Dynamics of the art Market: art as a Global Business
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Art as a Global Business: Dynamics of the Art Market reveals the networks, concepts, and specialized terminology of the often-secretive international art market and offers an introduction to the commercial structures through which art flows. Course discussions outline how these commercial structures relate to each other and analyze the people, institutions, and organizations that comprise art business. Lastly, by emphasizing the effects of pricing, value formation, and globalization on the art market, course lectures assist you in understanding and identifying the risks and challenges that contribute to the ever-changing nature of the commercial art market.
What you will learn:
- Professional knowledge of the structure, size, and dynamics of the art market.
- The analytical skills to critically evaluate the art market, both the mainstream art market as well as those of emerging and growth economies.
- The facility and confidence to review the complexities surrounding the production, circulation, and endorsement of art.
- The ability to compare and contrast the opportunities, challenges, and risks of the art market
Week 1: Introduction to the Art Market
- The Composition of the Art Market
- Size of the Art Market
Week 2: Sales Channels
- Primary and Secondary Market
- Auction Market and New Markets
Week 3: Consumption of Art
- Collecting – Changing Patterns in Wealth
- Conspicuous Consumption and Demand for Art
Week 4: Validation Process
- Institutional Endorsements: The Value of Art
- Museum vs. Auction House
Week 5: The Artist
- Artist Markets
- Trends: Rights and Protections Available to Artists
Week 6: Opportunities Challenges and Risk in the art Market
- Challenges and Risks in the Art Market
- The Importance of Conservation
- Market Insights – Industry Voices on the Outlook of the Art Market.