Why on earth do people buy art? For love? For money? As an academic researcher on the subject of art collecting, I frequently witness misconceptions that people have about art collectors. Read on for some examples....
Despite the glitzy image of the art world and the record breaking prices that hit the news in the past year, behind the scenes, the art world is suffering from a crisis in terms of values and economy. Contradictions are inherent in this topsy turvy world. A small number of high end sales do not reflect the reality.
If I were asked to give this decade a title - without hesitation I would name it “The contemporary art revolution”. In this decade all records were broken and it seems that all the fundamental parameters that determined the prices of the art market were disrupted.
