https://www.artsy.net/article/artsy-editorial-contemporary-art-s-most-influential-cities
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onsdag 15 juni 2016
What Tech’s Unicorn Cult Can Learn from the Art World
Investor Aileen Lee popularized the term “unicorn” as shorthand for a startup technology company worth a billion dollars or more.
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Lee’s billion-dollar figure set an arbitrary but gee-whiz number as the entry fee to a club of success. More subtly, it transformed “worth a billion dollars” from an adjective to a noun. And then, in a blink, that noun became an essential fact of a company. In her article, Lee counted fourteen private unicorns; today, TechCrunch’s unicorn “leaderboard” lists a hundred and sixty-eight, a hundred and two of them in the United States.
Both venture capitalists and art buyers are in the business of valuing the invaluable. Both stake their reputations on exquisite selection. Both nurture talent before it can support itself. Both have a soft spot for youth, for unbowed ego, for the myth of solitary genius, for the next new thing. Both operate in a world of frustratingly limited information and maddeningly unpredictable success. Both depend on consumer culture while holding themselves superior to it. And both the art market and venture investing have become increasingly winner-take-all games, with more clout to the companies and artists backed by the most powerful dealers or venture capitalists.
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Perhaps the most famous criticism of unicorn funding came in a much-discussed blog post by the venture investor Bill Gurley, who lamented startups raising follow-on investments at what he called “dirty valuations,” which made a company a unicorn in theory but contained provisions that hurt early investors.
http://www.newyorker.com/business/currency/what-techs-unicorn-cult-can-learn-from-the-art-world
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Lee’s billion-dollar figure set an arbitrary but gee-whiz number as the entry fee to a club of success. More subtly, it transformed “worth a billion dollars” from an adjective to a noun. And then, in a blink, that noun became an essential fact of a company. In her article, Lee counted fourteen private unicorns; today, TechCrunch’s unicorn “leaderboard” lists a hundred and sixty-eight, a hundred and two of them in the United States.
Both venture capitalists and art buyers are in the business of valuing the invaluable. Both stake their reputations on exquisite selection. Both nurture talent before it can support itself. Both have a soft spot for youth, for unbowed ego, for the myth of solitary genius, for the next new thing. Both operate in a world of frustratingly limited information and maddeningly unpredictable success. Both depend on consumer culture while holding themselves superior to it. And both the art market and venture investing have become increasingly winner-take-all games, with more clout to the companies and artists backed by the most powerful dealers or venture capitalists.
--
Perhaps the most famous criticism of unicorn funding came in a much-discussed blog post by the venture investor Bill Gurley, who lamented startups raising follow-on investments at what he called “dirty valuations,” which made a company a unicorn in theory but contained provisions that hurt early investors.
http://www.newyorker.com/business/currency/what-techs-unicorn-cult-can-learn-from-the-art-world
Can the Billionaire Class Save a Floundering Art Market?
The throng of international collectors is descending on the quiet Swiss town for Art Basel, whose 47th edition opened on Monday.
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Sales by galleries and dealers accounted for 53 percent of the global art trade in 2015, according to the annual art market report by the European Fine Art Foundation. Art Basel, which has 286 galleries from 33 countries, is seen as the litmus test of this segment.
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Dealers are known to save their best works for the fair, which is at once a sales and marketing platform.
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Representatives from 300 private and public museums confirmed attendance, Spiegler said. Each year, about 75 of the top 100 U.S. collectors attend the fair, he said.
http://www.bloomberg.com/news/articles/2016-06-14/basel-s-billionaire-magnets-test-art-market-after-weak-auctions
https://www.artbasel.com/
https://play.google.com/store/apps/details?id=com.mch.artbasel
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Sales by galleries and dealers accounted for 53 percent of the global art trade in 2015, according to the annual art market report by the European Fine Art Foundation. Art Basel, which has 286 galleries from 33 countries, is seen as the litmus test of this segment.
--
Dealers are known to save their best works for the fair, which is at once a sales and marketing platform.
--
Representatives from 300 private and public museums confirmed attendance, Spiegler said. Each year, about 75 of the top 100 U.S. collectors attend the fair, he said.
http://www.bloomberg.com/news/articles/2016-06-14/basel-s-billionaire-magnets-test-art-market-after-weak-auctions
https://www.artbasel.com/
https://play.google.com/store/apps/details?id=com.mch.artbasel
måndag 11 april 2016
This App Will Change The Way You Buy Art
“Take a picture of an artwork,”
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But the app didn’t just display the artwork; it loaded, unprompted,
the photograph’s title, attribution, dimension, price ($20,000), and,
further down on the screen, a history of past work and exhibitions by
the artist.
“It’s the Shazam of the art world,” Resch said, still smiling.--
The app aims to catalogue the existence and price of every artwork and to make that information publicly available. It’s the holy grail of the art market.
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Wine-lovers photograph bottles to discover price markups on Vivino (Magnus actually uses Vivino’s image-recognition software).
http://www.bloomberg.com/news/articles/2016-04-08/magnus-app-wants-to-be-the-shazam-of-art-world
http://www.magnus.net/
onsdag 4 november 2015
A Brief History of the New York Times’ Coverage of Selling Art Online
This week, the New York Times published a trend story about buying art online by Vindu Goel, a technology reporter for the paper.
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The piece would not to be worth mentioning at all if it weren’t the same trend story that the Times
has been publishing for the last two decades, with slightly different
numbers plugged into the formula. The paper of record recycles the topic
of art collecting online every few months.
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But here’s an idea: if you’re a Times editor and a pitch comes
in from a staffer or a freelancer about how the market for online sales
of art remains small but more people are willing to buy art online
because everyone is awfully comfortable with the Internet now, maybe
think about your publication’s previous coverage and, you know, don’t
publish the same story over and over and over again? People notice these
things.
torsdag 8 oktober 2015
Why Is Art Expensive?
Brands are king in fine art. Names like Rothko and Pollock distinguish them from unknown artists the same way the Coke and Pepsi brands distinguish them from other sugar water.--
The answer is that the market for fine art is heavily “curated.” It is controlled by galleries and dealers who commit with astonishing discipline to keeping artwork prices predictable and pegged to signals of quality like the prestigiousness of the gallery selling the artist’s work. You could say the market for art is “rigged”; a more charitable explanation is that galleries and dealers act as tastemakers, deciding which art is good and therefore expensive. The end result is to turn artists into brands, which introduces enough certainty for the market to function.
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The consensus on fine art’s value is also a data-driven conclusion. Binstock notes that between art databases of auction sale results, which date back to the eighties, and published volumes that go back even further, there is “a lot of history to justify the price one might have to pay” for an expensive artwork. Any number of favorable analyses chart the prices of pieces by renowned artists like Andy Warhol. Despite a rapid rise and fall in price during exuberant periods like the 2008 fine art bubble, they outperform the stock market over several decades.
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So how do professionals evaluate an artwork’s worth? According to Sara Friedlander, who organizes art auctions at Christie’s, the world’s largest auction house, “There is not one art market. Every artist has his or her own market.” Christie’s predicts auction prices by looking at “comparables in the market,” which except in the case of real outliers or a rare masterpiece, means the selling price of a similar work by the same artist.
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Other circumstances external to an artwork also impact its status in the art world. One reason we celebrate certain works and artists is their contribution to artistic movements. “The Fountain” is just a urinal placed upside down and signed, but it defined the Dada movement’s challenge to artistic sensibilities, which is why an authorized copy of the artwork (the original was lost) sold for $1.8 million in 1999.
http://priceonomics.com/why-is-art-expensive/
fredag 2 oktober 2015
40 Percent of World Gallery Art Sales Made at Fairs and Other Key Findings in the TEFAF Art Market Report 2015
The TEFAF Art Market Report, delivered by Dr. Clare McAndrew of Arts
Economics, is considered the authority on data relating to auctions, art
fairs, and market trends.
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Postwar and contemporary Art represented 48 percent of all fine art sales by value.
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Sales at art fairs totaled 40 percent of all dealer sales, a shy six percent behind in-gallery sales.
Hiscox Online Art Trade Report 2015
According to the Hiscox Online Art Trade Report 2015, the value of the online art market has risen from $1.57 billion in 2013 to an estimated $2.64 billion in 2014. Based on these figures, online art buying therefore accounts for 4.8%of the estimated $55.2 billion value of the global art market.
The majority of collectors and galleries at the time (71% and 88% respectively) said they bought and sold art regularly on the basis of a digital image (i.e. sight unseen). However, direct e-commercewas less common, with only 29% of the galleries offering their clients the possibility to buy art works directly through the website.
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torsdag 1 oktober 2015
Larry's List - Art Collector Database With Over 3,400 Art Collector Profiles - 1 Week 79 USD
https://www.larryslist.com/how-it-works/
Art Collector Report 2014 - 14,99 USD (e-pub)
The United States has the largest share of art collectors worldwide with 25%, followed by Germany with 9% and the UK and China with 7% each.The biggest collector city is New York with 9% of global collectors. London (6%) and Sao Paulo (3%) rank second and third.
The average age of a collector is 59 years. 71 % of collectors are men.
https://www.larryslist.com/art-collector-report/
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