Art History

Arts 1 pages (300 words)

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After watching these videos on art, there were some clear changes that are happening in the industry. Foremost, art is shifting from appreciation of artistry works with warm responses to auctions that cause millions of dollars. Auction is not a new feature in art fairs but it has been growing largely lately. Besides, the showcasing of art in gallery is now increasing the chances of commercial success of an art because of the traffic flows evident in these centers. Moreover, patrons are now playing a central role of supporting artists in their careers. Below is the evaluation of these changes.

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Auctions are now very central in art, with pieces going for millions of dollars. For instance, the Kui Hua Zi (Sunflower Seeds) was sold for $ 782, 500 at Sotheby’s in 2012 (Artsy, 2016). Different authors and experts provide their opinion about what could be happening in the largely unregulated auctions. According to Josh Baer, an art advisor, curator and art-market journalist noted that the market is likely to experience exorbitant prices for arts (Artsy, 2016). Xin Lin (deputy chairman of Christie’s Asia) noted that the young rich population of China has been fueling art prices.

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Art market on their part has been increasing its popularity. Firstly, galleries and dealer spots are secure and increase the confidence of art lovers. Matthew Slotover insisted that people love art galleries because of genuine love, part of investment and it raises their places in society (Artsy, 2016). In support, Sarah Thornton found out people are more assured when they buy their piece in these galleries.

The support of artist careers is now part of the actions of patrons. However, the explanation behind their actions are profits and to control the market. For instance, Alberto Mugrabi, an art collector noted that they purchase artist works as part of controlling the market (Artsy, 2016).These videos are significant in pointing out on the contemporary features of art market.

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Works Cited

Artsy. “The Art Market, Explained: The Rise of the Art Fair.” Artsy, June 13, 2016. https://www.artsy.net/article/artsy-editorial-how-art-fairs-expanded-the-contemporary-art-market

 

 

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