I earn money buying and selling art for last 20 years, and here I presented a simple model of this business.
Obviously, museums don’t buy all art, but their exhibition and buying policy creates an beacon of what is called museum-level art, and wealthy individuals want this type of art as it increase their own social status.
These wealthy individuals often end up creating their own private museums. But these small private museums are not as important as largest museums in determining an artsit’s historical significance. Anyway, these small museums tries to get the best possible art (available in their budgets), and their buying is significant source of an art dealer’s income.
Despite the fact that everybody tries to manipulate this market (by promoting their artists), the directions and success of such manipulations may be predicted. The same way this happens in other markets: if I expect that OPEC will cut production, I can earn money on rising oil prices.
Also, an interesting fact was aired on the EA Global London 2018: around 40 per cent of all donations EA got came form a single individual and he is an art dealer. He spoke on the conference and it was said that he earned most of his money selling Picasso’s prints.
From where do you have your information? I’m no expert myself but is was my understanding that museums buying art isn’t the primary driver of prices.
Wealthy people buy art and wealthy people also lend their artwork to museums to be shown and sometimes even donate pictures.
I earn money buying and selling art for last 20 years, and here I presented a simple model of this business.
Obviously, museums don’t buy all art, but their exhibition and buying policy creates an beacon of what is called museum-level art, and wealthy individuals want this type of art as it increase their own social status.
These wealthy individuals often end up creating their own private museums. But these small private museums are not as important as largest museums in determining an artsit’s historical significance. Anyway, these small museums tries to get the best possible art (available in their budgets), and their buying is significant source of an art dealer’s income.
Despite the fact that everybody tries to manipulate this market (by promoting their artists), the directions and success of such manipulations may be predicted. The same way this happens in other markets: if I expect that OPEC will cut production, I can earn money on rising oil prices.
Also, an interesting fact was aired on the EA Global London 2018: around 40 per cent of all donations EA got came form a single individual and he is an art dealer. He spoke on the conference and it was said that he earned most of his money selling Picasso’s prints.