Not exact matches
«Despite an estimated $ 3 trillion of
art assets in the world, only $ 44 billion trades in a given year — and less than 2 percent of qualified buyers participate in this
market due to high transaction costs, long lead
times, and limited transparency on pricing and value,» Artsy will bring this last major consumer category online and thereby substantially expand the size of the
global art market.
Jurying an exhibition like Viridian's at that
time was an essential activity, a relief from the horrifying realization that, at least in New York, little separates the
art world from
global financial
markets and the entertainment industry.»
For the first
time, a truly
global art market came into being: between New York and Cologne, Paris and London, Madrid and Rome, a new breed of gallerists and collectors reshaped the international
art scene.
Time seems to flow in cycles, and so on the eve of 18th Street's 25th anniversary, we meet again at a crossroads: one path illuminated by the hot flame of the avant - garde and DIY traditions of Los Angeles; the other by the cool, neon glow of the
global contemporary
art market.
But, this
time has passed, as the
global art market began «to discover» 20th Century Italian
art.
It is not clear that David Zwirner's offer to pay more for his booths at
art fairs was part of a premeditated strategy to deflect some of the frustration toward the growth of larger
global galleries in the
art market; or that, in making the offer, it would be treated as «breaking news» by the New York
Times's social media team or picked up by a number of other
art market reporters as an important or significant offer.
The play of
global power relations for most cultural tourists visiting the Venice Biennale may at first seem secondary but the endless thoroughfare around which national pavilions are deserving enough of one's
time amidst the 88 national participations, 47 collateral events, and the main exhibition curated by Massimiliano Gioni, most certainly illustrated a synonymous relationship between
art, its
markets and
global power relations.