The Art Business (art World, Art Market)

The Arts Business provides a comprehensive overview of the professional activities of the art business. Addressing this fast-moving industry, the book analyses its market institutions and structures, including galleries, auction houses and art fairs.

This book provides a comprehensive overview of the professional activities of the art business. Addressing this fast-moving industry, The Art Business: Art World, Art Market analyses the sector’s institutions and structures, including galleries, auction houses and art fairs.

The rapid development of art finance and its deployment of art as an asset class are covered and, and up to moment observations are delivered on the quickly evolving auction system that includes dramatic changes at the major auction houses, Sotheby’s and Christie’s. This edition highlights growing crises in the market including the ever more unbearable costs of art fair attendance and the lack of a reliable system for establishing ownership and title of artworks. Ever more pressing ethical issues such as toxic museum donors, cultural heritage compliance, and problems of corrupt provenances are explored in detail. Enhanced by new data analytics on the US art market, the author also distils advice and guidance for working art professionals hoping to build their careers.

The result is an up-to-date picture of an art business suitable for students and practitioners across the creative sector.

1: Primary Market Galleries 2: Secondary Market Galleries 3: Auction houses 4: Public Collections and Museums 5: Business Models: For-Profit, Nonprofit, Government-Supported, and Others 6: Antiques 7: Art Fairs 8: Curatorship 9: Venue Management 10: Marketing 11: Art History, Art Criticism, and the Art Press 12: Cultural Heritage Compliance 13: Taxation 14: Customs 15: Insurance 16: Transportation 17: Appraising 18: Conservation 19: Connoisseurship 20: Art Advising, Art Finance, NFTs

Jeffrey Taylor is US Fulbright Scholar at the European Humanities University (EHU) in Vilnius, Lithuania.