The Role of Art Collectors in the Art Market

The Role of Art Collectors in the Art Market
The Role of Art Collectors in the Art Market

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The Role of Art Collectors in the Art Market

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Discuss academically the role of one of the key agents (dealer, curator, critic, collector) and his/her position in the art market.

In this paper discuss the role of Art collectors and their position in the art market taking a Case study approach looking at specific individuals. 

Art collectors the client has chosen for the case study: Frieder Burda and Christian Boros

Points to cover is the art market and what it is etc also touching on primary and secondary markets and then discussing the role of the art collector in the art market. 

Go straight into the case study and not to explore the art market in a generic way, as word count is limited and to focus on discussing the role of the art collector in the art market.

Take a case study approach and to look at Frieder Burda and Christian Boros. Focusing on Germany and how it has one of the liveliest and most electric collector communities in the world. And touching on how Germany in a way more than any other country has a collecting tradition. Private museums seem to be an on going trend to build own museum for your collection. 

Use a wide range of sources not just online. Structure the case study well. The essay must be fully referenced and include a bibliography.

Below is a partial answer to the above homework questions by one of our writers. If you are interested in a custom non plagiarized top quality answer, click order now to place your order.

The Role of Art Collectors in the Art Market

Introduction

According to Alessandra (2016,p. 60), commercialization of art as envisioned in the growth of private museums, auction houses, art fairs and sponsored exhibitions characterizes modern art, where an increasing number of artists are focusing on financial interests rather than the art itself. Horowitz (2014) refers contemporary art as ‘art of the deal’ which basically insinuates that the major objective of the modern artist is to obtain the best deal for their art. In this regard, the demand side of the art market including collectors, museums, investors and intermediaries has gained increased importance for building business and marketing strategies.

Collectors can be said to have shaped the art market to a great extent through influencing the demand side and creating value for artists. What really then is the role of art collectors in influencing the art market given the current state of affairs? Art collectors play a key role in sustaining the art market by promoting the work of artists across the globe. Art collectors, based on their popularity play the role of industry pacemakers, providing an opportunity for artists to thrive and influencing the style of art to a significant extent.

This is more so when their collected work is displayed to the public, thus influencing the interest of art lovers and consequently their future purchases. The role of art collectors has been extensively portrayed in Germany where the number of private galleries and museums has grown tremendously over the years. This paper aims at exploring the role of art collectors and their position in the art market by discussing the role played by two famous art collectors from Germany, Frieder Burda and Christian Boros.

The art market and the role of art collectors

The art market, comprising of the primary and secondary market presents an intricate avenue through which art is valued and where demand and supply factors come into play to set prices for various forms of art. Accordingly, different players including the artists, buyers and agents play unique roles in influencing the art market (Marshall & Forrest, 2011). Art collectors thrive in both primary and secondary markets and their role in each market is based on their interests.

This means that they influence what is sold in both the primary and secondary market, thus influencing the supply side of the market. Zorloni &Ardizzone (2017) note that in an attempt to meet the demands and interests of art collectors, artists tend to lean towards their preference. This has mostly been witnessed with increased globalization and commercialization of the art industry, where it is more about sales. In this relation, the choice of art collectors drives the direction of the industry, such that artists are likely to make productions designed to catch the attention of art collectors.

The preferences of art collectors may influence artists towards a certain genre in a bid to create market and gain recognition. Artists for example are likely to move towards a certain genre of art due to the influence of a famous art collector. A notable aspect of art collectors influence on demand and supply in the art market is their changing preferences, which to a great extent defines the future direction of the market. According to Jahrgang, H. (2011), modern art collectors’ palaces can be likened to a “kaleidoscope with astonishingly small pebbles that keep being reshuffled.” As collector interests keep changing, so do artists have to adjust. 

Art collectors have historically played a significant role in promoting art not only through enhancing interest in art but also supporting artists’ work. The first and most significant role an art collector has is that of providing income to drive the art market. Art collectors purchase numerous works of art for their collections and this provides revenue for the art market to thrive. Art collectors are mostly financially endowed individuals who are capable of purchasing numerous works of art based on their interest, thus creating a market for artists. Furthermore, art collectors have been known to promote unknown or new artists by purchasing their art works.

Art collectors play the role of marketing artists through by publicizing their works, consequently making them earn more from their works of art. This is more so where the art collector also has an exhibition for their collection, thus creating a platform for marketing featured artists. According to Hernando & Campo (2017b), collectors have the potential of increasing an artist’s economic worth just by considering or purchasing a piece of work. When famous art collectors purchase a work of art, they elicit interest in the art as well as the artist and this enhances their value and potential to perform better in the art market (Hernando & Campo, 2017a).

The acute love and passion for art by art collectors is of great significance in promoting the art industry. Art collectors are known to influence peoples’ interest in art and thus play a key role in maintaining the industry. According to Kossenjans & Buttle (2016), collectors may be influenced by various motivations including possessive and materialistic pursuits, attraction, or passion that often border obsession.

However, their collections are bound to impact those who interact with them, such that collectors play a role in influencing art demand. Individuals visiting art exhibitions may not necessarily be art lovers or enthusiasts of particular art genre. However, their interest may be influenced by the collection of art seen from an art collector, further driving the art industry.

Frieder Burda and Christian Boros

Studies in the evolution of art collection reveal that the modern art collector not only commands respect as an influential player in the art market but also a trend setter, whose interests are likely to shape the supply side as artists seek to gain relevance (Pierson, 2017). Among famous art collectors who are currently driving the art market are Frieder Burda and Christian Boros, both Germans who have created a lasting niche for themselves in the art collection business.

Each of these art collectors, who are also among the top ten German art collectors, have invested heavily in collecting unique pieces of art, which are housed and exhibited in their private museums. Born in April 1936, Frieder Burda, took after his father who collected art before him.  Burda’s first work first work was Lucio Fontana’s slashed red painting bought in 1968 at Kassel’s Documenta 4. Since then, he has accumulated a significant number of collections with advice from art-historian friends. His Museum which was opened in 2004 boasts of about 1000 works, where a major focus is given to German painting, drawings and sculptures (Global Art Magazine, 2017).

The famous Christian Boros was born in Poland in 1964 before later moving to Germany with his parents in an attempt to flee from communism. Boros is a self-made entrepreneur whose passion for advertising was driven by art, leading to the development of a massive company that specializes in image management. His interest in art is however cannot go unnoticed, given his wide collection of art which he began collecting at 18 years.

Boros specializes in contemporary art and has collected over 700 works that are currently displayed at Sammlung Boros, developed from a former raid bunker from the Nazi era. The gallery which was opened in 2008 attracts both art lovers and history lovers who want to learn more about the Nazi past. Boros regularly updates his collection with new works of art and is considered a major figure in the Berlin art scene…..

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The Effect of Online Sales on the Art Market Research Journal

Research Journal
Research Journal

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Research Journal

Order Instructions:

The Research JOURNAL (not paper) documents the stages of the intellectual journey that got you through the dissertation. It’s a ‘scrap book’ of things you’ve seen, read, and thought about. It is NOT a bunch of printed out stuff you’ve collated from the Internet, or from articles and books. It documents AND comments on your research. And explaining why which sources where useful etc.

You can present the process of your research as a digital format such as on Workflow 
basically 1)go through the dissertation 2)main ideas 3)main developments 4)how these came about 5)sources used and comments and how these contributed to any ideas and thoughts

The Research Journal documents the stages of the intellectual journey that got you through the dissertation. It’s a ‘scrap book’ of things you’ve seen, read, and thought about. It is NOT a bunch of printed out stuff you’ve collated from the Internet, or from articles and books. It documents AND comments on your research. And explaining why which sources where useful etc.

You can present the process of your research as a digital format such as on Workflow 
basically1)go through the dissertation 2)main ideas3)main developments4)how these came about5)sources used and comments and how these contributed to any ideas and thoughts

Below is a partial answer to the above homework questions by one of our writers. If you are interested in a custom non plagiarized top quality answer, click order now to place your order.

The Effect of Online Sales on the Art Market Research Journal

A Background

The online art market has evolved tremendously in the last decades, leading to a transformation not only witnessed in how art is developed but also how it is sold and distributed. A study of these changes and particularly the role of the internet in the changing façade of art inspired great interest in me as I sought to understand the changes in both the primary and secondary art markets. It is interesting to note how online sales have opened up new doors for artists and art buyers and collectors through enabling a reach that permeates global borders.

Artists no longer have to rely on physical locations to sell their art and buyers are not restricted to buying art in their home countries only thanks to online sales. Notably, the value of global online art sales increased by 24% between 2014 and 2015, and that by the year 2020, it is expected to hit US$9.58 billion (Hiscox, 2017). In recognition of this momentous growth in art, a further inquiry into how online sales have affected different markets including primary art galleries, auction houses and art fairs was considered ideal for this research.

The aim was to understand how different art markets are responding to the changes emanating from increased online art sales and what it means for the future of art. This journal details my intellectual journey in writing my research, providing my experiences in the development of ideas, how these came about and how the various sources consulted contributed to creation of the research.

The research process

            Developing this dissertation required that I plan effectively in order to ensure that the objectives of the research were accomplished. A summary of the various steps undertaken during the research are illustrated as follows.

Research Focus and Topic

            Art in general has undergone significant progress, both in terms of art development and art market transformation. On the other hand, the internet has become an important aspect in today’s world as individuals increasingly gain access to the online technology. E-commerce as it is commonly known is the epitome of internet connectivity, enabling individuals from across the globe access products from all corners of the world through online selling.

Art has not been excluded from this advancement and online sales are continually dominating the art market. e-commerce and its impact on sales was the backbone of this research in a bid to establish how the art market was responding to this development. To suit my research, I opted to study the “The Affect of Online Sales on the Art Market.” This topic would allow me to explore how the art market has changed in the advent of online selling. To further enrich my research, I wanted to explore different art markets and how they have been affected by online sales.

These markets included primary art galleries, auction houses and art fairs, all of which have experienced significant transformation as a result of online sales. By studying each of the listed markets, I would be in a better position to understand how different players in the art market are adjusting to the new model of selling online. At the same time, I felt that studying the various markets would not yield the intended results unless I incorporated case studies to accompany the literature. This would give a better understanding of the how the art market has been affected by online selling by providing real-life examples of the various markets.

Main Ideas

            One of the main ideas in my research was the role played by the internet in interconnecting people and hence the resulting convenience in trade. Since the advent of the internet, many possibilities among them online selling have emerged and these have transformed the world to a significant extent. This idea was at the core of the research because it sought to determine how online sales have influenced the art market. By understanding that internet connectivity is responsible for creating the online market, it was possible to deduce why the online market is so large and why it provides limitless opportunities for artists.

            The second idea has to do with how players in the art market have positioned themselves to deal with growth in the context of online sales. As physical art sale locations continue to lose market due to the rise of online sales, it is only natural for entrepreneuring entities to refocus their strategy to the direction of online sales in order to capture the growing market. The research brings out this factor through the assessment of online art galleries and how they have managed to capture the online market as the physical galleries record deteriorating sales.

Based on this idea, the study examines the emergence of innovative online techniques to capture the market including the development of apps and websites features that enable buyers to evaluate and purchase art online. In this quest, the research examines popular apps including Magnus and websites such as Artsy, Artnet and Artspace. These not only demonstrate how art is being sold online but also the extent to which artists can reach a large market through such platforms compared to traditional art markets…..

Research Journal

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