Cosmopolitan canvases : the globalisation of markets for contemporary art / edited by Olav Velthuis and Stefano Baia Curioni.

Format:

Book

Contributor:

Velthuis, Olav, 1972- editor.

Baia Curioni, Stefano, 1956- editor.

Language:

English

Subjects (All):

Art, Modern--Economic aspects.

Art, Modern.

Art, Modern--Marketing.

Physical Description:

xiv, 299 pages : illustrations ; 24 cm

Edition:

First edition.

Other Title:

Globalisation of markets for contemporary art

Place of Publication:

Oxford ; New York, NY : Oxford University Press, 2015.

Summary:

Since the late 1990s, contemporary art markets have emerged rapidly outside of Europe and the United States. China is now the world's second largest art market. In countries as diverse as Brazil, Turkey and India, modern and contemporary art has been recognized as a source of status, or a potential investment tool among the new middle classes. At art auctions in the US, London, and Hong Kong, new buyers from emerging economies have driven up prices to record levels. The result of these changes has been an increase in complexity, interconnectedness, stratification, and differentiation of contemporary art markets. Our understanding of them is still in its early stages and empirical research in the field of globalization of high arts is still scarce. This book brings together recent, multidisciplinary, cutting edge research on the globalization of art markets. Focusing on different regions, including China, Russia, India, and Japan, as well as different institutions and organizations, the chapters in this volume study the extent to which art markets indeed become global. They show the various barriers to, and the effects of, globalization on the art market's organizational dynamics and the everyday narratives of people working within the art industry. In doing so, they recognize the coexistence of various ecologies of contemporary art exchange, and sketch the presence of resilient local networks of actors and organizations. Some chapters show Europe and the US continue to dominate, especially when taking art market rankings and the most powerful events such as Art Basel into account. However, other chapters argue that things such as art fairs are truly global events and that the 'architecture of the art market' which has originally been developed in Europe and the US from the 19th century onwards, is increasingly adopted across the world. Book jacket.

Contents:

1 Making Markets Global / Olav Velthuis Velthuis, Olav, Stefano Baia Curioni Curioni, Stefano Baia 1

Part I Emerging Infrastructures

2 The India Art Fair and the Market for Visual Arts in the Global South / Filip Vermeylen Vermeylen, Filip 31

3 Making Visible: Artists and Galleries in the Global Art System / Stefano Baia Curioni Curioni, Stefano Baia, Laura Forti Forti, Laura, Ludovica Leone Leone, Ludovica 55

4 Official Art Organizations in the Emerging Markets of China and Russia / Svetlana Kharchenkova Kharchenkova, Svetlana, Nataliya Komarova Komarova, Nataliya, Olav Velthuis Velthuis, Olav 78

5 Art Without Borders? Online Firms and the Global Art Market / Mukti Khaire Khaire, Mukti 102

Part II Global Flows and Their Limits

6 Investment Returns and Economic Fundamentals in International Art Markets / Luc Renneboog Renneboog, Luc, Christophe Spaenjers Spaenjers, Christophe 129

7 Art as an Alternative Asset Class: Risk and Return Characteristics of the Middle Eastern and Northern African Art Markets / Roman Kräussl Kräussl, Roman 147

8 The Impact of Nationality and Territory on Fame and Success in the Visual Arts Sector: Artists, Experts, and the Market / Alain Quemin Quemin, Alain, Femke van Hest Hest, Femke van 170

9 Global and Local Flows in the Contemporary Art Market: The Growing Prevalence of Asia / Tamar Yogev Yogev, Tamar, Gokhan Ertug Ertug, Gokhan 193

Part III Local Configurations of Art Markets

10 The Emergence of a Market for Art in Brazil / Amanda Brandellero Brandellero, Amanda 215

11 The Contemporary Art Market in Galapagos: Japan and the Global Art World / Adrian Favell Favell, Adrian 238

12 Morality and Exchange in the Mumbai Contemporary Art World / Olga Kanzaki Sooudi Sooudi, Olga Kanzaki 264.

Notes:

Includes bibliographical references and index.

ISBN:

9780198717744

0198717741

OCLC:

892458767