With the globalization of the art market – as demonstrated through the proliferation of art fairs, auctions, and exhibitions – there have never been more ways in which to build an art collection. However, with these opportunities comes the challenge of operating in a complex environment where critical and commercial assessments are not always in sync, and price and value do not always mean the same thing. This course will introduce the key components and considerations associated with building a collection in today’s art world. Participants will study the theoretical foundations of the primary and secondary markets, and will examine the art market as it exists today. Through site visits and guest speakers, participants will have the opportunity to gain the perspective of seasoned collectors as well as experts in the field from galleries, auction houses, and other platforms.
What you will learn…
- To distinguish between the primary, secondary, and contemporary art markets.
- To identify the various exchange points within the art market are and how prices are established within each.
- To understand the practices and concerns associated with building a collection, as well as the tools for collection management