An economic downturn rarely seems to be a good thing. Particularly in the art world, where we battle the idea of art being less than necessity.
And the downturn is hurting the art market, according to experts. BUT a couple of interesting perks were pointed out by artists in this video taken at a Guggenheim fundraising auction, on the New York Times website.
1) "People who are in it only for money get weeded out in a way, and there's a good side to that." So art can be purchased by true art lovers, rather than those just looking to make an investment. It seems artists like this idea. Rushton tells us they're not really in it for the money, anyway.
2) "When the prices are lower more museums and public institutions will be able to acquire them [pieces of art]." If more art is in museums and public institutions, more people are exposed to the art. If the art can only be afforded by mega-rich private individuals, fewer people have access to it. As administrators, I think we all generally believe better art access = better world.
Michelle Facos, beloved museum/art history professor, exposed us to the auction world last year. A highlight was a fieldtrip to Chicago and a visit to Sotheby's.
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1 week ago
1 comment:
Nice post.
Economic downturns also force industries, such as art, to innovate. 20x200 offers a limited quantity of 200 original prints for $20, and it seems to have quite the following.
Hopefully 20x200's business model provides not only better "access" to the public, but also enhanced economics for today's artists, which I'm sure are struggling to survive with investors removed from the market.
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