Art Market Research Articles

PENGEMBANGAN INDUSTRI KALIGRAFI: PELUANG DAN TANTANGAN MENINGKATKAN EKONOMI UMAT ISLAM

The Islamic calligraphy industry has great potential to improve the economy of Muslims through various forms of commercialization and cultural preservation. The main opportunities include the art and collection market, education and training, as well as the development of creative industries with the application of calligraphy to design and digitalization products. Apart from that, cultural and religious tourism that utilizes calligraphy can attract tourists and improve the local economy. However, the industry faces challenges such as lack of financial support, difficulties in accessing global markets, copyright protection issues, and a lack of adequate education and training. Strategies to overcome these challenges include increased financial support, stronger copyright protection, better education and training, and the use of digital technology. With the right approach, the calligraphy industry can develop rapidly and contribute significantly to the Muslim economy.

Analysis of Factors Influencing Artwork Pricing

Artworks, as unique commodities, possess both properties and aesthetic value. For consumers, understanding the factors affecting artwork pricing can mitigate the risks associated with market pitfalls. For collectors intending to sell artworks, knowing the factors influencing the pricing of artworks can help them better assess the value of their collections and make more informed decisions on when, where and how to sell. This paper analyzes the influencing factors on art prices from three perspectives: intrinsic attributes of artworks, demand dynamics, and special elements of the art market. Each factor's variation can lead to significant fluctuations in art prices.

Tools for the Portuguese contemporary art market

In the past two decades, the art market has seen significant growth, with scholars and academics across the globe showing newfound interest in its potential as an interdisciplinary field. This has led to a prolific number of publications, particularly through the lens of globalization. However, a dearth of studies from regions outside the main axes remains, despite the potential for such studies to challenge globalization. This article investigates the primary art market of Portugal, located in southwestern Europe, which borrows ideas from the Global South due to similarities with regions from outside Europe and North America. We apply this concept to the features from a country, namely Portugal that is considered semi-peripheral and marginalized within dominant narratives. We emphasize the permanent tension between the local actuation and the global aspirations of the players in this market. Using literature published on the subject, reports, and interviews, we systematize the mechanisms of activation of the primary market; the launch of art fairs; the emergence of contemporary art galleries, museums, and collectors; and the discourse surrounding the recognition of the global art scene. Despite being a small-scale, semi-peripheral market, a willingness exists to internationalize. Furthermore, in addition to its rich cultural history and substantial investments, mainly from the private sector, the market has attracted international audiences from the artistic milieu and thereby contributed to the heterogeneity observed in the Global South.

The Shaping of The Global Art Market by The Development of The Modern Internet

In the realm of the art market, the widespread adoption of digital platforms and rapid technological advancements have had far-reaching effects. This paper explores how digital platforms have reshaped global art creation, distribution, and consumption patterns, analyzing their impact on democratizing access to art, disrupting traditional exhibition structures, and introducing new opportunities and challenges in the digital age. This paper investigates the transformative effects of web innovations on the art market, focusing on how digital platforms have reshaped global art creation, distribution, and consumption patterns. With the widespread adoption of the internet and rapid advancements in digital technologies, the art market is undergoing significant changes. This study examines key trends, case studies, and the broader implications of these changes, analyzing the democratization of access to art, the disruption of traditional exhibition structures, and the emergence of new opportunities and challenges in the digital age. It concludes by exploring both the advantages and complexities introduced by online platforms in the global art market and their long-term implications for the art ecosystem. As the internet expands and digital technologies evolve, the global art market faces unprecedented transformations. Traditional modes of art exchange and exhibition structures are being replaced by digital platforms, which not only expand the audience for artworks but also redefine interactions between artists and viewers. This paper aims to delve into the significant impact of these changes on the structure and ecosystem of the global art market.

Art Market as a Factor in Shaping the Artistic Environment of Ukraine: Institutional Foundations and Development Prospects

The purpose of the article. The article is devoted to the influence of the leading persons and institutions of the Ukrainian art market on the formation of the circle of the most famous figures in the artistic environment, the dominant trends in the artistic life of the country, the tastes of the public, as well as the growing influence of representatives of the art business on the activities of state institutions in the field of culture. The methodology of the work is based on the application of methods of observation, analysis and generalisation, as well as the structural-functional method, considering the art market and the artistic environment as closely related social phenomena. A sociological approach to art as a collective activity is applied, in which not only artists are involved, but a large network of other participants in cultural life and the art market. The scientific novelty of the work consists in the study of the role of local art business in shaping the structure of the contemporary artistic environment of Ukraine. For the first time, the question of how decisive is the influence of the participants of the Ukrainian art market (primarily – art dealers, collectors and institutions related to them) on the formation of a certain hierarchical ranking of artists in the Ukrainian art environment on representatives of the mainstream and the rest of other, less well-known figures was highlighted, a significant part of which is, so to speak, on the periphery of cultural life; the impact of the art market on public tastes and the activities of state bodies in the field of culture is also outlined. Until now, the topic of close interdependence of the art world and the art market has been avoided in the Ukrainian art history discourse. Conclusions. The art market selects artists who become the most famous figures in Ukrainian artistic life and get the opportunity to represent the country at the international level. The art market shapes public tastes; the most successful participants of the art market (primarily art dealers and collectors) seek to participate in the formation of state cultural policy by integrating into state institutions. In accordance with world trends, the private sector will gain more and more influence in the modern cultural life of the country, which will have both a number of advantages for the development of the Ukrainian art market and artistic life, as well as certain, potentially possible, disadvantages.

Cubism in Sweden – from experimental to moderate

In this article, examples of various forms of cubism practiced by Swedish artists are described and analyzed regarding form, content and reception in the field. A certain emphasis is placed on female artists, since there is a need for differencing the narrative of modernism regarding women’s contributions, often disregarded in their own contexts as well as in the writing of art history. Attention has also been paid to changing notions of cubism in the field of art. In the early years of cubism, from the 1910s, a considerable number of Swedish artists experimented enthusiastically with prismatic and other cubist effects in their paintings. Many of them went to Paris, Berlin and Copenhagen to see the new art, and brought new ideas to Sweden. For most of the artists who experimented with different kinds of cubism, it was a temporary activity, although many of them felt they had acquired new insights concerning artistic form. Some of them further developed their findings into new directions of modernist art, such as post-cubism, purism and concrete art. Women artists were active in all of these movements. The art market in Stockholm thrived in the 1910s and 1920s. Several of the art critics and large parts of the art audience had difficulties understanding cubism, and rejected the non-figurative art exhibited at the Stockholm exhibition in 1930. However, most Swedish cubism proved to be of a moderate sort, such as the works by Georg Pauli. On the other hand, Agnes Cleve, Siri Derkert, Gösta Adrian-Nilsson (GAN), and Otto G. Carlsund never ceased to generate bold forms and compositions. Regardless, it took a long time for Swedish art audiences to accept this form of visual art.

Painting as Existential Experience: the Work of the Painter Rimvidas Jankauskas-Kampas

The aim of the article is to study the life and creative work of the famous Lithuanian artist Rimvidas Jankauskas-Kampas in the context of socio-cultural phenomena of the late 20th century. Results. Paintings of Rimvidas Jankauskas-Kampas (1957–1993) give an impression of intriguing, temperamental, obscure and enigmatic creative work. The artist lived for a short time, as his life ended unexpectedly when he was only thirty-five years old. The painter is strongly etched in the memory of his contemporaries, and his personality, as well as creative work are intertwined with things that may not even exist. Nowadays, a lot of people talk about Rimvidas Jankauskas-Kampas and his paintings. This bright personality achieves more and more colourful tones, and is vividly portrayed. Art historians are interested in his artistic legacy. The artistic work of this painter remains a subject of interest and discussion among artists and art critics. It is fought over at public auctions, and in the shadow of the art market. After graduating from the Vilnius Art Institute (now the Vilnius Academy of Arts), the young artist was thrust into a period of political change. The liberation of Lithuania from the Soviet Union meant new opportunities and creative freedom for him and other artists. Scientific novelty. This article is the first attempt to analyse in detail the oeuvre of Rimvidas Jankauskas-Kampas, as during the period of political changes, his paintings became a symbol of creative freedom. Conclusions. In fact, this outstanding artist brought many innovations to Lithuanian painting. The painter intuitively found a new concept of abstract painting in Lithuania. His main idea was to improvise freely on a very large canvas, and to paint nature alla prima. Free colour improvisations in his work only appeared after long sessions in painting plein air workshops. Rimvidas Jankauskas-Kampas stood out because he did not care about subtle colour nuances, or even for the whole expressive colourist school of Lithuanian painting. His abstractions are like a short and precise message spoken aloud.

What Makes Domestic Tourists Satisfied with Shopping in Bali? The Influence of Place Attachment, Shopping Motivation, and Shopping Experience

Shopping for souvenirs is often considered an essential part of the travel experience for many tourists. This study examines the relationship between place attachment and shopping motivation as independent variables, shopping satisfaction as a dependent variable, and shopping experience as a mediator. The findings indicate that place attachment may influence shopping pleasure indirectly, through the mediating role of shopping experience. In contrast, shopping satisfaction is affected by shopping motivation both directly and indirectly. A sample size of 308 respondents who had participated in tourism shopping at Sukawati Art Market, Gianyar, Bali, was used to validate the proposed model. The validation was conducted using PLS-SEM through outer and inner models with SmartPLS 4, using a 1-tailed test. The study employed a quantitative approach and collected data through a survey questionnaire. The results of this research hold theoretical and practical implications for increasing the understanding of shopping satisfaction of domestic tourists.

Immersive and virtual exhibitions: A reflection on… art?

This paper explores the conceptualization and evolution of virtual exhibitions and immersive art experiences, highlighting their distinctions and similarities. Virtual exhibitions, conducted online or through digital media, offer a platform for showcasing artworks to a global audience without physical constraints. They employ multimedia elements to engage viewers and provide flexibility in exploration. Conversely, immersive art experiences create environments that envelop the viewer, stimulating multiple senses and often incorporating advanced technologies, such as virtual reality and augmented reality. These experiences aim to evoke emotional responses and facilitate active engagement with the artwork. While proponents argue that virtual exhibitions and immersive art experiences democratize access to art and offer new avenues for artistic expression, critics have raised concerns about their impact on authenticity, viewer engagement, and art commercialization. Philosophical and cultural perspectives, including phenomenology and postmodern theory, shed light on the complexities of these art forms and their relationship with reality and simulation. This paper, further, examines the social and business implications of virtual exhibitions and immersive art experiences, noting their growing popularity and influence on the art market. It discusses the viewpoints of artists, critics, and scholars, both supportive and critical, regarding technology’s role in art and its effects on the viewer’s experience. Virtual exhibitions and immersive art experiences represent an evolving landscape in the art world, offering opportunities for innovation and debate. Their impact on the perception and consumption of art remains a subject of ongoing discussion. The paper concludes with a review of successful virtual exhibitions, highlighting their role in expanding access to art and cultural experiences globally.

Under the Watchful Eyes of the Supreme Leader: Iranian Politics and the Art Market

Abstract This article studies the relationship between politics and the art market. It adopts the Iranian model and analyzes how the political advancement of the Islamic Republic influenced aesthetics, art production, and the art market, to highlight how a conservatively religious model—governed by theocracy—impacts an otherwise prosperous and affluent culture. As such, this study also explores the correlation between art and moral virtues within a society. According to data, exportation of Iranian art was enjoying a far more lucrative climate the world over prior to the 1979 revolution. After the Islamic Revolution, artists, collectors, art galleries, and museums were forced to carve a confined space of existence and self-expression as a consequence of the endless limitations imposed. The political realm directly affected artists’ aesthetics, materiality, subject matter, and exposure. Artists were somewhat isolated from the global art scene, and their practice was defined by predetermined moral restrictions and boundaries. As for the art market, it became a hidden and unregulated market where the sale of artworks was muddled with money laundering and illegal exchange.

Roman original or deliberate fake?

A private collection in Cordoba contains a previously unpublished bronze head. It is not a Roman original. Its iconographic incongruences and its intentional fractures suggest a malicious intention in its manufacture. It is possibly a fake that someone intended to introduce in the art market. A second bronze portrait of the same personage belongs to a private collection in Murcia. It has similarly never been made known. It is also a modern sculpture, confirming the non-ancient origin of the bronze in Cordoba. The joint study of the two objects can serve as a methodological example of the procedure to detect modern fakes of bronze portraits with an antique appearance.

Visibility in the Italian Art World: How Far Along We Are

Even though the concept of “nationality” when we talk about an internationally acclaimed artists is more and more blurred and has little to do with the importance of the artworks, it is evident how small the Italian art presence in great international art manifestations is, sometimes almost negligible. It is then necessary to understand the causes of this situation, to draw a map of the current state of the contemporary Italian scene and state some resolutions from it. The first 2022 Report “How (well) known is Italian art abroad?” by BBS-Lombard Benefit Corporation, together with Arte Generali has investigated how much Italian contemporary artists are (in)visible in the international art market, laying the groundwork for a much more in-depth research of the art system, with the ultimate purpose of giving new solutions to overcome this situation, wandering whether Italian art has a business model with (still) some gray areas - unlike almost all other product sectors – and how building an economy to bridge the gap, having a market strategy and being attractive in the international positioning can be a strategic move. The study was conducted carrying out both qualitative and quantitative analysis throughout more than 20 interviews to Italian curators internationally known that have helped us understand causes, strengths and weaknesses of the Italian art system and a big data collection about the presence of Italian artist in international museums, art manifestations, biennials, such as Biennale di Venezia and documenta, international art galleries and auctions. The global media coverage of Italian artists was analyzed with the help of Artiker and through the artificial intelligence of Wondeur AI, partner of Arte Generali, it was possible to analyze the relationship between art development and cities, considering the city’s overall success rate (percentages of artists showing growth in the city) and the city’s risk propensity (ability to attract artists). The instrument of the Italian Council was also studied, the main MIC project (Italian Ministry for Culture) in support of Italian art and the initiatives of Italian cultural institutes abroad. From the overall analysis some relevant names have emerged: Francesco Vezzoli, Monica Bonvicini, Enrico David, Paola Pivi, Tatiana Trouvè, Roberto Cuoghi, Rosa Barba, Massimiliano Cattelan (above all) and a few others, all united by a time of study or work abroad which allowed them to create valuable relationships with curators, galleries and museums abroad.

Corpus-based critical discourse analysis of NFT art within mainstream art-market discourse and implications for the political economy of digital art

The recent advent of non-fungible tokens (NFTs) has profoundly disrupted the contemporary art market, but their status remains contested. While advocates tout the democratising potential of NFTs, critics dismiss them as a speculative bubble. This study elucidates the position of NFT art within mainstream art market discourse through an interdisciplinary analysis synthesising critical discourse analysis, corpus linguistics, and the political economy of art. Examining three key 2023 art market reports furnishes empirical insights into how influential institutions frame and valorise NFT art. Linguistic patterns reveal NFTs’ increasingly solid yet variable positioning across art market segments. NFT art appears well-integrated into mainstream discourse but remains emergent at the high end. The analysis reveals a complex picture, with the data showing both positive institutional framing and valorisation of NFT art, as well as the identification of ethical tensions and concerns around issues of accessibility, diversity, and sustainability within the NFT art market discourse. We find NFT art simultaneously amplifies and challenges existing hierarchies, creating new opportunities counterposed by risks.

Проблема ценности в цифровом обществе роевого интеллекта

Introduction. The emerging digital society demonstrates the problem of justifying the value, worth and price of digital products and services, which requires consideration of the specificity of value in this society. Theoretical analysis. Following the financial and art market, the boundary between “value” and “worth” is blurred in the digital society. Value, including the value of an individual, becomes variable and is conditioned by the presence of unique attributes and unique experiences that obtain market value. At the same time, under standard digital protocols and technologies, the true uniqueness of an individual experience can only be achieved through the creation of customized digital ecosystems in the form of robotic swarms that support human life activities. A set of digital devices that have sufficient resources to continuously self-renew and form a closed environment around the individual that provides a unique experience can be called a chrysalic swarm. The chrysalic swarm creates an opportunity for the individual to escape from the logic of mutual competition dictated by society. Conclusion. Studying the value problematization in the digital society of swarm intelligence opens a theoretical perspective on the problem of the crisis of social elites in the context of the fulfillment of this scenario of society development.

Analysis of Art Incubation and Related benefit Mechanism: Ex-ploration of Transformation from Traditional Market to Digital Collection

This paper deeply analyzes the incubation and related interest mechanism of the transformation of the art market from the traditional model to the digital one. Firstly, the article summarizes the gradual attention paid by the state to the management of art market, including policy support and legislative guarantee, and points out that the value of art is multidimensional, involving aesthetics, philosophy, politics and finance. The article further discusses the stakeholders in the art market, including artists, middlemen and consumers, as well as their interaction and market operation logic. This paper discusses in detail the transformation of artworks from marketization to financialization, including different operation modes of art investment funds, such as portfolio investment, artist trust investment and art hedge investment. The article also emphasizes the rise of the digital collection market and how it can innovate the incu-bation and trading methods of works of art with the help of blockchain technology and NFT. Finally, the article puts forward some suggestions such as strengthening market supervision, perfecting laws and regulations, promoting the integration of market and finance, and supporting the development of digital collection market, to promote the healthy and sustainable development of the art market.

Crypto-aesthetics: towards a New Materialist theory of NFT art

ABSTRACT The advent of non-fungible tokens (NFTs) in the art world has led to the emergence of a unique aesthetic sensibility, ‘crypto-aesthetics.’ This nascent phenomenon is marked by the amalgamation of digital and traditional art forms, the exploration of decentralisation and blockchain themes, and an emphasis on scarcity and digital ownership. This article proposes to examine the crypto-aesthetic phenomenon of NFT art through the lens of New Materialism, in particular the key concepts of two major New Materialist thinkers, namely Karen Barad and Jane Benett. Our application of New Materialism elucidates crypto-aesthetics as a distinct occurrence stemming from the interplay of object-reality, agency and networks, sociomateriality, and cultural and historical contexts. Utilising the New Materialism perspective to investigate crypto-aesthetics sheds light on the intricate relationships, processes, and consequences shaping the art market vis-à-vis NFTs and digital art. By acknowledging the agency of matter and the entwined nature of human and non-human entities, a more holistic comprehension of crypto-aesthetics’ transformative potential for artistic expression, value generation, and cultural dynamics can be attained. Our theoretical framework offers a novel lens through which to explore and understand the burgeoning world of NFT art and its crypto-aesthetic tendencies.

The Early Formation of the Moscow School of Landscape Painting. Landscape Class of the Moscow School of Painting and Sculpture (MUZHV), 1844–1857

The article delves into the formative years of the landscape class at the Moscow School of Painting and Sculpture (MUZHV), whose growth parallels the advancement of the landscape genre in Russia during the latter half of the 1 9th century. It explores the pioneering efforts of Karl Ivanovich Rabus, the inaugural head of the class, and evaluates his instructional techniques in landscape painting. His methods introduced academic traditions of landscape painting to the School, thereby laying the groundwork for its future development. Additionally, the article delineates the challenges encountered by the nascent landscape painting tradition, attributable to a range of internal and external factors.Drawing from archival records and periodical sources, the author endeavors to reconstruct a detailed portrayal of the class's early years (1844-1857), emphasizing the pivotal role of students in the evolution of artistic life and the formation of the art market in Moscow. The research enhances scholarly knowledge by bringing into focus the identities of the class's students, most of whom are lesser-known artists, alongside their artistic creations, enriching our comprehension of Russian landscape painting during the late 1800s.

Reshaping the art market: Blockchain technology, resale royalties, and the emerging Chinese paradigm

This paper examines the global evolution of resale royalties within the art market, with an emphasis on the transformative role of blockchain technology in enforcing artists’ droit de suite. It delves into the evolution of resale royalties and their enforcement through blockchain technology globally, analyzing diverse approaches in the European Union, the United States of America, Australia, and China, and the universal adaptation of blockchain in this context. Drawing on diverse practices, the paper reveals diverse practices and the complex interplay between economic, legal, and cultural factors in each context. The research underscores blockchain’s potential to offer transparency, security, and efficiency in managing and enforcing resale royalties, as demonstrated by the rise of non-fungible token platforms like OpenSea. The paper also delves into China’s distinctive approach to blockchain, which avoids speculative digital currency markets while fostering digital collectibles within a controlled regulatory framework. The paper concludes by offering strategic recommendations aimed at harmonizing legal frameworks, spurring technological innovation, and preparing markets for these advancements. It calls for a balanced ecosystem that fosters artistic innovation and ensures regulatory compliance, showcasing the enduring influence of early concepts in the current digital era of the art market.

The Death of the Author: The Case of art Market

Recent evidence suggests that the artwork of an experienced artist is usually more expensive than that of a beginner. Additionally, the artwork of a man is often more expensive than that of a woman, and a painting is typically more expensive than graphics. However, this research aims to contrast the influence of the author's age and sex on the price with the influence of the artwork's material and technique. This idea is based on Roland Barthes’ famous philosophical doctrine about the death of the author, which appeared in 1968 and remains relevant today. In our article, this doctrine is tested for the art market. The research question posed is whether the author's influence dies in relation to their artwork after its creation or whether the artwork begins to live its own life without the author. To answer this question, a study was conducted comparing the impact on auction prices of the artist's biography and the characteristics of the artwork. The artist's biography inevitably determines their creativity and affects their art, while the characteristics of the artwork are not directly related to the personality of the author but are important from a consumption standpoint. Several dozen features were identified and divided into author and artwork characteristics. For author characteristics, demographic features such as sex and nationality were used, as well as biographical features such as education and migration. Artwork characteristics included size, material, technique, provenance, author's signature and frame, mentions in scientific literature, etc. By applying hedonic regression on a unique collected dataset of more than 15,000 artworks by the most expensive authors sold at world-famous auction houses such as Sotheby's and Christie's, it was determined which characteristics have the greatest influence on price and which specific features are most important.

An Insight into México Art's Symbolic Value through their Economic Behavior: One Case of Valuation Comparison Between the Emergent Physical and Digital Abstract Art Market, 2021

This work analyzes the phenomenon of the symbolic value in digital art over the circuit NFT in México, considering the economic behavior as a factor to identify their dynamics and characteristics, but at the same time, to recognize their influence and capacity of change from the interaction of the hybrid spaces that have this new kind of artist and pieces of work; to rethink from there, the traditional considerations for the symbolic value to looking at how to be modified in their relation with the circuit of NFT art. This makes it possible to propose an experimental aesthetic economic methodology to compare their different behaviors positions and structures, this time, in the particular case of two artists, who have different stays of symbolic value and activities in the traditional formats and digital art. Access and review of the hybrid quantitative (financial) and qualitative (trajectories and aesthetic) information, allowed the identification of meeting points, disagreement zones, and new spaces of analysis of these phenomena, to bring to the broad new considerations in the symbolic value, that is to say, new variables to consider in the dynamic values in the different kind of productions of our times.