| Art in 2010. Will it be very exciting for you the | | | | contemporary art sales (if they have not already |
| collector and wonderfully challenging for you the | | | | run any). |
| artist? | | | | And for you the artist... |
| For you the buyer... | | | | The demand for quality in art (although I believe |
| Art in 2010 will obtain greater value, and quality | | | | that is a very subjective statement) means that |
| works will be passionately sort after - judging by | | | | the challenge will be greater for the individual artist |
| what I heard from Sotherby's modern and | | | | to produce a work that portrays exactly what |
| contemporary art auction in November 2009... | | | | they are seeking to achieve... and the demand will |
| which was one of their most successful sales - so | | | | also be greater for the artist to explain their |
| far. | | | | work. The potential collector will be looking to |
| Art in 2010 will also take on a greater importance | | | | acquire a basic understanding of what image is |
| financially and within the investment market - | | | | there before them... even if it is to specifically |
| from what I read in Business Week in April 2008. | | | | shock, evoke some other emotion, or even allow |
| Both Sotherby's and Christie's are regarding | | | | the viewer to enter into some kind of meditative |
| modern art sales as a revitalising agent | | | | state. The buyer will be looking for some kind of |
| "Contemporary art is now the driving force of an | | | | empathy with the piece. |
| auction house," (François Curiel, the Paris | | | | Ten years ago up and coming artists looked |
| chairman of Christie's Europe). This rise in | | | | towards art dealers to establish their work in the |
| popularity of the two very different genres, | | | | market place... but now the auction houses have |
| contemporary and postwar art, is partly due to | | | | offered a more open opportunity - a competition |
| the lack of older works available for sale. So new | | | | enabling any artist to find a far quicker, and much |
| fresh works are being sort after - and found. As | | | | more public way of revealing their work. |
| a result Europe, North America, and Asia | | | | This requires the artist to learn how to present |
| contemporary art auction sales have experienced | | | | themselves and their work appropriately. |
| rises in value despite the world economic situation. | | | | Each work does not need to have paragraphs of |
| There is even better news... particularly in France. | | | | explicit explanation - but rather the artist has to |
| Up until June 2009 France was lagging well behind | | | | be prepared to verbalise their philosophy behind |
| in the international art scene controlling just 6.4% | | | | the brush strokes (or what ever marks they |
| of the global art market (compared to 43% in | | | | may employ), or commit a well defined artists |
| the US, and 30% in the UK). So, in order to | | | | statement in writing. This should not be seen as a |
| improve France's art market the French Culture | | | | demand from the potential collector, but rather an |
| Minister Christine Albanel has implemented | | | | opportunity to make yourself and your style |
| zero-interest loans of EUR5,000 to EUR10,000, as | | | | known. With the current economic crisis collectors |
| from June 2009, and more tax breaks for | | | | are re-adjusting how they obtain works... having |
| companies that purchase contemporary art, and | | | | had to tighten their belts they are asking |
| fewer restrictions on auctioning. This opportunity | | | | themselves challenging questions as to whether or |
| has enabled artists, especially those living in | | | | not they should buy, and why... so the artist will |
| France, to look more towards having their works | | | | need to be able to give them persuasive reasons |
| put up for auction. And I think this will mean a | | | | for them to make a purchase. |
| greater number of auction houses having more | | | | |