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T HE CURRENT A R T MA RK E T Richard Embrey
AN ART GUIDE
The art market has been shrinking for the last two years. The value of all art bought at Auctions and Galleries over the last 20 years has been around $65bn a year. This is now down to about $57bn a decrease of 12%. This has been caused by a significant drop in sales of paintings over £10 million.
However, the lower end of the mark et, painting prices of less than £10,000, has increased and this is a good thing. For in the last 20 years the prices of master paintings, such as Van Gogh, Monet, De Kooning, Pollock , Rothko etc have just risen and r isen, peak ing with the Salvador Mundy by Leonardo De Vinci costing $450 million. Even with the super rich getting richer and richer this is unsustainable. These paintings are only bought by the r ichest collectors or corporations for prestige or ‘ tax break s.’ Unfor tunately these major work s rarely see the light of day, let alone out on public view.
Art used to be about beauty. Then sometime in the 20th Century it became Contemporary and Abstract. Then it was not always beauti ful and you had to work out your own meaning. Now we get told the meaning and the Artist’s life
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story straight away and it spoils the Art. More of ten than not this is done as the Ar t is weak and needs talk ing up and over explained. Think TV talent shows where contestants try to garner support and popular ity with their back story of woe, car ing about the environment etc, whether genuine or not. Some say that the story is more impor tant than the ar t; well are you an ar tist or a wr iter using illustrations? I f you have to explain your ar t in so much detail for it to be interesting and attractive, then the ar t itself is not likely to be that. Art should also not be overly political, as not many people want political statements on their walls.
FASHION AR T G U ID E
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