Helping Artists Succeed In A Connected World

How is the art market in your area?

In a recent issue of The Art Newspaper Michael Plummer and Jeff Rabin wrote an interesting opinion column titled "Could the art market be undergoing a fundamental restructuring?" The piece provides their analysis and opinion on how the condition of the global art market has tracked the overall global economic downturn and what the prospects may be for 2010. 

The article includes some semi-technical economic topics such as art market liquidity, global deleveraging and how financial market conditions have impacted the art market. Still, it's not a difficult read. And, even though the article's focus is on the high-end art market many of the points about collectors and pricing apply at all market levels.

In fact, the article made me ask the questions, "Is there a restructuring of the art market at the local level?" And, "What are the trends in art sales and pricing pressure as evidenced by local artists?"

Let us know your thoughts!

If you have any observations or opinions to share about the art market in your area please add your comment. For example, have collectors in your market been holding back their purchases? If so, are you starting to see a turn-around in collecting or pricing pressure? How are the galleries and art associations in your area holding up? Have they expressed their projections or general outlook for 2010 and beyond? Are you participating in any local art auctions this year? Have you any success stories on tactics or strategies that resulted in reaching new markets and collectors?

We look forward to hearing from you. Just click the comment link to share your thoughts.