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Andrew McClellan and Linda Whiteley

In 

See Paillet family

Article

Nancy G. Heller

In 

See Mellon family

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Judith Zilczer

Exhibition of art held between 17 February and 15 March 1913 in New York at the 69th Regiment Armory, Lexington Avenue, Manhattan (see fig.), from which it derived its nickname. The exhibition then travelled to the Art Institute of Chicago (24 March–16 April) and Copley Hall, Boston (28 April–19 May). This first large-scale show of modern art held in the USA (...

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Bénédicte Martin

(b Roubaix, March 5, 1949). French businessman, patron, and collector. Born into an industrial family from northern France, Bernard Arnault studied at the Ecole Polytechnique in Paris. After completing his studies, Arnault took over the family’s construction business, Ferret-Savinel, which he converted into a real estate company by the name of Ferinel in the 1980s. He then took over the Boussac Group, which was facing financial difficulties but controlled the department store Le Bon Marché and the fashion label Dior, among other assets. The ‘Arnault System’, which evolved from these moves, relied on a series of acquisitions that culminated on ...

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French, 19th century, male.

Born 1798, in Paris.

Painter, picture dealer. Panoramas.

Charles Arrowsmith studied with Daguerre and painted dioramas alongside him. He exhibited in Paris in 1827, in Douai in 1829, and at the Royal Academy in London in 1830. He was responsible for promoting English watercolourists and introducing them and also Constable to a broader public in France....

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Molly K. Dorkin

Paid adviser employed by collectors to recommend and facilitate the purchase of works of art. There is a long history of recruitment of art experts by wealthy patrons for advisery purposes. In the 18th century art historians such as Johann Joachim Winckelmann were actively advising leading collectors like ...

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Thomas P. McNulty

International modern and contemporary art fair. The brainchild of three Swiss art dealers (Ernst Beyeler, Trudi Bruckner, and Balz Hilt), the first annual Art Basel fair was held in 1970, at which 90 galleries and 30 publishers from 10 countries exhibited. Participation has grown significantly, with its ...

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Latin American art has held a strong place in the international market since the 1990s, with markedly less speculation than other geographic areas, such as in China. However, the growth of international exhibitions in Latin America has helped to increase the visibility of modern and contemporary Latin American artists on the global stage, both expanding awareness of regional traditions and dispelling stereotypical notions of a monocultural Latin American style.

The São Paulo Art Biennial, the second oldest art biennial in the world, was founded in 1951 under the auspices of the Italian Brazilian industrialist and arts patron Francisco Matarazzo Sobrinho (also known as Ciccillo Matarazzo) and his wife Yolanda Penteado. Initially conceived as an extension of the then recently established Museu de Arte Moderna de São Paulo (1948), the Biennial aimed to provide knowledge of contemporary art trends—primarily from Europe and the United States—to the Brazilian art world while also spotlighting Brazil as an international contemporary art center. Modeled after the Venice Biennale, the São Paulo Biennial in its early years was organized around national pavilions (“National Representations”) exhibiting works from Brazilian artists and those from countries participating in the event via diplomatic invitation. In the early 2000s this format was completely abandoned; only the display of Brazilian art works and international exhibitions organized by rotating chief curators remained. Since ...

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The origins of the term and concept of the “canon” can be traced to antiquity when the Greek word for “measuring stick,” or kanon, originated, but the meaning and connotations of the term canon has changed over the course of the history of art. In this context, the canon is a flexible construct used to identify exceptional artworks, selected by authority, against which all other artworks were to be judged. The idea became a central focus of western artistic production during the 18th and 19th centuries, when academic institutions, the center of power and influence in the art world, used rigid and hierarchical models to develop an “academic style” which valued, in form, a stoic realism and, in content, neoclassical themes. With the introduction of the avant-garde and modernism in the 20th century, the field of art became a more open system with artists and galleries challenging canonical norms. However, academic institutions maintained their defense of the art historical canon until the late 1950s....

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Christophe Spaenjers

Statistical measure showing the development of art prices since a chosen base year. Index series are often represented as graphs, and allow for a comparison with the performance of other assets. An index also enables the measurement of the correlation of art returns with changes in valuations of other investments. Two techniques are commonly used to construct an art price index based on auction transaction data. First, so-called ‘hedonic’ methods use all available sales information to measure changes in quality-adjusted average transaction prices. Second, ‘repeat-sales’ regression models only use price information on artworks for which at least two transactions are observed to estimate the average return in each period....

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Laurie A. Morin

Reviser Friederike Gräfin von Brühl

Multilateral treaties and bilateral agreements relating to art, made largely in the latter part of the 20th century. These agreements were set up by nations in response to an unprecedented combination of political, economic, and technological changes affecting the art world, especially the tension between the demand for a free international art market and the need for countries to protect their own resources. This need for regulation is manifested in two important legislative areas: the increasing demand among developed nations for global recognition of their intellectual property rights, and the increasing demand among emerging nations for legislation to protect their cultural properties....

Article

Bruce Tattersall and Natasha Degen

The arena in which a buyer seeks to acquire, either directly or through an agent, a particular work of art for reasons of aesthetics, connoisseurship, investment, or speculation. The historical beginnings of the art market lie in patronage. With the growth of Collecting for aesthetic and worldly motives rather than religious ones came a corresponding growth in ...

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Anne Helmreich

Over the modern period, the art market and the press (referring to the publishing apparatus associated with news reporting) developed a close symbiotic relationship as borne out in the histories that unfolded in western Europe and North America. When The Times of London launched in ...

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Iain Robertson

Art markets have opened and closed throughout history; there is evidence of a trade in seals, crafted in lapis lazuli in eastern Iran, along a route that included Mesopotamia, Syria, the Levantine, and Egyptian Thebes during the time of Tuthmosis III (reg c. 1479–...

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The collecting cycles and art market trends in Australia from 1995 to 2010 clearly reflected the developments in art markets all around the world. The market for all periods in Australian art peaked in 2007, decreasing by a third before forming a plateau. Primarily, the building of Australian art collections dominated art sales, with only a small percentage of collectors involved in collecting international art. Although the latter was a growing trend, accessibility to the international art market limited this area of collecting....

Article

While the art market in the 21st century is small relative to other creative industries—and negligible in comparison to financial markets—it is bigger than ever before in terms of its geographical scope, consumer base, and influence on culture at large. Since the turn of the millennium it has expanded dramatically, even in the face of the worst economic downturn since the Great Depression. From 2000 to 2007 the size of the art market grew nearly threefold. After a brief contraction of 33% in 2009, the market recovered and achieved a historic peak of $68.2 billion in 2014, despite having since cooled (in 2017, sales totaled $63.7 billion; McAndrew 2018). Boosted by the rise of China and increasing wealth inequality, the art market has been reshaped by trends in the broader economy: globalization, privatization, and financialization. As the market adjusts to these new conditions, it has entered a transitional phase, with its business models evolving and its reach widening....

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Christophe Spaenjers

Set of financial methods, instruments, and business models that are used in the Art market. Important developments since the 1960s include the spreading availability and use of art price information and price indexes (see Art index), the emergence of loans collateralized by artworks, repeated efforts to create art investment structures, and a strong growth in art market advisory services provided by wealth managers and new entrepreneurs (...

Article

Bénédicte Martin

French auction company, headquartered in one of the most prestigious hôtels particuliers at the intersection of the Champs Elysées and the Avenue Montaigne in Paris. Artcurial was created in 2001 and specializes in fine art sales, design, and fashion; it also has built a reputation for sales of multiples, including comics and photographs, as well as watches, jewellery, and collectable cars. The rise of France’s foremost domestically owned auction house should be perceived in the context of events unfolding in ...

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British collector of American birth. He was a member of a wealthy family whose fortune came from fur trading; he became interested in art and antiquity during his appointment as American Minister in Rome (1882–5), rapidly acquiring a fine collection of ancient and Renaissance sculpture. He transferred the collection to England when his term as minister ended, dividing it between his country houses at ...

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Molly K. Dorkin

Prior to the 20th century, the attribution of works of art was not governed by rigid regulations, and art dealers and auctioneers assigned attributions based purely on aesthetic grounds. Works were attributed to the artist whose manner they most closely resembled, but they were not further distinguished on the basis of quality; as a result, many paintings purchased as Renaissance masterpieces in the 18th or 19th century have since been downgraded to studio works or even much later pastiches....