market forces
Market Forces
Our first collection of archival stories looks at the major financial shifts and trends that have impacted collectors and those in the trade since 1990—and continue to be relevant today
Some think the trade was more concerned about the risk of losing sales than its reputation, observed our editor-at-large in 2015
While the 2008 global financial meltdown largely failed to dent sales, in 2015 our editor-at-large warned that the falling oil price experienced at the time could prove much more serious
In 2014 we noted that market speculation can offer rich rewards, but in the long term, it may do collectors more harm than good
The New York critic discussed the recession, likeability and why the market is like magic mushrooms in a 2008 panel
Tough times lie ahead for galleries, but auction houses and art advisers could continue to prosper this year
Demographic change is probably the most important factor in shaping the market's future, wrote this expert in 2011
The Italian dealer and co-founder of Sperone Westwater spoke to us in 2011 about botany, the difference between European and US galleries and why the "big gallery" systems won't last
But despite strong headline sales, missed estimates and cautious collectors signalled that 2010 would not be a return to the wild days
We noted in 2010, amid a painful global downturn, that a Picasso nude carried the largest pre-sale auction estimate in history at $70m to $90m
Lines are drawn between those who favour openness and others who prefer “handshake” culture
2010 will be a year of continued reshaping
Both have adopted marketing strategies more typical of luxury goods firms than artists. In 2009 we looked at their market history
During the Great Recession in 2009 we reported that gallerists must act "quickly and brutally" in order to survive
The outspoken cultural critic and art historian shared his thoughts on the market during a talk at Frieze art fair in 2007—here is the transcript
In 2007 we noted that strong sales at auction and fairs and more money coming from Russia, Indian and Chinese collectors indicated that confidence in art remained strong
In 2007 the economist James Sproule examined the risks facing the market—and the good news was it was not all doom and gloom
There is a danger that money will trump knowledge, observed the New York dealer in 2007
The veteran dealer Richard Feigen on the state of the art market in 2007
In 2007 we observed that while most are seen as opportunistic shoppers, some are as knowledgeable as museum curators
In 2007 the creative industries consultant noted that the “insider” aspect of the contemporary art market and hierarchy of knowledge and status that it creates was a significant part of its attraction
In 2006 we reported that attempts to accurately measure the market are being thwarted by auction guarantees and private sales between tight-lipped collectors
In recent years have seen works sold for explosive prices—and now in 2006 we are asking if this an indication of an accelerating trend or a reflection of the cyclical nature of the market?
Is it time for reform? Murky dealings came to light in 2005 as more collectors began to enter the scene—and brought their cases to court
The British Art Market Federation chairman on Artists' Resale Right representing a serious challenge to market competitiveness in 2005
From a game-changing Japanese scandal to price-fixing at the world's leading auction houses, we look at the most significant developments over the past ten years
In 2001 they predicted that some areas such as the Old Master market will remain stable but that trendy art would lose its zip
In 2001, the Yale professor attributed the one- to two-year lag between crashes to the time it takes to liquidate assets
“We are a technology platform, not an auction house,” said Mark Poltimore in 2000. The onetime auction boss wants to make European sales more accessible to US and UK audiences
The advice on how to be successful in the online world offered here in 2000 centred on building a community and having a shared sense of purpose and trust