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Artscope Magazine | November/December 2020

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business

ART FOR JET SETTERS: INTRODUCING AN UNTAPPED MARKET FOR PAINTERS

// March/April 2020

by Katherine Sloan

One might wonder: where do the owners of private jets collect art? Well, in New York City, of course! There was an exclusive VIP Post- Modern and Modern art exhibition held this past October in the new neighborhood of Hudson Yards. Dubbed a “millionaire’s playground,” this gorgeous artful exhibition was a part of the Premier Plate event and took place in order to raise funds for medical research (the Wendy English Breast Cancer Research) and to end hunger (Heavenly Harvest). In what once was a sort of wasteland for parked subway cars, there is now architecture that the whole city is raving about along with designer shops, shiny skyscrapers and an enormous otherworldly sight to behold known as “The Vessel.” High up on the 51st floor, there was impressive and nearly priceless art for sale by the likes of legendary modernist Pablo Picasso and surrealist Salvador Dalí. Along with these … [Read more...] about ART FOR JET SETTERS: INTRODUCING AN UNTAPPED MARKET FOR PAINTERS

MAKING NEW CONNECTIONS: AN ART BROKER CAN FILL WALLS, EMPTY PORTFOLIOS

// Current Issue, Issue Articles, July/August 2019

by Ron Fortier

Most artists dream of seeing a red dot next to their work on exhibit. The red dot is the almost-international symbol that an artwork has been sold. Selling art is difficult enough. In order for an artist to increase their chances of selling, they need to exhibit frequently and at high-traffic venues. Consistency is key when selling art one piece at a time. But — imagine selling multiple pieces of work at a time. Wonderful but, how? You need the assistance of a reputable art broker, or dealer, with not just a proven sales record but an established network of buyers as well. There’s an old business adage that 80 percent of your sales come from customers who live the furthest away. That doesn’t always have to be the case. Large local businesses, institutions and organizations can enhance their image and brand by acquiring and showcasing art created by emerging and established … [Read more...] about MAKING NEW CONNECTIONS: AN ART BROKER CAN FILL WALLS, EMPTY PORTFOLIOS

THE BUSINESS OF ART: ART FREE FOR ALL

// Artscope Online, News, Theatre, Visual Arts

By Nancy Nesvet Okay, so now we acknowledge that the world of art is tied to economics. Only the Venice Biennale and other recent exhibitions after that model survive to showcase the best of new art not for sale or created with economic appreciation in mind, only the other kind. There is no shame in admitting people buy art to hang on their walls while also hoping the work goes up in value; that supports galleries who pay artists, a noble and necessary employment. The art fairs are a great venue for creating an art marketplace for collectors to buy and galleries to sell. But let’s acknowledge the distinction between and value of art fairs for fun and profit and the Biennales, Documentas and other not for sale art venues. That value was recognized until the recent economic debacle of Documenta 14 at Kassel and Athens. Not only did Documenta 14 lose millions of euros, but the loss … [Read more...] about THE BUSINESS OF ART: ART FREE FOR ALL

THE BUSINESS OF ART: DOCUMENTA-ECONOMIC DEBACLE, POLITICAL WIN

// Artscope Online, News, Visual Arts

By Nancy Nesvet As Globalism and Nationalism dominate current world news and politics, economic disparities of the Global South and northern Europe causes verbal and policy battles across all markets. We hinted in the last Business of Art blog at the consequences for documenta 14, but here provides an update on its future policy decisions. Splitting the fair between Kassel and Athens has been cited for the 5.4-million-euro loss. Documenta’s director, Adam Szymczyk, took the job on the condition that the exhibition be split between Athens and Kassel. Half of Kassel’s 2017 documenta was financed by the German Federal Cultural Foundation, the German Federal Foreign Office and the City of Kassel. The other half came from private funds: Volkswagen and Sparkasse Finance Foundation and Kassel’s daily entrance fee. Originally, 10 percent of the budget (2 million euros) was to go to Athens, … [Read more...] about THE BUSINESS OF ART: DOCUMENTA-ECONOMIC DEBACLE, POLITICAL WIN