Articoli taggati con ‘art market’
Price-fixing models for art fairs: reflections on sustainability.
The contribution highlights the main insights of my M.Sc thesis’ research conducted in 2019. It focuses on the widely debated art market issue of the ever more unsustainable costs for the small-medium sized galleries to attend art fairs. Even though their centrality for the galleries’ growth and market affirmation, something has started to change. In fact, the involved actors have denounced an art fairs’ scenario whose participation costs increased at the point for which it became almost impossible to obtain valuable economic results. The situation is exacerbated by the existing booths’ purchasing system. According to this and to the standard art fair’s format with different sections where the galleries are included, the actors in the same section spend the same amount per square meters/feet not considering their effective heterogeneity. Then, they are forced to sustain costs not proportionated to their real economic capacities. Despite the adoption of some progressive measures, the art fairs still seem unable to develop a system reflecting the participants’ diversity. Thus, the research aims to dwell on the art fair business model with a focus on the booths’ purchasing system, hypothesizing the introduction of a pure progressive mechanism for which each one would pay according to what it has. The study has been conducted relying on a review of existing literature about the business model and its application in the Creative and Cultural Sector (CCS). Then, it has been done interviews to 3 selected art fairs’ directors, aimed at reconstructing the art fair business model, and to 4 contemporary art gallerists, evaluating the proposal and discussing the art fairs’ functioning. The directors’ interviews have been done submitting the questions via mail, while the gallerists have been met personally. The study hopes to lay the foundations for more structured contributions in this field and to stimulate the debate on the way to do business in the art fairs’ environment.
Taxation and the Art Market
The Italian art market grows poorly and, in any case, more slowly than the world market. One of the reasons for this stagnation is undoubtedly the presence of an anachronistic tax legislation that seems to respond to mere revenue logics. By contrast, an equal and forward-looking tax system of the art market could be instrumental in making a significant contribution to circulating works of art and offering new growth opportunities. Tax policies may be an effective instrument to support the cultural activities of individuals or entities by means of incentives and a favorable tax regime. If the main purpose of a tax system is to earn revenues, this does not prevent the governments from lawfully pursuing objectives not having a strictly fiscal character but rather a social or an economic nature at the same time. The tax regime of the art market gives origin to different issues in accordance with the diversified nature of acts and situations (purchases, supplies or possession of the works of art) taken into consideration by the legislator as well as with the legal form of the interested parties (natural or legal persons, VAT taxpayers or not, and so on). The main issues concern VAT, inheritance tax and income taxation.
Art Market in Western Balkan
Western Balkan as the art market space presents an abstract construction in the cultural policy discourses of Serbia, Bosnia and Herzegovina, Albania, Montenegro, Macedonia and Croatia, approaching this concept in a relativistic way and changing the relationship between arts and economy depending on the socio-historical context. Thus, during the 1990s in the countries of the region prevailed cultural policies fostering the idea of national identity and based on the instruments mainly focused on local artists and their position on the national art scene. Beginning of the 21st century brought a shift: opening of national cultures to the world of art trends and building cultural policy between the need to support universal art projects and those shaping an environment of national cultural existence. Balance between the hidden nationalism and openness, primarily towards the European Union marked the first decade of this century. The Western Balkan’s art market has not experienced major transformations, remaining marginalized in the public policies’ discource. The period from the late 1980s and early 1990s was characterized by a significant share of state firms, co-financing the most important events in visual arts, and creating large state-owned collections of exceptional artistic and historical value too (JAT, Invest Bank, Jugobanka, Beobanka, Dunav Insurance Company, INA, etc.). Art market was encouraged with purchases made by the state, and significant demand was created by representatives of the higher middle class who have followed exhibition policies of major galleries in Yugoslavia and had a decent knowledge about the art tendencies.
Is culture “the new black” or the “last ideology”?
Europe is, nowadays a little weird concept, that assumes, day after day, everchanging Non-Euclidean shapes: Brexit, NGOs, boundaries and immigration are at the top of the Agendas of a Union that would have preferred pursuing objectives such as the “smart, sustainable and inclusive growth”. In this widespread confusion it seems that Culture should be the new philosopher’s stone or, adopting a more common language it seems that Culture should be the new black. There are no serious public interventions that do not underline, at least once, the role of culture for the development of a town, of a country or of the European Union in its whole. Indeed, according to our policymakers, culture is: a) The key for a new “multicultural” Europe; b) An important economic sector that could prompt the development of backbones territories; c) The next new-thing of financial market and, finally, d) The real answer to both the immigration challenge and the brain drain phenomenon. There are no doubts that culture could play an important role in all these processes but a more realistic framework is needed.
Art Market in Western Balkan
Western Balkan as the art market space presents an abstract construction in the cultural policy discourses of Serbia, Bosnia and Herzegovina, Albania, Montenegro, Macedonia and Croatia, approaching this concept in a relativistic way and changing the relationship between arts and economy depending on the socio-historical context. Thus, during the 1990s in the countries of the region prevailed cultural policies fostering the idea of national identity and based on the instruments mainly focused on local artists and their position on the national art scene. Beginning of the 21st century brought a shift: opening of national cultures to the world of art trends and building cultural policy between the need to support universal art projects and those shaping an environment of national cultural existence. Balance between the hidden nationalism and openness, primarily towards the European Union marked the first decade of this century. The Western Balkan’s art market has not experienced major transformations, remaining marginalized in the public policies’ discource. The period from the late 1980s and early 1990s was characterized by a significant share of state firms, co-financing the most important events in visual arts, and creating large state-owned collections of exceptional artistic and historical value too (JAT, Invest Bank, Jugobanka, Beobanka, Dunav Insurance Company, INA, etc.). Art market was encouraged with purchases made by the state, and significant demand was created by representatives of the higher middle class who have followed exhibition policies of major galleries in Yugoslavia and had a decent knowledge about the art tendencies.
The Market. Documents of Contemporary Art
Edited by Natasha Degen, “The Market. Documents of Contemporary Art” is an interesting anthology, which offers an interdisciplinary introduction to the evolution of the contemporary art market, its relation to value and its effect on artistic practice, taking into account different perspectives.
Fine Art and High Finance. Expert Advice on the Economics of Ownership
Written primarily but not exclusively for art investors, collectors and legal advisers, this book offers an interesting overview of the economic aspect of art ownership and at the same time could be considered a guide for those who want to invest in art.
Art of the Deal. Contemporary art in a global financial market
The book offers a complete picture of the art market and the growing connection between art and money, becoming an indispensable reading for all students, academics, professional players and passionate who want to know how the art market works.
Contemporary art fairs as new forms of cultural consumption and urban experience
Contemporary art fairs are commercial exhibitions where art dealers meet up over the course of several days at a specific event. Nowadays they are held around the world, offering attendees the opportunity to experience in just a few days what otherwise would only be possible by travelling all over the world. This study has selected some key aspects of the contemporary art fairs expansion, focusing on their historical background and on contemporary globalization aspects of the art system. While exploring the art fairs territory, the contemporary art system often finds common grounds with attitudes observed in more-encompassing cultural and creative industries. Art fairs, as many other cultural industry events, such as music and cinema festivals or fashion weeks, share the “show – spectacle” notion in the public culture. Within this context, some analogies can be made as regards the common networking necessities of these industries, but it is also worth highlighting the emergence of art fairs effectiveness in enhancing the contemporary arts and the consumption of creative products.
Art as an investment?
Pointing out similarities and differences that exist between art and other kinds of assets, Melanie Gerlis – the Art Market editor of The Art Newspaper – try to figure out an answer to the question whether art is a good investment or not.
An overview of the art sector
The art sector has a network structure, where actors operate in relationship with each other. But one must points out the fact that one individual can act in different roles or perform the tasks of various actor types.
Describe the role of collectors in the XXI century, in terms of effects on the art market, influence on artistic creation, diffusion and knowledge of artists and artworks
Collectors are different than donors who support the cultural production by giving money. Collectors are totally involved in the art market.
Collecting Art: the not-for-profit sector and the art market
Give an overview of the art sector through actors involved, missions, roles, ways of operating and relationships among them.
