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Globalization in the art market — a brief introduction

feralhorses - 7th June 2019 - 0 comments

You are on your laptop in London and you have casually seen this painting from a Spanish artist situated in New York. Well, there is no doubt that you are able to contact the artist and communicate further with him. Even more, the globalisation trend has opened many artists’ perspectives to new heights. However, as beneficial globalization can be, it is a two-faced sword.

Globalisation might not have touched every corner of the world as many people point out, but it certainly has had an influence in the art world. Here I will point out some of the geographic locations gaining popularity, a few important fairs and the Internet’s effect.

So, apart from New York, London, Paris, and Hong Kong, there are new star cities on the rise. For any art investor, it is beneficial to know where he can find new and intriguing pieces and escape the most popular art centres. In the end, you never know what you might find away from the crowds! Cities like Beijing, Istanbul, Brussels, Barcelona, and Detroit might not be the first ones to pop up in your head, but they are actually very well established in the art world and definitely worth visiting. Other less popular centres, but undoubtedly attractive for those who like to be on the left side of the adaptation wave, are Bogota, Mexico, Hobart, and Lunenburg.

MoMA by Changqing Lu

Art fairs are another meeting point for collectors and artists. The most famous ones are the Armory Show in New York, the Biennale in Venice, TEFAF’s fairs in Maastricht and New York, FIAC in Paris, ALAC in Los Angeles, Art Basel in Basel and Frieze Art Fair in London. Those ones should be a good enough starting point for anyone interested in the art market.

Traveling among different locations has never been easier and today’s freedom of movement has increased the art tourism. More and more people visit galleries and museums and have the ability to see live art pieces they could once only dream about. Also, art collectors now have the opportunity to meet artists in different corners of the world and get to know them better. On the other hand, the Internet is another mean of art sharing. People are learning to appreciate different types of art from different historical periods. Anything you need to know you can find on the Internet. It is really interesting that many artists share their artworks on platforms such as ArtSpace, ArtNet, Paddle 8 and even Amazon and Instagram. Through these websites and many more, less known artists can gain almost immediate exposure.

Globalisation certainly has its benefits, but this major liberalisation of the art market can also be very scary. Authenticity checks of the artworks, artists, and platform should always be made. Also, this huge exposure has facilitated imitations and even thefts or art pieces. So, you should never forget to do your homework before buying any artwork!

Written by Elitsa Yordanova

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