You are looking at  21-37 of 37 results  for:

  • Art Markets x
Clear All

Article

Molly K. Dorkin

The world’s oldest auction house, founded in Vienna in April 1707 by Joseph I, Holy Roman Emperor (reg 1705–11). Originally called the Versatz- und Fragamt zu Wien (‘The Pawn and Query Bureau of Vienna’), the firm moved in 1777 to the site of an old monastery, the Dorotheerkloster, from which the name ‘Dorotheum’ is derived. By the end of the 19th century the premises were outdated, so Emperor Francis-Joseph I (reg 1848–1916) commissioned the architect Emil von Förster (1838–1909) to design a suitably grand building. This new structure, called the Palais Dorotheum, was completed and formally opened in 1901 by the Emperor, in whose honour the central hall was named. In the early years of the 20th century the Dorotheum introduced many innovations to their auctioneering process, such as the division of sales into categories by object type. The first unique categories, introduced in 1900, were art and numismatics....

Article

Electronic transactions of art over the internet. Since the introduction of the World Wide Web in the early 1990s, e-commerce has grown to become a very important channel for the trade of goods as well as services. Several attempts to transition the art market to the internet have been made since the late 1990s and initial results have been mixed. The e-commerce of art has mainly captured the lower end of the market and only recently efforts have been made to create an electronic presence at the upper end of the market. This segmentation, in combination with concurrent technological advancements, led to new ways of experiencing art online and is driving the transformation of the art market that we see today.

Consumer markets on the internet have grown rapidly since the 1990s and, in 2014, e-commerce represented more than 6 per cent of all retail trade in the USA, growing at 15 per cent annually. Globally, it exceeds $1 trillion every year. Thus, e-commerce has grown vastly since the mid-1990s, when one of the most prominent operators of internet auctions opened to the public: eBay.com. Due to its success, eBay has become one of the most studied online markets and it has also had a large impact on many other marketplaces around the world, which, with only small modifications, have mimicked its design....

Article

Joseph R. Givens

(b Los Angeles, CA, April 19, 1945).

American art dealer. Gagosian is considered a catalyst for the globalization of the art market. Raised in Los Angeles by a middle-class family, Gagosian did not recall visiting an art museum until he was in college. After studying literature at the University of California, Los Angeles (UCLA), from 1963 to 1969 he worked in several entry-level office jobs before making the transition to entrepreneur with a kitsch poster business near UCLA. Within a year, Gagosian transformed the poster business into a frame shop and art gallery, and over the course of the following three decades, he became the sole owner of a powerful art empire.

Realizing the limited sales potential in Los Angeles, he moved to New York and opened a gallery in SoHo with business partner Annina Nosei. In 1980 he returned to Los Angeles and arranged shows that rivalled New York dealers, including a notorious Jean-Michel Basquiat residency in April of ...

Article

Molly Dorkin

Place where works of art are displayed. In a commercial gallery, works of art are displayed for the purposes of sale (for information on non-commercial art galleries see Display of art and Museum, §I). Historically, artworks were commissioned by patrons directly from an artist and produced in his workshop. In the Netherlands, the economic boom following the conclusion of the Eighty Years’ War with Spain (1648) led to rising demand for art. Patrons began buying from dealers, some of whom produced illustrated catalogues. Antwerp became the centre of the art world. Galleries for the display and viewing of art appeared in paintings by Teniers family, §2 and Bruegel family, §3, although these were private not commercial spaces, or imaginary constructions.

The Paris Salon, which had been organized by the Académie Royale de Peinture et Sculpture since 1667, was opened to the public for the first time in ...

Article

[emerging art markets]

Since the 1980s art markets have developed rapidly outside of Europe and the USA. In the so-called BRIC countries (Brazil, Russia, India, and China) this development has been particularly dynamic. With aggregate sales estimated at €11.5 billion, China is the second largest market for art and antiques in the world after the USA (McAndrew 2014). Works of art made by modern and contemporary artists from all four countries regularly fetch more than $1 million at auction.

The rise of the BRICs has coincided with the global integration of what used to be local art markets: demand for and supply of particular artists or artistic movements may now be dispersed across the globe. The boom which global art markets have witnessed in the new millennium can be attributed partially to new buyers from countries like China and Russia developing an interest in art, both old and new. In describing the emergence of the BRICs, the focus in this article will be on modern and contemporary art, since that is where market development has been most significant, both qualitatively and quantitatively....

Article

Thomas P. McNulty

(b Cleveland, OH, Aug 13, 1938).

American patron and collector. Born the second of six children to wealthy parents in Cleveland, Gund was exposed to the arts—and to art collecting in particular—by her father, George Gund (1888–1966), a banking and investment professional. Gund received a BA in art history from Connecticut College, New London, in 1960, and an MA, also in art history, from Harvard University in 1980. The mother of four children with her first husband, Albrecht Saalfield, she is perhaps best known for her work in museum administration and governance. She has served on the Board of Trustees of the Museum of Modern Art (MOMA), New York, since 1976, as the Board’s President from 1991 to 2002, and subsequently as a Member Emerita. As President of the MOMA board, she built upon the progress made by her predecessor Donald Marron (an executive at Paine Webber). She also served as Chairwoman of the Board of Directors at MOMA PS1—an affiliation that began in ...

Article

Joseph R. Givens

(b Los Angeles, CA, May 3, 1932; d Los Angeles, CA, March 20, 2005).

American dealer, curator, and museum director. Hopps pioneered international awareness of Pop art and helped to establish Los Angeles as an internationally recognized art centre. He opened museum doors to contemporary art and paved the way for the explosion of the contemporary art market in the 1980s.

As a teenager, Hopps was introduced to modern art through frequent visits to the famous collection of Walter and Louise Arensberg. Hopps went to college to study medicine at the behest of his parents, first at Stanford University then at the University of California, Los Angeles (UCLA), but classes in art history, jazz concert promotion, and the creation of Syndell Studio eclipsed his science curriculum. Hopps’s ambition for a large-scale exhibition of West Coast Abstract Expressionism outgrew Syndell’s salon-style space. In 1953 he arranged Action 1, one of the first exhibitions of action painting outside New York. Hopps’s partnership with artist Edward Kienholz...

Article

[tribal art]

The market for ‘tribal art’ emerged in the first decades of the 20th century. By way of avant-garde artists and pioneering dealers, African and Oceanic art slowly became accepted as ‘art’—with its inclusion in the Musée du Louvre in Paris in 2000 as a decisive endorsement. Initially, it was referred to as ‘primitive art’—alluding to an early ‘primitive’ stage in human development; later replaced by the equally biased ‘tribal art’. While still used widely among dealers and collectors (for want of a better word and being conveniently short), the term ‘tribe’, or its derivative ‘tribal’, is frowned upon by the scholarly community.

The foundations of the tribal art market were laid at the turn of the 20th century. European powers colonized large overseas territories in both Africa and Oceania and, along with other commodities, there arrived ethnographic artefacts. Europeans had conducted coastal trade with many African regions over centuries, but systematic explorations of the continental hinterland did sometimes not take place until the first decades of the 20th century. These resulted in the discovery of previously unknown cultures whose ritual objects, such as masks, were displayed during world’s fairs and colonial exhibitions. Many of these objects ended up in newly established museums, such as the Royal Museum for Central Africa in Tervuren, outside Brussels. Vigorous competitors in the collection of ethnographic objects in both Africa and Oceania, these museums became the leading players in the early phases of the tribal art market’s development. Next to these large-scale official collecting activities, colonial, military, or missionary personnel also brought home exotic objects....

Article

Roberta Rosenthal Kwall

Legal doctrine concerning authors’ rights that protects a creator’s personal, as opposed to economic, interests. These protections include the creator’s right to appropriate attribution and the right to have the integrity of one’s work properly maintained (see also Art legislation).

The law governing authors’ rights in the USA reflects an incomplete understanding of the motivations for human artistry. Copyright law, the body of law governing authors’ rights, rewards economic incentives almost exclusively. From the beginning, American copyright law has been designed to calibrate the ideal level of economic incentive to promote creativity. With the exception of a narrow form of protection for certain types of visual art, copyright law in America does not provide authors with legal protection such as the right to have their works attributed to them, or the right to have their works maintained and presented in a manner consistent with their artistic vision. These rights are known, respectively, as the right of attribution and the right of integrity and they are part of the larger doctrine of moral rights law....

Article

Thomas P. McNulty

International contemporary art gallery based in New York City. The gallery was founded by Arnold (‘Arne’) Bruce Glimcher (b 1938), who studied painting at the Massachusetts College of Art and Design in Boston before going on to graduate school from Boston University (combining art history with studio art). The gallery takes its name from Arne’s father, Pace Glimcher, a Russian immigrant rancher who settled in Duluth, MN. Arne’s mother, Eva, who was also a Russian immigrant, left Minnesota in the mid-1940s for Brookline, MA, whose proximity to Boston proved a great boon to Arne’s cultural exposure and development.

Pace Gallery opened first at 125 Newberry Street, Boston, in 1960, where it featured New England–based artists, including Albert Alcalay (1917–2008), David Berger (1920–66), and Lawrence Kupferman (1909–82), among others. Glimcher’s keen sense of marketing became evident in the gallery’s early years; he managed to establish a relationship with Louise Nevelson’s New York dealer—the Martha Jackson Gallery—and presented the artist’s works in Boston. By late ...

Article

Molly K. Dorkin

[Messrs Phillips & Son; Phillips, Son & Neale; Phillips de Pury & Company]

Auction house founded in London in 1796 by Harry Phillips (d 1840), formerly senior clerk to James Christie (1730–1803). Phillips’ inaugural sale of household furniture was held on 23 April 1796. The auctioneer soon distinguished himself by combining the skills he had learnt from observing Christie’s methods with a talent for ceremony and showmanship. Many of his innovations, such as holding lavish evening receptions for his clients and translating the business of sales into theatre, are widely employed by auction houses today. In his first year of business Phillips oversaw 12 auctions. He was soon charged with selling some of the most distinguished collections of the era, including those of Marie Antoinette, Stanisław II Poniatowski of Poland, and Napoleon Bonaparte. In 1823 Phillips was commissioned to auction the collection at Fonthill Abbey, a sale originally offered to Christie’s. Instead, it was Phillips who conducted an epic 30-day sale of the contents of the house. Some 7200 people attended the pre-sale viewing. Phillips also presided over the only auction ever to be held in Buckingham Palace, in ...

Article

Bénédicte Martin

(b Les Champs-Géraux, Côtes d’Armor, Aug 21, 1936).

French businessman and collector. A self-made man of modest origins, Pinault expanded a small family timber business into a commercial empire: the PPR (Pinault Printemps Redoute) group, amalgamated in 1994. In 2015 he had an estimated fortune of $14 billion and, according to Forbes, was one of France’s most important businessmen worldwide.

In 1998 Pinault became involved in the art market when he purchased the auction house Christie’s. At the same time he began buying contemporary art and formed one of the key international collections in this field. In 2000 he announced his decision to establish a museum on the Ile Seguin, in Boulogne-Billancourt near Paris, to exhibit the works in his possession. Pinault presented this initiative as a new model for supporting contemporary art through the involvement of collector-patrons. His goal was both to stimulate renewed interest in contemporary art in France and to propose new forms of partnership between the public sector and private sponsors. Pinault decided finally to abandon the Ile Seguin project because bureaucratic obstacles and political manoeuverings caused unacceptable delays....

Article

Two circulation models that constitute the art market: a primary market that structures the initial launch of an artist’s work and a secondary, or resale, market. Primary and secondary markets exist within the context of the Art market, in which works of art are exchanged for money or barter, allowing for creative value to be measured against other investment alternatives.

The art market emerged from the cultural and economic changes after the Reformation, especially in the northern Netherlands. When art became divorced from religious worship, the tradition of ecclesiastical patronage ceased. During this same period, there was an expansion of the Protestant mercantile class, who became the new art buyers. For the new bourgeois middle class, art served as a symbol of social achievement. Artists began to challenge their roles as mere craftsmen and demand that their creations be considered intellectual property. Founded in 1648, the Académie Royale de Peinture et Sculpture (...

Article

Noémie Goldman and Kim Oosterlinck

Term for the return of lost or looted cultural objects to their country of origin, former owners, or their heirs. The loss of the object may happen in a variety of contexts (armed conflicts, war, colonialism, imperialism, or genocide), and the nature of the looted cultural objects may also vary, ranging from artworks, such as paintings and sculptures, to human remains, books, manuscripts, and religious artefacts. An essential part of the process of restitution is the seemingly unavoidable conflict around the transfer of the objects in question from the current to the former owners. Ownership disputes of this nature raise legal, ethical, and diplomatic issues. The heightened tensions in the process arise because the looting of cultural objects challenges, if not breaks down, relationships between peoples, territories, cultures, and heritages.

The history of plundering and art imperialism may be traced back to ancient times. Looting has been documented in many instances from the sack by the Romans of the Etruscan city of Veii in ...

Article

John A. Walker

(b June 9, 1943).

British collector and patron. With his brother Maurice (b 1946), he was one of the major shareholders in one of the largest international advertising agencies. Using wealth generated from the company Saatchi & Saatchi, he and his wife Doris (divorced) acquired in the space of a few years a substantial collection of contemporary fine art. The artists whose work was represented within the Saatchi collection include Julian Schnabel, Andy Warhol, Sol LeWitt, Robert Ryman, Robert Longo, David Salle, Georg Baselitz, Anselm Kiefer and Leon Kossoff. Saatchi was willing to purchase very large-scale pieces, often acquiring several works at a time by one artist, so contributing to a deeper understanding of the artist’s work. The stylistic range of the works in the collection makes it difficult to discern a specific taste. In order to display the collection to the public Saatchi employed the architect Max Gordon (b 1931...

Article

Joseph R. Givens

(b Abadan, May 15, 1943).

Iranian photographer, curator, and art dealer, active in the USA. Shafrazi introduced graffiti to the mainstream art market and contributed to the contemporary art boom of the 1980s. Raised in Abadan, a small port town that experienced an oil boom in the post-war years, Shafrazi was fascinated by Western popular culture and art. He moved to England in 1956 and three years later began formal art study at Hammersmith College of Art and Building, before continuing at the Royal College of Art, where he graduated in 1967. Following college, Shafrazi pursued a career as an artist while also teaching, first at the Manchester College of Art then at the School of Visual Arts in New York in 1969.

A newfound interest in political activism shifted his creative focus from art objects to art actions. His involvement with the latter culminated in an infamous incident that took place on 28 February 1974...

Article

Tom Williams

Exhibition of contemporary art held periodically at the Whitney Museum of American Art in New York. It was first held in 1932, shortly after the museum first open its doors to the public and has consistently showcased a broad range of trends in contemporary art. Its organization and frequency has varied wildly over the years. In its early years, the exhibition typically alternated between painting and other media, and it occurred either on an annual or biennial basis. In 1973, however, it assumed its current form as a single exhibition of painting, sculpture, and other media occurring every two years. The exhibition has often been controversial and widely criticized, but it continues to be regarded as a crucial barometer of current trends in contemporary art.

It was originally conceived as a continuation of an earlier series of annual exhibitions that were organized for members of the Whitney Studio Club. This organization was founded in ...