Introduction to Art Business, Art and its Markets I, Art and Its Markets II

This intensive 3-week program combines all art business intensive offerings: Introduction to Art Business, Art and its Markets I, and Art and its Markets II.

This package gives students the opportunity to not only grasp the fundamentals of art business, but also to move beyond the basics and gain a deeper understanding of the art market’s movements and what drives them. Through a series of lectures, site visits, and discussions, students will be granted insider access to the world of art business and be able to contextualize important topics in the real world, from understanding all that it takes to run a gallery today to analysing market trends and how collectors or art advisors may make their choices.

Introduction to Art Business  

In this overview course, participants explore the art market ecosystem, looking at the primary and secondary markets and the various stakeholders involved, including galleries, art fairs, and auction houses. Students will gain practical skills connected to art business, including accessing and analysing art market data, understanding different collecting categories and how they have driven the market over the years, and the role that technology and innovation play in today’s market.   

We will investigate the gallery business model and a gallery’s relationship with artists; we will look at how auctions have evolved over centuries and how auction houses operate today; and we will ask who collects art and why. Throughout the course, students are introduced to all of the key stakeholders who make up the contemporary art market (e.g., artists, curators, gallerists, auction house specialists, entrepreneurs). Through lectures, seminars and site visits, students gain a foothold in understanding how today’s art market operates. 

Art and Its Markets I 

This course builds on a foundational understanding of the art market by contextualizing basic principles using real-world scenarios. Students will become familiar with the knowledge, skills, and activities that support the art market, from practical considerations like shipping and restoration to scholarly research around restitution. Students will investigate businesses that service and support the market, from established shippers and restorers to tech startups disrupting the industry. Students will also investigate how art accrues value and how collectors leverage that value in several ways. The course will examine how value is assigned and estimated by art market specialists, and how sales are negotiated in various market settings. We will also look at where the art market meets the law and investigate specific cases. 

Art and Its Markets II 

This course is designed to hone students’ existing understanding of the art market and grant them exposure to some of the most pressing considerations and conversations in the market today. This course will identify and discuss the latest trends in the contemporary art market and ask where the market might be headed in the future. Students will investigate the recent rise of Paris as a contemporary market hub and consider what this means for London’s role in the market. The course will explore how the gallery business model is evolving and the role that art fairs have played in the market’s expansion, as well as how new buyers are entering the market and how their tastes are changing the business. Additionally, participants will be given the knowledge and resources to answer challenging questions like: Are there too many art fairs? Is the gallery business model top heavy? Is the art market doing enough to be sustainable? Through site visits, lectures, and expert guest speakers, students will deepen their knowledge of the contemporary art market.