Watch this beautifully composed depiction of the current Art Market and how it functions. This video, part one of four in the series, does a great job at outlining the moving parts of the ‘Art World’. This is how artwork is bought and sold in today’s world wide markets. This is a must watch for anyone interested in Art as a discipline, and as a business.
about the video:
How did the art auctions business become a multi-billion-dollar industry? The first film in a series about the art market explores this question, leading viewers through the complex history of auctions, with specific attention to the last 20 years. The film unpacks record-breaking sales, like last week’s epic Jean-Michel Basquiat painting Untitled (1982), hammering in at $51 million, and anomalies such as Ai Weiwei’s Kui Hua Zi (Sunflower Seeds) (2010), which pop up at auction in countless different quantities, making the connection between the auction price and market value of art. Interviews with auction-house specialists, financial analysts, and art-world influencers like Adam Lindemann, Xin Li, Sarah Thornton, Josh Baer, and Don Thompson add personal insight and shape the narrative.
Auctions launches a four-part documentary series, followed by Galleries, Patrons, and Art Fairs, released weekly through mid-June. Together, the four segments will tell a comprehensive story about the art market’s history and cultural influence, providing an approachable yet nuanced introduction to a extraordinary subject.
Artsy is a free online platform designed to connect collectors to art. Artsy’s search engine and database draw connections and map relationships among works of art. Led by Carter Cleveland, computer science graduate from Princeton and Sebastian Cwilich, former executive of Christie’s and Haunch of Venison director, Artsy aims “to make all the world’s art accessible to anyone with an internet connection.”
Artsy is backed by a group of investors, including Eric Schmidt, Wendi Murdoch, Dasha Zhukova, Thrive Capital, Jack Dorsey, Bob Pittman, Rich Barton, Jim Breyer, Keith Rabois, David Tisch, Chris Dixon, Peter Thiel, Charlie Cheever, Dave Morin, and David Kidder. John Elderfield, former chief curator at New York’s Museum of Modern Art serves as Artsy’s senior advisor and Larry Gagosian and Marc Glimcher, president of Pace Gallery, are advisors.