History of Contemporary Art and Auctions : We know the price of art, but not its value…
We know the price of art, but not its value…
The global gold surplus caused by the corona makes art an asset.
Following the recent Christie’s sale of its first NFT art for $7.5 billion, Sotheby’s has also announced an anonymous te The Fungible Collection,” an NFT sale held in conjunction with digital artist “Pak,” was a three-day marketplace sale. The Nifty Gateway recorded sales totaling 1.8 billion yen ($16.8 million).
These auction houses have not been dealing with contemporary art for very long.
Art auctions began about 50 years ago, in 1973, when Robert Scull, a cab company owner, held the “Scull Auction. The first time I saw the exhibition was in 1966.
Buying art is involvement in art. It is an exciting thing. Of course, owning IBM stock is involvement, too.” He stated.
At the time, artists said, “Don’t treat art like a thing! Some people accused him of being a “good guy. Art was to be seen in galleries or museums.
Art historian Barbara Rose recalls that at the time, “Artists who were still alive commanded high prices, and people thought, ‘I can make money by buying cheap and selling high. The first time I realized it,” he points out.
The works of deceased artists are limited in number, so consumers (collectors, investors?) are not interested in them. demand cannot be met. However, some people in the art industry thought that it was possible to create as many new works of contemporary art as possible.
The value of an object is to create demand. If the supply side cannot meet that demand, the price goes up, but as far as art is concerned, that demand is not always linked to value.
Below are some films that will make you think about such things.
The Price of Everything, directed by Nathaniel Kahn
You can watch it on U-NEXT!
* The photo shows RyoShinagawa’s “LANDSCAPE” (2021.4.1 -19) at “OIL GALLERY” (Bijutsu Techo) in Shibuya PARCO until tomorrow. Don’t miss it.