Sunday, April 27, 2008

No Money in Art?

Art Basel Miami, in December of last year, showed 2,000 artists at 200 galleries. Estimated sales were $300m.
ArtWorld March 2008

Sotheby’s and Christie’s, the two main art auction houses, together sold a record $12.5bn in artworks last year, a rise of more than 40 per cent as the art market showed no sign of slowing.

Christie’s last year sold $6.3bn in artworks, a 36 per cent rise on the previous year. Private sales almost doubled to $542m

Sotheby’s said it lifted sales last year by 51 per cent to $6.2bn
FT January 18 2008

Banks and companies are spending record amounts on the arts, music and theatre as they seek to boost their brand, motivate workers and develop links with the cultural world.

Private sector investment in the cultural sector rose to £600m ($1.19bn) last year, a 10 per cent increase on the previous year, according to figures to be published on Wednesday by Arts and Business, the consultancy.

Simon Fletcher, who helps oversee Clifford Chance’s art and sponsorship strategy, says: “We collect art to make the days go better for people who work in and visit our offices. It raises intellectual curiosity and stimulates. If it does that and helps our business, then that is money well spent.”
FT January 29 2008

Let's get our hands on some of that then, shall we?
Yeah baby! That's the secret plan!
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