Read e-book online Big Bucks: The Explosion of the Art Market in the 21st PDF

By Georgina Adam

ISBN-10: 1848221592

ISBN-13: 9781848221598

This hugely readable and well timed booklet explores the transformation of the trendy and modern paintings marketplace within the twenty first century from a distinct segment exchange to a globalised operation worthy an anticipated $50 billion a year.

Drawing on her own adventure, the writer describes in attention-grabbing element the contributions made via more than a few actors and associations to those contemporary advancements. The e-book makes a speciality of the improvement of public sale homes into globalised, frequently cutthroat ‘art business’ companies; the emergence and modi operandi of ‘mega-dealers’ and middlemen; the 'new frontier' of promoting paintings on the web; the unconventional alterations within the profile of paintings creditors; the phenomenon of the ‘branded’ artist and the explosion of paintings gala's. It addresses the adverse facet to the artwork market’s growth, fairly its loss of transparency and lightweight legislation.

The author’s attractive sort makes this informative textual content excellent for creditors, scholars, and an individual drawn to studying extra concerning the evolution of the unparalleled marketplace for artwork which exists this present day.

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Extra info for Big Bucks: The Explosion of the Art Market in the 21st Century

Example text

Matthew Carey-Williams, a director of White Cube in London, concurs: ‘Larry has his place in the history of this particular profession. ’59 And even Gagosian’s bitterest critics acknowledge that he puts on acclaimed, museum-quality shows – such as late Monet in 2010, Lucio Fontana in 2012 and a number of knockout Picasso exhibitions. Where Gagosian’s brilliance lies is not in nurturing artists – he usually lets other galleries do that – but in turning them into ‘brands’ just as his gallery is also a ‘brand’.

1633–4) to its owner. While he lost money at the sale – the work sold for just £29,000 – it achieved a record price, and the publicity generated more than compensated for the downside. Shortly after the sale, the Adoration was consecrated by being acquired from the winning bidder by London’s National Gallery, where it still hangs. However, this case was exceptional and it was only in the early 1970s that guarantees started to be used more regularly, notably by Sotheby’s to bag the Scull collection.

The personality of the dealer is crucial to the art trade. As a result, there are few dynasties in the dealer world: galleries often wither or lose their significance after the disappearance of their founder, and only rarely have children been able to carry on the flame. The great names of the past – Kahnweiler, Vollard, Duveen, Agnew’s, Lefevre, Arthur Tooth, Galerie Charpentier – are no more; legal problems have beset Wildenstein and Knoedler, with the latter closing in 2011 (see Chapter 8). The problem, then, is how to ensure the survival of the business: ‘This is the holy grail for all of us,’ said Marlow, at the time director of exhibitions at White Cube, ‘That you transcend your gener­ation, working with the artists you grew up with, and also finding younger, emerging artists.

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Big Bucks: The Explosion of the Art Market in the 21st Century by Georgina Adam

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