Art Market Research: A Guide to Methods and Sources by Tom McNulty

By Tom McNulty

This e-book is for paintings marketplace researchers in any respect degrees. a short assessment of the worldwide artwork industry and its significant stakeholders precedes an research of a few of the revenues venues (auction, advertisement gallery, etc.). Library examine abilities are reviewed, and complex equipment are explored in a bankruptcy dedicated to uncomplicated industry learn. as the financial price of art can't be verified irrespective of the cultured traits and artwork ancient value of our topic works, significant chapters aspect the techniques all for discovering and documenting the wonderful and ornamental arts, respectively, and supply annotated bibliographies. equipment for assigning values for artwork gadgets are explored, and resources of fee information, either in print and on-line, are pointed out and defined intimately. lately, paintings old scholarship more and more has addressed matters with regards to the historical past of artwork and its markets: a bankruptcy on assets for the historian of the paintings marketplace bargains a variety of assets. eventually, provenance and paintings legislations are mentioned, with specific connection with their relevance to buyers, creditors, artists and different artwork marketplace stakeholders.

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Appraisers and Ethics Consider the following scenario: You’ve hired an appraiser to provide a fair market valuation of two paintings. The final report seems quite professional, and you’re actually surprised with the high values assigned to the two works. The same appraiser contacts you, a few weeks later, and offers to buy the paintings. What is wrong with this picture? Surprisingly, there are cases in which appraisers’ clients have agreed to sell works to the appraisers who assigned their values!

As well, most research begins with a question or series of questions, whose answer(s) might be very simple or extremely complex, or somewhere in between. ” Sometimes we expect a single answer to what seems to be a question of fact, and in the “research as fishing expedition” analogy, this would represent a good time to use a hook, rather than a net. Consider again Andy Warhol’s dates of birth and death; we expect to find an answer that is both “correct” and not open to debate or discussion. Other questions that seem to fall into the same category are not, in fact, so straightforward.

30 A RT M ARKET R ESEARCH RARITY In most markets, supply and demand are basic drivers of price levels. This can be illustrated by examples ranging from markets for everything from agricultural commodities to durable manufactured goods. During the years immediately following the 2008 economic downturn, for example, the glut of available housing units that resulted from massive foreclosure had the effect of devaluing housing stock in general. The massive supply created a “buyer’s market,” even though that effect was tempered by the lack of available credit to potential buyers with anything short of a stellar credit rating.

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