By the time you read this book, the art world may have witnessed the sale of its first $500 million painting. Whilst for some people money is anathema to art this is clearly a wealthy international industry, and a market with its own conventions and pressures.

Drawing on the vast experience of Sotheby’s Institute of Art, The Art Business exposes the realities of the commercial trade in fine art and antiques. Attention is devoted to the role of auction houses, commercial galleries and art museums as key institutions, with the text divided into four thematic sections covering:

  • technical and structural elements of the art market
  • cultural policy and management in art business
  • regulatory legal and ethical issues in the art world
  • the views, through interviews, of leading art market experts.

This book provides a thorough examination of contemporary issues in the art business, and the mechanisms and influences which underpin its evolution. It is essential reading for students of art history or international business, or anyone with an interest in pursuing a career in this area.

part 1|70 pages

Technical and structural elements of the art market

chapter 2|26 pages

Price before value

chapter 3|14 pages

Selling used cars, carpets, and art

Aesthetic and financial value in contemporary art

chapter 4|13 pages

Investing in art

Art as an asset class

part 2|42 pages

Cultural policy and management in art business

chapter 6|16 pages

Private patrons in the development of a dynamic contemporary art market

Does France need more private patrons?

chapter 7|24 pages

Marketing in art business

Exchange relationships by commercial galleries and art museums