#Art #Business

sothebysauction05-2006Why are both the art and business world  so strongly connected nowadays?

Knowing art history is obviously an important factor in order to work in the art and cultural heritage field, but the only academic knowledge alone  is not sufficient enough to deal with contemporary societal changes. Once the greatest works were in the museum, few experienced collectors bought art and the other people’s taste was influenced by a restricted number of critics. Today the situation is completely different. A lot of stakeholders (private individuals, banks, public institutions, gallery owners, auctioneers, art dealers and art advisories) are involved in the entire producing, marketing, organizing and selling process.

The market has a fundamental role in guiding the public’s perception and taste on what is deemed art. Although nowadays art is considered a worthwhile investment in reality many collectors, who used to buy art for its aesthetic value, now view the art world in light of its economic potential. As a result of this shift in public consciousness those who work in the field of fine arts also need to have an acute business acumen.

While museums have the authentic artifacts they subsequently must turn to professionals specialized in budgeting, marketing, management and insurance, due to the fact that museums have limited financial resources (now perhaps more so than ever)  they are only capable of hiring one expert to undertake all the aforementioned tasks. Museology is no longer simply about the content of the museum, but more the psychological and business aspects.

It is evident that we have reached an intricate crossroad in which both art and business have clearly intersected and from where a separate distinction is inconceivable, rendering the expression art for art sake obsolete.

 

Marco Selo

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