Abstract
The market for the visual arts carries out a complex activity, which requires identifying key variables to establish valid investment criteria and obtain reasonable profits. This calls for differentiating the purpose of the purchase as either an investment or a collection. Then, focusing on the work and the artist, the trajectory of iconic and emerging elements is investigated and compared to identify the criteria that the buyer should consider when acquiring a piece of visual art. Accurate parameters are needed to invest considering this economic activity has clearly defined segments. For this reason, the claimed characteristics of the artwork, the artist and the market must be assessed as well as the need for the art piece or the added value that an artwork offers to the market and the reason why a certain amount of money must be paid to obtain it. The aim of the present research is to identify key variables to establish valid investment criteria, taking the case of the contemporary Venezuelan Art Market as basis. To achieve this objective, the documentary research methodology was applied and, in addition, interviews with some market agents were carried out, which revealed the presence of many agents with various interests within the market. As a conclusion, the study revealed that the visual arts market is a complex market, which requires different actors to handle accurate and reliable information when making purchasing or sales decisions.
Highlights
The visual arts market is as attractive and complex as any other
This article aims to identify many key variables and establish valid investment criteria to obtain reasonable profits through parameters which facilitate the purchase of visual art pieces
This article aims to identify many key variables to establish valid investment criteria to obtain reasonable profits through parameters that facilitate the purchase of visual art pieces
Summary
The visual arts market is as attractive and complex as any other. It seduces us through two great dimensions: the sensory impression, which refers to the pleasure and enjoyment when contemplating artwork in itself and that other of having peace of mind when obtaining financial returns that could solve future economic problems, typical of daily life. Proposals, styles, classifications, themes, sizes, authors, ages, life and death, emerging artists and established artists and capital limitations are some of the variables that must be combined to select the investor’s "obscure object of desire.”. This article aims to identify many key variables and establish valid investment criteria to obtain reasonable profits through parameters which facilitate the purchase of visual art pieces Proposals, styles, classifications, themes, sizes, authors, ages, life and death, emerging artists and established artists and capital limitations are some of the variables that must be combined to select the investor’s "obscure object of desire.” An experienced dealer would intuitively realize unknowns, which perhaps, would give the result of the equation “contemporary art and market”, “beauty and investment.” This article aims to identify many key variables and establish valid investment criteria to obtain reasonable profits through parameters which facilitate the purchase of visual art pieces
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