Art auction

As the art market is today the totality of all galleries, art fairs, collectors' fairs or auctions refer to operations where art works of fine art are traded. A distinction between painting, sculpture and graphics. The international art market has a volume of around 43 billion euros (2010).

Investment, speculation, value and price formation

Supply and demand determine the market and so the prices of art, where the value of an artist but also depends on the reputation of its exhibition spaces and distinctions. At times prices also form the basis of a trend, a "fashionable" Art -down direction as it is just as quickly come, may fall again or disappear completely. In art acquisition mainly contemporary artists are therefore enormous opportunities and risks. It can be invested in art as in equities, precious metals / stones, antiques or land and some meteoric career of young artists is like a share issue of the New Economy. In general, however, there is an extreme concentration of demand on the most famous artists ( blue chips ) at the expense of the lesser known and the prices evolve far apart. Darlings of the art market in 2013 are about the Briton Francis Bacon ( 1909-1992 ), U.S. artist Jean -Michel Basquiat ( 1960-1988 ) and the German Gerhard Richter ( b. 1932 ). Speculative buying collectors have a great interest that is amplified reported the artists achieve the high prices. In recent years, especially collectors from China, the Arab world and Russia drive the prices up. Tax evasion and money laundering are common. A trend is the tax-exempt incorporation of art in specially tempered and secured warehouses particularly in Switzerland.

Art becomes the status symbol, by the possession of one superior taste or style demonstrates (as in the famous picture of the desk of the boss ). Market forces take over the task of defining the value of a work of art.

On the high art market art is, however, usually seen as a pure investment good and less acquired by ' pure Endkäufern ', but managed to hoped-for appreciation by art investors.

As a result of a growing trend towards privatization increasingly difficult places and institutions where art exhibited, collected, discussed or produced from public to private hands. The transformation from art to speculation and investment property more expensive works of art for publicly funded museums, private collectors are increasingly determining lending or founders of whole collections which art can be seen in the museums.

Conditions and consequences of the art market are discussed in art criticism and art theory and are also part of artistic counter-strategies, for example by working, which are volatile and are reminiscent of transience; dissolve, moldy or rot like Beuys and Dieter Roth - two artists who are, however, even the most traded today.

Actors on the art market

The art market is mainly determined by the following protagonists or institutions, or for which he has worked:

  • The Artist: first freelance without a sale prospect, he then discovered gaps in the market and uses strategies of self-marketing. Sometimes chance encounter with collectors, gallery owners, etc.
  • The art Agent: in the sixties of the 20th century, developed the profession of professional art agent. This mediates between the artists galleries, collectors, museums and exhibitions. Also, public relations and receivables management is often operated for the artist. Art agents are usually involved in the turnover of the artist or work on budget.
  • The art critic: in the forties, fifties and the sixties of the 20th century could enforce its view expressed in public media criticism to works or exhibitions of an artist these on the market or throw off the market; End of the 20th century and early 21st century, the power of the art critic has dwindled. However, today's reviews still help collectors sense to use their money to be wary of scams and counterfeiting and superficial to distinguish gimmicky currents and transient modes of substance- containing plants.
  • The gallery: he lives on the art market and developed a particular concept and gallery program and presented and marketed the artists. He advises collectors alike build their collection. The primary market gallery usually cared for new, young artists and mainly sells " atelier fresh " work. The secondary market gallery lives in contrast, exclusively from the resale of works of art. Info Frequently take over as the primary market galleries the return and resale of works by the artists they represent.
  • The art consultant: he is more of a neutral intermediary between collectors and gallery or collectors themselves. Since he himself is not necessarily tied gallery, he gives the collector when boarding an overview of the market, advises him before and in the purchase decision-making, in compiling his collection.
  • The private art collector: he specializes or targeted support by buying certain trends. There it is often a concern to acquire the expertise itself, for which a great deal of time driving; often there are wealthy people who have fallen in love with passion in the art. Most large private collections are created, a financial intent is rarely the driving force. New buyers from China, India and Russia have the potential to change the market strong.
  • The auction expert at auctions worldwide: he closely watches the market, prized him from collectors or - works of art offered by museums and groups them together in the few held in auctions ( second market ) of his house - in rare cases. In contrast to the gallery it is not the role of auction houses to promote young, unknown artists, it will proceed in accordance with commercial intentions. Here often appear on the spectacular older works, get the records in price and public attention.
  • The director and curator of museums, foundations, institutional collections or exhibitions: this museum professionals decide on the priorities of a ( public ) collection on exhibition concepts, purchases of works of art and their integration into the museum and factory stocks. These works of art obtained by public acceptance; the work of the respective artist thereby usually rise in value.