Art market
Definition and description
of the industry
The art market refers to the purchase, sale and marketing of works of art. This includes painting, sculpture, photography and other forms of artistic expression. The market is complex and diverse, involving artists, collectors, galleries, auction houses and museums. It is influenced by cultural, economic and social factors and is an important indicator of trends in the art world.
Key steps and players
in the value chain
1.
Creating works of art
Production of original artworks, often motivated by a personal artistic vision.
Actors
Artists, craftsmen.
2.
Representation and promotion
Representing artists and promoting their work to collectors and the public.
Actors
Galleries, art agents, public relations, social networks.
3.
Exhibition
Organising exhibitions to present artworks to the public and potential buyers.
Actors
Galleries, museums, temporary exhibitions.
4.
Sales and negotiation
Sale of artworks, often to the highest bidder, or through private transactions.
Actors
Auction houses, art brokers, gallery owners.
5.
Authentication and assessment
Assessment of the authenticity, provenance and value of works of art.
Actors
Art experts, curators.
6.
Conservation and restoration
Maintenance and restoration of artworks to preserve their quality and value.
Actors
Restorers, curators.
7.
Collection and investment
Purchasing and conserving artworks as a form of cultural and financial investment.
Actors
Private collectors, art investment funds.
