How does the economic crisis affect UK art market from 2006 to 2011? Is art market a different area from the economic crisis? My research is aiming to gather and analysis data from two main auction companies in UK, in order to show the art market trend during the changing economic environment in UK. Furthermore, the article will try to demonstrate that art market remains independent from other economic factors, and by consuming fine art works and antiques is a stable way of investment. By collecting secondary data mainly from Sotheby’s, Christi’s of UK auction records, in addition, by undertaking interviews to stuffs from the auction company, first-hand and second-hand information will be acquired and applied in the research dissertation. Finally, in comparison with the traditional trade tunnels, the article will give clues to creative trade mode throughout the UK art market. Background: As Moulin (1987) indicated that the art market is the place that allows cultural goods exchange to a commodity. The art market includes a great range of collecting, buying and selling chances (Robertson, 2005). Based on the specialist departments at auctions like Christie’s and Sotheby’s, the items that are dealt on the market are classified to Ancient and Ethnographic Arts, Asian Arts, Books & Manuscripts, Ceramics & Glass, Collectibles & Memorabilia, Furniture & Decorative Arts, Great Estates, Jewellery, Paintings & Drawings & Sculpture, etc. (Resch, 2011). However, the state of art market is always governed by three factors which are the availability of art to sell, the world economic environment and the dictates of fashion (Taylor& Brooke, 1969). A recent report from The European Fine Art Foundation on global art market (Du, 2010) ... ... middle of paper ... ...edge. Spaenjers, C., 2010. returns and fundamentals in international art markets.[pdf] Available ar:< http://www.hec.unil.ch/documents/seminars/ibf/430.pdf> [Accessed 14 December 2011] Sociology at Surrey, 1998. Secondary analysis of qualitative data. [online] Available at: < http://sru.soc.surrey.ac.uk/SRU22.html > [Accessed 15 December 2011 ]. Moulin,R.,1987.The French Art Market. New Brunswick, NJ: Rutgers University Press. Taylor, J.R and Brooke,B.,1969. The Art Dealers. New York: Charles Scribner’s Sons. Turner, P. D.1997. Secondary Analysis of Qualitative Data. Proceeding of the Annual Meeting of the American Educational Research Association. Chicago:IL. Thorne, S. (1994). Secondary analysis in qualitative research: Issues and implications. In J.M. Morse(Ed.), Critical Issues in Qualitative Research Methods. Thousand Oaks, CA: Sage.
New York City is known for its extensive collection of art museums ranging from the Metropolitan Museum of Art which is usually the most renowned to others such as the the Solomon R. Guggenheim or the Whitney Museum of American Art which are popular in their own rights. This abundance of art museums makes the city very attractive for foreign visitors. However, this abundance of choice can overwhelm even the most informed visitors who have a finite amount of time to explore what the city has to offer. Although all of the above mentioned museums have great collections of their own, the often unheralded Frick Collections might trump them all in terms of exceptional works which include some of the world's most celebrated Western artists, such as Goya, Manet, Monet, Rembrandt, and Renoir.
“…the culture industry has brought about the false elimination of the distance between art and life, and this also allows one to recognize the contradictoriness of the avant-gardiste undertaking: the result is that the Avant-garde, for all its talk of purging art of affirmation with forces of production consumption, became an accomplice in the total subsumption of Art under capitalism.”
Often, collectors rely on art dealers when deciding whether an art work is 'good or not'. They are not very knowledgeable about how valuable a specific art work is. Valuation of an art work is made by some criterias .How much are the similar art works worth? Are there any artworks that can be bought or is this the final chance to have a Picasso in your home? Does any museum show interest such as MoMA? Or was that artwork owned by Charles Saatchi? Is it going to be auctioned at Sotheby's? All answers of these such questions helps determining the value of an art work. The network of the actors of art worlds should be analyzed for example if we were to study the phenomenon of skyrocketed prices of art works. However, where Becker's approach is not enough is that he believes there are different art worlds. Becker states, 'Art worlds typically have intimate and extensive relations with the worlds from which they try to distinguish themselves.' Even though they share resources, exchange ideas and they are part of a larger social organization, not everything is shared and this is one of the main reasons that generates a curious economics phenomenon of the art markets. We should try to find a balance between researching every aspect of the complex cooperative network of art creation and limiting the research to a specific
According to Tocqueville in aristocratic times the purpose of creating the arts was to produce the best artwork spending a great amount of time on it perfecting it and selling it for a high price. However, in today’s society the way to get rich is to sell your artwork for a cheaper price by manufacturing more quantity but with cheaper materials less in value, reproducing the artwork quicker and cheaper. Today all ranks of people can afford to buy a replicated artwork, which can easily be mistaken for the real thing. They are so highly perfected it is hard to tell apart what is original and what is not. They are many artistes today however; the quality of the production has
Pickford, James. "Rich Collectors from China Switch Spending Power to Western Art." Financial Times. The Financial Times Ltd., 29 Nov. 2013. Web. 08 Dec. 2013.
“Duncan’s (1991) article provides an examination of western museums as a vehicle for the “modern state” to project imperialistic values over art objects of the Third World. The American/European art museum is a type of “temple” that is used to ritualize western art objects as a projection of modernity over the “primitive” art of Third World cultures.”
The author could have employed other methods of qualitative research such as, narrative analysis, grounded theory, discourse analysis, data display and analysis, content analysis and quantifying qualitative data and computer assisted qualitative data analysis software (CAPDAS) (Saunders et al., 2016). Nevertheless, these approaches seem cumbersome sometimes and take a long time to complete (Willig, 1999; Braun and Clarke, 2006 and Smith and Bekker,
Recently the major countries that were part of WWII are starting to try and push for museums to send back the stolen art to their rightful owners. With the millions of pieces that were stolen during WWII the number of pieces that have not been returned to its heirs is well over 100,000 pieces of art and most of them are currently missing.("Nazi Plunder," n.d.) To help return stolen art, museums search through all of their art to check if any of it was stolen during WWII. Currently though the progress has stopped for returning stolen artwork back to its rightful heirs, because the museums are refusing to give back some of the more major pieces of art. Also the lack of knowing who the art truly belongs to is also slowing down the
In the article “Conditions of Trade,” Michael Baxandall explains the interaction serving of both fifteenth- century Italian painting and text on how the interpretation of social history from the style of pictures in a historical period, pre-eminently examine the early Renaissance painting. Baxandall looks not only on the explanation of how the style of painting is reflected in a society, but also engages in the visual skills and habits that develop out of daily life. The author examines the central focus on markets, material visual practices, and the concept of the Renaissance period overlooking art as an institution. He observes a Renaissance painting, which relate the experience of activities such as preaching, dancing, and assessing. The author considers discussions of a wide variety of artistic painters, for instance, Filippo Lippi, Fra Angelico, Stefano di Giovanni, Sandro Botticelli, Luca Signorelli, and numerous others. He defines and exemplifies concepts used in contemporary critic of the painting, and in the assembled basic equipment needed to discover the fifteenth- century art. Therefore this introductory to the fifteenth- century Italian painting and arise behind the social history, argues that the two are interconnected and that the conditions of the time helped shape the distinctive elements in the artists painting style. Through the institutional authorization Baxandall looks at integration in social, cultural and visual evaluation in a way that shows not only the visual art in social construction, but how it plays a major role in social orders in many ways, from interaction to larger social structural orders.
In the article “Conditions of Trade,” Michael Baxandall explains that fifteenth-century Italian art is a “deposit” resulting from the commercial interaction between the artist and the purchaser, who he refers to as a client. These works, as such, are “fossils of economic life,” and money, and they play an important role in the history of art. In our current perception of the relationship between the artist and art, “painters paint what they think is best, and then look around for a buyer” . However in the past, especially during the Renaissance period, the customers determined the content and form of paintings, as it was them who commissioned the work before it was created. He states that the artists and clients were interconnected and a legal agreement was drawn up specifying subject matter, payment scheme and the quality and quantity of colors, which would influence the artist’s painting style. Baxandall not only looks at the explanation of the style of painting that reflects a society, but also engages in the visual skills and habits that develop out of daily life. The author examines the situations between the painter and client within the commercial, religious, perceptual, and social institutions, centrally focusing on markets, materials, visual practices, and the concept of the Renaissance period, which saw art as an institution. Baxandall notes that Renaissance paintings also relate to the clients’ motives through such ways as possession, self-commemoration, civic consciousness, and self-advertisement. The author considers works of a wide variety of artistic painters, for instance, Filippo Lippi, Fra Angelico, Stefano di Giovanni, Sandro Botticelli, Luca Signorelli, and numerous others. He defines and exemplifies fiftee...
This paper deals, in broadest terms, with the questions of how artwork is connected to the changes and dynamics that prevail in a society. To describe these changes, I will investigate how a specific type of art reflects its social content in contemporary societies. My analysis is carried out by closely looking at the Pop Art movement, especially with Andy Warhol, who has come to be known as one of the greatest artists of the 20th century. It will be argued that Pop Art managed to successfully articulate its time, and in so doing, it became a widely influential art movement whose effect is still very much existent in today’s world of art. In order to prove its claim, this paper relies on the theory of “the field of cultural production” by Pierre
Fisher, I. (2007, April 22). Affordable Europe | Rome; In the Eternal City, Priceless Art for No
One notable aspect in the Romanian museum market is that, whilst the number of museum visits recorded a significant decrease (12 million visitors to 9.5 from 2007 to 2011), the number of museums has increased from 679 to 709 (Pârvulescu 2013), according to Mediafax . The museum market equilibrium was affected due to a drastic decrease in demand, although supply increased by 30 un...
For the recent last decades, art market has become very popular with a boom in total sale revenue worldwide. People start to participate and pay attention to the art world more interactively and frequently. For example, art institutions have gained more admissions than ever before; museum visits surged globally and more people are willing to pursue an art-related career. Generally speaking, art world is broader than the art market. The art world is a overlapping subcultures held by a belief in art. They spread out globally but cluster in art capitals such as New York, London, Los Angeles, Berlin, and the emerging market such as Hong Kong, Beijing and Dubai. The market refers to the people who participate in the art business transaction that is artists, first and second market dealers, curators, collectors and auction houses experts. However in the business operation side, dealers are responsible for channeling and deflecting the power of all the other players, while critics, curators and artists are not directly involved in commercial activities on a regular basis. Most importantly, the art world is a sphere that the cultures and art works themselves play the most fundamental parts while wealth and powers also have a crucial influence on market.
focused on the key qualitative research methods. For each article review, a brief description, guided by Myers (2013), and a critique, guided Pratt (2009), is provided. A summary of the five articles identifying the research method, data collection technique, data analysis approach and critique is provided in Table 1. The narrative review of each article coupled with figures and tables to organize and visualize thoughts (Pratt, 2009) follows the summary table.