviour and Price Formation in the Australian Art Auction Market

2009 ◽  
Vol 3 (1) ◽  
Author(s):  
Meaghan Wilson-Anastasios
Keyword(s):  
Empirical Evidence ◽  
Art Market ◽  
Price Formation ◽  
Market Development ◽  
Auction Market ◽  
Significant Control ◽  
Auction Houses ◽  
Buyer Behaviour ◽  
Scant Attention ◽  
Art Auction

During the last six months, there has been much discussion in the general and arts media about the manifestation of problematic practices within the Australian art auction market. Although the nature of these practices has been scrutinised, scant attention has been paid to how the methods and mechanisms employed by auction houses to build business during the art market boom that commenced in the late 1990s might represent a force that could undermine the sustainability of the market. Fundamental to this is quantifying the extent to which auction houses are able to influence market development. In this paper, I present empirical evidence that suggests that major Australian auction houses can exert significant control over buyer behaviour and price formation.

scholarly journals Inside and Outside the Market for Contemporary Art in Brazil, through the Experience of Artists and Gallerists

Arts ◽  
2020 ◽  
Vol 9 (4) ◽  
pp. 113
Author(s):  
Amanda Brandellero
Keyword(s):  
Contemporary Art ◽  
Art Market ◽  
Art World ◽  
Visual Artists ◽  
Roles And Responsibilities ◽  
Market Expansion ◽  
Market Consolidation ◽  
Global Art ◽  
Opening Up ◽  
World Development

In this paper, I seek to extend our understanding of global art markets by focusing on the relationships between different art world agents and their perceived responsibilities and roles in a market considered locally ‘incipient’ and emergent on the global scene. For this purpose, I draw on over 50 interviews with art gallerists, independent art spaces and visual artists represented by them, living in São Paulo and Rio de Janeiro, the two largest clusters of the contemporary art market in Brazil, at a time of market expansion and internationalisation. In an incipient market, two main functions are considered important: Developing the commercial circuit and opening up the market, and; enhancing the value of art in society. Such functions occur against the backdrop of a large and complex country, where the ‘eixo’ (axis) of the main cities offers greater opportunities for visibility and valorization. The findings help to elucidate the perceptions of responsibility and roles in a context of market development, as well as the emerging boundaries between culture and the market. Moreover, the paper explores the emerging dynamics and strategies of art world development as they are enacted, offering insights into how art market actors perceive their roles and responsibilities, as well as the strategies available to them to support market consolidation.

scholarly journals The Evolution of a Consolidated Market for Neo-Traditional Chinese Contemporary Art

Arts ◽  
2020 ◽  
Vol 9 (4) ◽  
pp. 121
Author(s):  
Iain Robertson
Keyword(s):  
Contemporary Art ◽  
Art Market ◽  
Global Market ◽  
Market Model ◽  
Modern World ◽  
Chinese Values ◽  
Chinese Contemporary Art ◽  
The Past ◽  
Shanghai School ◽  
Southern City

The purpose of this paper is to determine whether there is an incipient market in China strong enough to replace the global market for Chinese contemporary art. The (informal) market I have identified supports traditional methods of transaction and practice. It charts a course twixt slavish emulation of the past and unqualified acceptance of the present. To demonstrate the contemporary application of this trend, I introduce three case studies, which examine the attitude and behaviour of three Chinese artists active between 2005 and 2015. This period marks the transformation of China from an aspirant economic power to a self-confident advocate of Chinese values. The premise of this paper is that the China market today is moving towards a harmonious ideal rooted in Chinese thought. In the nineteenth-century art movement known as the Shanghai School, I have found a precedent for the evolutionary transformation of Chinese art from the traditional to the modern. This study will reveal how the Shanghai School market might be an exemplar for today’s Chinese contemporary art market. I will refer to this historical model to show how conventional methods of creation, distribution and consumption can effectively be modernised. Another effort to culturally transform China was attempted a generation later in the southern city of Guangzhou. The movement, known as the Lingnan School, attempted to fuse Western-style realism with Chinese techniques and media. I argue that these two early attempts to amalgamate the traditional with the modern failed to metamorphose into a consolidated Chinese contemporary art market model. They have, instead, resulted in the co-existence of two corrupted models; the one, a diffident fusion of the past and the modern world, and the other a concerted alliance of nationalism and globalism.

The ingenious marketing of modern paintings

2014 ◽  
Vol 6 (2) ◽  
pp. 211-233
Author(s):  
Thomas M. Bayer ◽  
John Page
Keyword(s):  
Exchange Process ◽  
Art Market ◽  
Late Nineteenth Century ◽  
Data Sets ◽  
Content Type ◽  
Secondary Sources ◽  
Auction Houses ◽  
Art Dealers ◽  
The Media ◽  
Eighteenth And Nineteenth Centuries

Purpose – This paper aims to analyze the evolution of the marketing of paintings and related visual products from its nascent stages in England around 1700 to the development of the modern art market by 1900, with a brief discussion connecting to the present. Design/methodology/approach – Sources consist of a mixture of primary and secondary sources as well as a series of econometric and statistical analyses of specifically constructed and unique data sets that list nearly more than 50,000 different sales of paintings during this period. One set records sales of paintings at various English auction houses during the eighteenth and nineteenth centuries; the second set consists of all purchases and sales of paintings recorded in the stock books of the late nineteenth-century London art dealer, Arthur Tooth, during the years of 1870/1871. The authors interpret the data under a commoditization model first introduced by Igor Kopytoff in 1986 that posits that markets and their participants evolve toward maximizing the efficiency of their exchange process within the prevailing exchange technology. Findings – We found that artists were largely responsible for a series of innovations in the art market that replaced the prevailing direct relationship between artists and patron with a modern market for which painters produced works on speculation to be sold by enterprising middlemen to an anonymous public. In this process, artists displayed a remarkable creativity and a seemingly instinctive understanding of the principles of competitive marketing that should dispel the erroneous but persistent notion that artistic genius and business savvy are incompatible. Research limitations/implications – A similar marketing analysis could be done of the development of the art markets of other leading countries, such as France, Italy and Holland, as well as the current developments of the art market. Practical implications – The same process of the development of the art market in England is now occurring in Latin America and China. Also, the commoditization process continues in the present, now using the Internet and worldwide art dealers. Originality/value – This is the first article to trace the historical development of the marketing of art in all of its components: artists, dealers, artist organizations, museums, curators, art critics, the media and art historians.

Institutional anomalies in the contemporary art market

1995 ◽  
Vol 19 (2) ◽  
pp. 187-197 ◽  
Author(s):  
Walter Santagata
Keyword(s):  
Contemporary Art ◽  
Art Market

Provision of public services by Slovak local governments - Case study social protection – old age: A supply demand mismatch?

2021 ◽  
Author(s):  
Tomáš Černěnko ◽  
Klaudia Glittová
Keyword(s):  
Regression Analysis ◽  
Old Age ◽  
Local Governments ◽  
Public Services ◽  
Social Protection ◽  
Supply And Demand ◽  
Descriptive Analysis ◽  
The Elderly ◽  
Provision Of Services

The aim of the paper is to describe the supply of public services in the field of social protection - old age (represented by expenditures in group 10, class 2 of COFOG classification) in relation to the demand for these services represented by the population in the age group 62+ related to the size and region of the local government unit. The analysis of supply and demand takes place at the level of individual local governments and the results are then presented in relation to the size of the municipality and the region. Two approaches were used for the analysis. The first focuses on the description of the current situation through the categorization of local governments according to the approach to the provision of services, and the second consists in regression analysis. The results of the regression analysis suggest that the size of the municipality and the region do not play as important a role in terms of access to the provision of the examined services as indicated by the first, descriptive analysis. To find a "pattern" for local authorities to decide on access to services for the elderly, further research will be needed that takes into account several socio-economic indicators.

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