Understanding International Art Markets And Management

by Robertson; Iain

• ISBN13: 9780415339568
• ISBN10: 0415339561
• Edition: 1st
• Format: Hardcover
• Copyright: 2005-06-23
• Publisher: Routledge

Summary

This groundbreaking text brings together experts in the field of visual art markets to answer some fundamental questions: Is art a good investment? Why is the art market dominated by America and Western Europe? Where are the key emerging markets and what are the next good buys in art? Providing readers with an understanding of the challenges facing art market "makers" (dealers, auctioneers, collectors and artists) and the decision making process experienced by market "players" and investors, this exciting text merges the key theories with examples of practice in a highly accessible style. Written by an international array of experts from the US, the UK and China, this book is essential reading for all those studying or interested in art markets and management.

Table of Contents

List of illustrations	ix
Notes on contributors	xi
Foreword	xiii
Acknowledgements	xv
1 Introduction: the economics of taste	1	(10)
IAIN ROBERTSON
PART I The structure and mechanisms that fuel the art market	11	(112)
2 The international art market	13	(24)
IAIN ROBERTSON
3 Art, religion, history, money	37	(25)
IAIN ROBERTSON
4 The success and failure of international arts management: the profitable evolution of a hybrid discipline	62	(22)
ERIC MOODY
5 Stakeholder relationships in the market for contemporary art	84	(19)
DERRICK CHONG
6 Tax matters	103	(22)
RENÉE PFISTER
PART II The behaviour and performance of the main markets for art	123	(138)
7 Managing uncertainty: the visual art market for contemporary art in the United States	125	(21)
JOAN JEFFRI
8 The emerging art markets for contemporary art in East Asia	146	(26)
IAIN ROBERTSON
9 World taste in Chinese art	172	(23)
JAMES SPENCER
10 The nature of supply and demand in the Old Master picture market	195	(19)
ALEXANDER HOPE
11 Art crime	214	(14)
PATRICK BOYLAN
12 The current and future value of art	228	(33)
IAIN ROBERTSON
PART III Conclusion	261	(11)
13 Endgame and beyond	263	(9)
IAIN ROBERTSON
Index	272