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What is the Value of Art? How to create demand as seen in Tadanori Yokoo

What is the value of art? I am often asked, “What is the economic value of art?
It all comes down to whether there is “demand” for art. All economies are based on supply and demand. This is true not only for art, but also for virtual currency. Just by putting “bitcoin” in Elon Musk’s Twitter profile, demand will increase.
The art market, curiously enough, has a higher economic value for used art than for new art. The secondary market (Sotheby’s and Christie’s), where only used works are available, is more valuable than the primary market (galleries), where new works are available. ゙ auctions) are larger.
Only those with a definite economic value are distributed. In other words, the economic value of art displayed in galleries as new is the absolute value of curators and fans, not the value that can withstand circulation. Still, top gallerists have the same discernment as futures and angel investors.
So when you go to a gallery to buy a painting, you ask, “Will the price go up?” is a foolish question. If you are really considering art for profit, you need to buy at an auction house, not a gallery, to make the investment worthwhile.
By way of comparison, the art annual yield for FY 2019 is 13.6% (S&P 500 annual yield is 8.9%)
*From the Art Fund’s report on Masterworks, Inc.
Even the Corona Disaster has a %と高配当である。同期間の不動産の資産性は、マイナス1.4% of 5.5. The %と高配当である。同期間の不動産の資産性は、マイナス1.4%.
* Citi Bank’s January-July 2020 report
So what should an artist whose game is to exhibit in galleries think about?
Artists are, in Vonnegut’s terms, “canaries that read the times. It is the artist who can express what he or she feels about social changes and situations. Those who think that art has nothing to do with society should study art more.
Art’s client is society, not corporations.
Some artists are good at creating their own “demand. Jeff Koons and Takashi Murakami are examples. They are geniuses at capturing the interface between their own expression and society.
In terms of creating “demand” and being able to supply it immediately, there is more room for growth in the art world for artists who are alive today than for antique dealers or those who are no longer alive.
If you can create someone who wants it, it will have value. When value is created, a price is set and the product is sold. Once it is sold, it is distributed.
When I visited Tadanori Yokoo’s exhibition, I was excited by his way of creating “demand” that requires no explanation.
In this exhibition, all the portraits drawn by Yokoo in the past are remade with masks on! Interesting.
2021.1.20 [wed] – 2.27 [sat]YUKIKO MIZUTANI GALLERY
◆ Reference
Shunju: American author Kurt Vonnegut once gave a lecture, “The Art of the Canary in the Mine,” Nihon Keizai Shimbun.