Global Art Market
Artists torn between local and global markets
I was recently among creatives who attended an incubator programme by Hustlesasa at The Alchemist, Nairobi. That day, we were to be mentored by musicians Tetu Shani and Olivia Ambani on how to turn our passions into profits.
The session was amazing, and at one point, I raised my hand to ask whether it is more profitable to market one’s art abroad than in Kenya, seeing as art isn’t appreciated as much here. Tetu Shani answered that it is a subjective case since some have succeeded, while others haven’t. The answer wasn’t satisfactory, and so are all others that mention how something is ‘subjective’ or ‘relative’, because it’s a formal way of saying, “We’re not sure about that, and the only thing we’re sure about, is that we’re not sure about that.”
Read more: https://www.the-star.co.ke/sasa/lifestyle/2023-11-17-artists-torn-between-local-and-global-markets/
Artmarket.com, an Art Market global player with a strong emphasis on data, databases, and AI technology, reports numerous achievements including state recognition, innovative partnerships, and the successful implementation of a Standardized Market Place for art transactions. The company, which is geared towards a sustainable and tech-forward future, engages a large member base and is recognized for its eco-responsible initiatives.
Read more: https://www.tipranks.com/news/company-announcements/artmarket-com-innovating-the-global-art-market
Global Art Market
Christie’s CEO on hopes for new Asia HQ in Hong Kong, and its place in global art market
The usually smooth back and forth between auctioneer and bidder had an unexpected hitch during the sale of the top lot in Christie’s evening sale in Hong Kong on September 26.
Xin Li, deputy chairman at Christie’s, indicated to veteran auctioneer Adrien Meyer that her client on the phone wanted to place a bid for Vincent van Gogh’s Les Canots Amarrés (1887).
Instead of just adding a standard increment to the last bid, which was already at around HK$200 million (US$25.7 million), she hesitated and then blurted: “26 million!” Her client, it
“You can either buy clothes or buy pictures.” (Gertrude Stein)
The air will be filled with a different kind of buzz in Seoul this week as it hosts the third annual international art fair, Frieze Seoul. Over 110 leading art galleries worldwide will assemble for four days at the COEX Convention and Exhibition Center in Gangnam to showcase various works of contemporary art to guests and collectors. There promises to be no shortage of side events taking place throughout the city in coordination with the exhibit. Attendance this year is expected to be similar to the past two years at about 70,000 participants, which is larger than Frieze Los Angeles (roughly 35,000) and Frieze New York (roughly 25,000) combined but still slightly smaller than Art Basel Hong Kong or Frieze London (each at about 85,000). The event is part of a broader trend that suggests South Korea is emerging as a tour de force in the art world.
Read more: https://keia.org/the-peninsula/south-koreas-emergence-as-a-hub-in-the-global-art-market/
