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Business of Art

ContentsArticlesOverview 1

Art world 1Art world economics 2Economics of the arts and literature 2

Commercial interests 8

Appraiser 8Art auction 10Art dealer 14Art exhibition 16Commission 23Contemporary art gallery 24Estate sale 27Vanity gallery 28

Museums 29

Art museum 29Collection 33Curator 37Endowment invasion 40

Financial considerations 41

Art finance 41Art valuation 43Blockage discount 53

Cooperative arrangements and non-profits 54

Artist cooperative 54Artist-run space 55Not-for-profit arts organization 57

Cultural contamination 59

Rothko Case 59

ReferencesArticle Sources and Contributors 63Image Sources, Licenses and Contributors 65

Article LicensesLicense 66

1

Overview

Art worldThe art world is composed of all the people involved in the production, commission, preservation, promotion,criticism, and sale of art. Howard S. Becker describes it as "the network of people whose cooperative activity,organized via their joint knowledge of conventional means of doing things, produce(s) the kind of art works that artworld is noted for" (Becker, 1982). Sarah Thornton describes it as "a loose network of overlapping subcultures heldtogether by a belief in art. They span the globe but cluster in art capitals like New York, London, Los Angeles, andBerlin."[1]

The notion of the singular art world is problematic, since Becker [2] and others have shown, art worlds aremultiplicities, they are globally scattered, constantly in flux, and typically operating independently of each other:there really is no center to the art world any more. In her analysis of the "Net Art World" (referring to network-aidedart or net art Amy Alexander states "net.art had a movement, at the very least it had coherence, and although it aimedto subvert the art world, eventually its own sort of art world formed around it. It developed a culture, hype andmystique through lists and texts; it had a center, insiders, outsiders, even nodes. This is of course not a failure; this isunavoidable: groups form; even anarchism is an institution." [3] Art worlds can exist at the local and regional levels,as hidden or obscured subcultures, via primary and secondary art markets, through gallery circuits, around designmovements, and more esoterically as shared or perceived experiences.The one globalized, all-encompassing art world does exist---but it does so as a myth; more accurately, there aremultiplicities of intersecting, overlapping, self-similar art worlds, each expressing different views of the world asthey see it.New York Magazine art critic Jerry Saltz has referred to William Powhida's and Jade Townsend's drawing "ArtBasel Miami Beach Hooverville" as "a great big art-world stinkbomb."[4]

MusicSimon Frith describes three art worlds present in the music industry: the art music world, folk music world, andcommercial music world.[5] Timothy Taylor (2004) associates these worlds with three popular music genres: rock,rap, and pop, respectively. [6]

References[1] Thornton 2008[2] Becker, Howard S. Art Worlds. Berkley: University of California Press, 1982. ISBN 0-520-05218-8. Cited in Sanjeck (1999).[3] Alexander, Amy. net art history (2001) Nettime.org (http:/ / www. nettime. org/ Lists-Archives/ nettime-l-0102/ msg00223. html)[4] Saltz, Jerry. "William Powhida Is Making Fun of Me, And I Love It" (http:/ / nymag. com/ daily/ entertainment/ 2010/ 03/

saltz_william_powhida_is_makin. html). New York Magazine. March 9, 2010.[5] Frith, Simon. Performing Rites: On the Value of Popular Music. Cambridge, MA: Harvard University Press, 1996. ISBN 0-674-66195-8.

Cited in Taylor (2004)[6] Taylor, Timothy D. Bad World Music in Washburne, Christopher J. and Derno, Maiken (eds.) (2004). Bad Music: The Music We Love to

Hate. New York: Routledge. ISBN 0415943663)

Art world 2

Sources• Sanjeck, David. "Institutions." Key Terms in Popular Music and Culture. Malden, MA: Blackwell Publishers,

1999. ISBN 0-631-21263-9• Thornton, Sarah. Seven Days in the Art World New York: WW Norton, 2008.

Art world economicsArt world economics is a relatively unexplored area of financial exchange that exists at the edges of the regularfinancial industry. Investment in art has been an accepted form of deposit investment for several decades such as thepurchase of works by Matisse, Van Gogh and Picasso. However these works only have an assured value as long asthere is a restricted supply of works on the open market - i.e. the artist is dead or producing small numbers of worksand that the authenticity of works can be verified by a small number of sources. In the case of contemporary artists itis the interest of collectors and therefore dealers to ensure a tightly controlled line of supply.The intricacies of art world economics were exposed by the suit of the family of Mark Rothko against theMarlborough Fine Art Gallery brought during the 1970s. In an action known as the Rothko Case, it was determinedthat Marlborough had knowingly manipulated their management of Rothko's works to maintain a higher sale priceafter his death, to the detriment of Rothko's family's interest in his estate.

Economics of the arts and literatureEconomics of the arts and literature or cultural economics (used below for convenience) is a branch ofeconomics that studies the economics of creation, distribution, and the consumption of works of art and literature.For a long time the arts were confined to visual and performing arts in the Anglo-Saxon tradition. Usage haswidened since the beginning of the 1980s with the study of cultural industry (cinema and music publishing), and theeconomy of cultural institutions (museums, libraries, historic buildings). The field is coded as JEL: Z11 in theJournal of Economic Literature classification system used for article searches.[1]

IntroductionCultural economics is concerned with arts in a broad sense. The goods considered have creative content, but that isnot enough to qualify as a cultural good. Designer goods are not considered to be works of art or culture. Culturalgoods are those with a value determined by symbolic content rather than physical characteristics. (For furtherconsiderations, see also Cultural Institutions Studies).Economic thinking has been applied in ever more areas in the last decennia, including pollution, corruption andeducation. Works of art and culture have a specific quality, which is their uniqueness. There just aren't twoNighthawkses.As there is no equivalent item for each, classical economist Adam Smith held it was impossible to value them.Alfred Marshall noted that the demand for a certain kind of cultural good can depend on its consumption: The moreyou have listened to a particular kind of music, the more you appreciate. In his economic framework, these goods donot have the usual decreasing marginal utility. Key works in the cultural economics as such were those of Baumoland Bowen (Performing Arts, The Economic Dilemma, 1966), of Gary Becker on addictive goods, and of AlanPeacock (Public Choice).This summary has been divided into sections on the economic study of the performing arts, on the market ofindividual pieces of art, the art market in cultural industries, the economics of cultural heritage and the labour marketin the art sector.

Economics of the arts and literature 3

Performing arts: Baumol and cultural economicsThe seminal paper by William Baumol and Bowen introduced the term cost disease for a relative cost growth of liveperformances. This cost growth explains the increasing dependency of this kind of art on state subsidies. It occurswhen the consumable good is labour itself. To understand this phenomenon, compare the change in the cost ofperforming the Molière play "Tartuffe" in 1664 and in 2007 with the change in cost of calculating a large number ofsums from an accounting ledger. In 1664, you needed two hours and twelve actors to perform Molière's play, and itwould take, say, twelve accountants working for two hours to add up all the sums in an accounting ledger. In 2007, asingle accountant with a $10 calculator can add the sums in 20 minutes, but you still need two hours and twelveactors for the Molière play.Now, the artist trade needs a considerable investment in human capital, and needs to be paid accordingly. The artists'pay need to rise along with that of the population in general. As the latter is following the general productivity in theeconomy, the cost of a play will rise with general productivity, while the actors' productivity does not rise.There are two lines of thought in subsequent literature on the economics of the performing arts:• The first concentrates on the existence of productivity growth in some areas of production, thus contradicting the

relevance of cost disease. Staying with the "Tartuffe" example, the same performance can be viewed by an everlarger audience by improvements in the design of theatres, and by the introduction of microphones, television andrecording.

• The second is concerned with the allocation of subsidies to the cultural sector. While these should be in thegeneral public interest, they may have an income distribution effect, e.g. if they reduce cost to the relativelywell-off part of society. This is the case when the well-off are overrepresented in the audiences of subsidizedplays, or when subsidies go to a small elitist group of artists.

The market for artworksTwo segments of the market in the visual arts can be distinguished: works of art that hare familiar and have a history,and contemporary works that are more easily influenced by fashion and new discoveries. Both markets, however, areoligopolistic, i.e., there are limited numbers of sellers and buyers (oligopsony). Two central questions on the workingof the markets are: How are prices determined, and what is the return on artworks, compared to the return onfinancial assets ?

Price determinationComponents of a work of art, like stone or paint, in general have a value much lower than the finished product. Also,the amount of labour needed to produce an item does not explain the big price differences between works of art. Itseems that the value is much more dependent on potential buyers', and experts' perception of it. This perception hasthree elements: First, social value, which is the social status the buyer has by owning it. The artist thus has an"artistic capital". Second, the artistic value, compared to contemporary works, or as importance to later generations.Third, the price history of the item, if a buyer uses this for his expectation of a future price at which he might sell theitem again (given the oligopolistic market structure). Three kinds of economic agents determine these values.Specific experts like gallery owners or museum directors, the first. Experts like art historians, the second. Buyerswho buy works of art as an investment, the third.

Economics of the arts and literature 4

Art market and investmentSome major financial institutions, banks and insurance companies, have had considerable return rates on investmentsin art works in the 1990s. These rates haven't slowed down at the same time as the rates on stock exchanges, in theearly 90's. This may indicate a diversification opportunity. Apart from this evidence of successful investment, theamount of data available has stimulated study of the market. Many works are sold on auctions. These transactionsare thus very transparent. This has made it possible to establish price databases, with prices of some items goingback to 1652.Empirical studies have shown that, on average, the return on works of art has been lower than that on equity, with avolatility that is at least as high. An intangible gain in terms of pleasure of having a work of art could explain thispartly. However, before interpreting the figures, it should be born in mind that art is often exempt of many kinds oftaxes.In 1986, Baumol made an estimate of an average yearly rate of return of 0.55 percent for works of art, against a rateof return of 2.5 percent for financial assets, over a 20-year period.

Cultural industriesSome artwork is not reproducible, but there are many cultural goods whose value does not depend on the individualcopy. Books, recordings, movies get some of their value from the existence of many copies of the original. These arethe products of cultural industries. These markets are characterized by:• Uncertainty on value. The demand for a good (success) is hard to predict. This is a characteristic of an experience

good.• Infinite variety. You can differentiate between products, e.g. a car, on basis of its characteristics. Many products

allow classification on a relatively small number of such characteristics. Cultural goods, however, have a veryhigh number of them, which, on top of that, often are subjective. This makes them hard to compare.

• High concentration in traded products. A major part of sales is in best-sellers or block-busters.• Short life cycle. Most items are sold shortly after introduction.• High fixed cost. There is high cost before introduction. Making a movie is much more expensive than producing

another copy.

Market structureThe important cultural industries have an oligopolistic market structure. The market is dominated by a few majorcompanies, the rest of the market consisting of a big number of small companies. The latter may act as a filter for theartistic supply: A small company with a successful artist can be bought by one of the majors. Big conglomerates,pooling TV and film production, have existed since the 1920s. The 1990s have seen some mergers extending beyondthe industry as such, and mergers of hardware producers with content providers. Anticipated gains from synergy andmarket power have not been realised, and from the early 2000s there has been a trend towards organisation alongsector lines.

Economics of the arts and literature 5

Economics of cultural heritageCultural heritage is reflected in goods and real estate. Management and regulation of museums has come under studyin this area.

MuseumsMuseums, which have a conservatory role, and provide exhibitions to the general public, can be commercial, or on anon-profit base. In the second case, as they provide a public good, they pose the problems related to these goods:should they be self-financing, or be subsidized ? One of the specific issues is the imbalance between the huge valueof the collections in museums, and their budgets. Also, they are often located in places (city centres) where the costof land is high, which limits their expansion possibilities. American museums exhibit only about half of theircollection. Some museums in Europe, like the Pompidou Centre in France, show less than 5 percent of theircollection. Apart from providing exhibitions, museums get proceeds from derived products, like catalogues andreproductions. They also produce at a more intangible level: They make collections. Out of so many pieces in thepublic domain, they make a selection based on their expertise, thus adding value to the mere existence of the items.The dual goal of conservation and providing exhibitions obviously presents a choice. On the one hand the museumhas, for conservation reasons, an interest in exhibiting as few items as possible, and it would select lesser knownworks and a specialized audience, to promote knowledge and research. On the other hand, the exhibition argumentrequires showing the major pieces from different cultures, to satisfy the demands from the public and to attract alarge audience. When a government has made a choice about this, application of economic contract theory will helpto implement this choice by showing how to use incentives to different managers (on the financial, conservatoryside) to obtain the required result.

Real estateMany countries have systems that protect buildings and structures they consider to be of cultural interest. Owners gettax deductions or subsidies for restoration, in return for which they accept restrictions on modifications to thebuildings or provide public access. Such a system poses the same choice problems as museums do. There has beenlittle study of this issue.

The artists' labour marketThe labour market for artists is characterized by four things in particular:• There is an extremely unequal income distribution within the market segment. A very small group of people earn

a high proportion of the total income.• There is a structural excess supply of labour. There are always more people who like to earn their income as an

artist than there is demand for them.• There are intangible returns to labour, so that people accept lower wages than their qualifications would earn in a

different market.• Non-separation of artist and work. The image their product gives them, is important to artists.

The star systemThe term "star system", coined by S. Rosen, is used for the phenomenon that a handful of the artists in the market, earn a major part of total earnings in a sector. Rosen's 1981 paper examined the economics of superstars to determine why “relatively small numbers of people earn enormous amounts of money and seem to dominate the fields in which they engage.” Rosen argues that in superstar markets, "small differences in talent at the top of the distribution will translate into large differences in revenue." Rosen points out that "...sellers of higher talent charge only slightly higher prices than those of lower talent, but sell much larger quantities; their greater earnings come overwhelmingly

Economics of the arts and literature 6

from selling larger quantities than from charging higher prices"In cultural industries, the uncertainty about the quality of a product plays a role in this. The consumer does not reallyknow how good the product is, until he has consumed it (think of a movie), and the producer is confronted with thetypical uncertainty in a cultural industry. The consumer looks for guidance in the price, reputation, or a famous nameon the cover or poster. As the producer understands this affects demand, he is prepared to pay a lot for a nameconsidered a sign of quality (a star). Indeed, authors like Adler and Ginsburgh have given evidence that star status isdetermined by chance: in a musical contest, results were highly correlated with the order of performance.cThis randomness has been used to explain why the labor supply in the sector remains excessive: given extreme gainsof a star, and an irrational behaviour, or particular preferences, with respect to chance, unsuccessful artists keeptrying, even when they are earning their money mostly in a different trade. A second argument is the possibility ofintangible returns to artists' labour in terms of social status.

Production structureA case has been made for the existence of a different structure in the production of cultural goods . (See CulturalInstitutions Studies.) An artist often considers a product to be an expression of himself, while the ordinary craftsmanis only concerned with his product, as far as it has an impact on his pay or salary. The artist may thus want restrictthe use of his product.

Notes[1] In the JEL system, 'Cultural Economics' is a broader category than used in this article.

References• Baumol, William J. and William G. Bowen (1966). Performing Arts, The Economic Dilemma.• (French) Benhamou, Françoise (2002). L'Économie du Star System, Odile Jacob, Paris (France). ISBN

2-7381-1149-• Mark Blaug, 2001. "Where Are We Now On Cultural Economics," Journal of Economic Surveys, 15(2),

pp. 123–14. Abstract. (http:/ / www3. interscience. wiley. com/ journal/ 118980731/ abstract)• Caves, Richard E. (2000). Creative Industries, Harvard University Press. ISBN 0-6740-0808-1 Description (http:/

/ www. hup. harvard. edu/ catalog. php?recid=27264) and preview. (http:/ / books. google. com/books?id=imfTUHj8uVcC& printsec=find& pg=PR5=gbs_atb#v=onepage& q& f=false)

• Frey, Bruno S. (2003). Arts & Economics: Analysis & Cultural Policy, Springer. Description (http:/ / www.springer. com/ economics/ book/ 978-3-540-00273-4?cm_mmc=Google-_-Book Search-_-Springer-_-0) andchapter-preview links. (http:/ / books. google. com/ books?id=uBqWPdlncVsC& printsec=find&pg=PR9=onepage& q& f=false#v=onepage& q& f=false)

• Ginsburg, V.A. (2001). "Art and Culture, Economics of," International Encyclopedia of the Social & BehavioralSciences, pp. 758–764, Abstract. (http:/ / www. sciencedirect. com/ science?_ob=ArticleURL&_udi=B7MRM-4MT09VJ-41T& _rdoc=1& _hierId=151000138& _refWorkId=21&_explode=151000131,151000138& _fmt=summary& _orig=na& _docanchor=& _idxType=SC& view=c&_ct=12& _acct=C000050221& _version=1& _urlVersion=0& _userid=10&md5=eb0e1df1194861738fe43e09b3df61a3)

• Ginsburgh, Victor A., & David Throsby (2006). Handbook of the Economics of Art and Culture, Description(http:/ / www. elsevier. com/ wps/ find/ bookdescription. cws_home/ 622130/ description#description) andchapter-abstract links. (http:/ / www. sciencedirect. com/ science?_ob=PublicationURL&_tockey=#TOC#24602#2006#999989999#632095#FLA#& _cdi=24602& _pubType=HS& _auth=y&_acct=C000050221& _version=1& _urlVersion=0& _userid=10& md5=3fca64545171fc73f6032abc02c92ac2)ISBN 978-0444508706

Economics of the arts and literature 7

• Peacock, Alan T., Ilde Rizzo, and Giorgio Brosio, 1994. Cultural Economics and Cultural Policies, Springer,ISBN 079232868X, ISBN 9780792328681. Description (http:/ / books. google. com/ books?id=btk0riITTgQC&dq="Cultural+ economics"& source=gbs_summary_s& cad=0) and scroll to chapter-preview links. (http:/ / books.google. com/ books?id=btk0riITTgQC& printsec=find& pg=PR5=onepage& q& f=false#v=onepage& q&f=false)

• Scherer, Frederic M. (2008). "music markets, economics of," The New Palgrave Dictionary of Economics, 2ndEdition. Abstract. (http:/ / www. dictionaryofeconomics. com/ article?id=pde2008_E000216& q="culturaleconomics"& topicid=& result_number=4)

• Snowball, Jeanette D. (2008). Measuring the Value of Culture. Description (http:/ / www. springer. com/economics/ microeconomics/ book/ 978-3-540-74355-2) and Arrow-page searchable chapter links. (http:/ / books.google. com/ books?id=IJjLOjHmz6AC& printsec=toc& dq="Cultural+ economics"& source=gbs_summary_s&cad=0)

• Throsby, David (2001), Economics and Culture, Cambridge University Press, Cambridge (UK). ISBN0-5215-8406-X

• ____ (2008). "art, economics of," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract. (http:/ /www. dictionaryofeconomics. com/ article?id=pde2008_E000224& q=arts& topicid=& result_number=3)

• Towse, Ruth ed. (2003). A Handbook of Cultural Economics, Edward Elgar. 494 pp. Contents. (http:/ / books.google. com/ books?id=OL484NVVBiAC& lr=& source=gbs_summary_s& cad=0) ISBN 1840643382, ISBN9781840643381

• van der Ploeg, Frederick, Marcel Canoy, and Jan van Ours (2008). "books, economics of," The New PalgraveDictionary of Economics, 2nd Edition. Abstract. (http:/ / www. dictionaryofeconomics. com/article?id=pde2008_E000218& q="cultural economics"& topicid=& result_number=3)

• Walls, W. David (2008). "motion pictures, economics of," The New Palgrave Dictionary of Economics, 2ndEdition. Abstract. (http:/ / www. dictionaryofeconomics. com/ article?id=pde2008_E000223& q="culturaleconomics"& topicid=& result_number=2)

Journals• Journal of Cultural Economics (http:/ / www. springer. com/ economics/ microeconomics/ journal/ 10824) and

first-page article links (http:/ / www. springerlink. com/ content/ 100284/ ) from 1977 on.

8

Commercial interests

AppraiserAn appraiser (from Latin appretiare, to value), is one who sets a value upon property, real or personal. In Englandthe business of an appraiser is usually combined with that of an auctioneer, while the word itself has a similarmeaning to that of "valuer." (See Auction, Valuation (finance).)In the United States, the most common usage relates to real estate appraisals, while the term is often used to describea person specially appointed by a judicial or quasi-judicial authority to put a valuation on property, e.g. on the itemsof an inventory of the estate (law) of a deceased person or on land taken for public purposes by the right of eminentdomain. Appraisers of imported goods and boards of general appraisers have extensive functions in administeringthe customs laws of the United States. Merchant appraisers are sometimes appointed temporarily under the revenuelaws to value where there is no resident appraiser without holding the office of appraiser (U.S. Rev. Stats. § 2609).

References• This article incorporates text from a publication now in the public domain: Chisholm, Hugh, ed (1911).

Encyclopædia Britannica (11th ed.). Cambridge University Press.REAL ESTATE APPRAISERNature of the Work (U.S. Department of Labor Bureau of Labor Statistics) Appraisers and assessors of real estateestimate the value of real property for a variety of purposes, such as to assess property tax, to determine a sales price,or to determine the amount of a mortgage that might be granted on a property. They may be called on to determinethe value of any type of real estate, ranging from farmland to a major shopping center, although they often specializein appraising or assessing only a certain type of real estate such as residential buildings or commercial properties.Assessors determine the value of all properties in a locality for property tax purposes whereas appraisers appraiseproperties one at a time for a variety of purposes, such as to determine what a good sale price would be for a home orto settle an estate or aid in a divorce settlement.Valuations of all types of real property are conducted using similar methods, regardless of the type of property orwho employs the appraiser or assessor. Appraisers and assessors work in localities they are familiar with so theyhave a knowledge of any environmental or other concerns that may affect the value of a property. They note anyunique characteristics of the property and of the surrounding area, such as a specific architectural style of a buildingor a major highway located next to the parcel. They also take into account additional aspects of a property like thecondition of the foundation and roof of a building or any renovations that may have been done. Additionally, theymay take pictures to document a certain room or feature, in addition to taking pictures of the exterior of the building.After visiting the property, the appraiser or assessor will determine the fair value of the property by taking intoconsideration such things as comparable home sales, lease records, location, previous appraisals, and incomepotential. They will then put all of their research and observations together in a detailed report, stating not only thevalue of the parcel but the precise reasoning and methodology of how they arrived at the estimate.Appraisers have independent clients and focus solely on valuing one property at a time. They primarily work on aclient-to-client basis, and make appraisals for a variety of reasons. Real property appraisers often specialize by thetype of real estate they appraise, such as residential properties, golf courses, or strip malls. In general, commercialappraisers have the ability to appraise any real property but may generally only appraise property used forcommercial purposes, such as stores or hotels. Residential appraisers focus on appraising homes or other residencesand only value those that house 1 to 4 families. Other appraisers have a general practice and value any type of real

Appraiser 9

property.Assessors predominately work for local governments and are responsible for valuing properties so a tax formula canbe used to assess property taxes. Unlike appraisers, assessors value entire neighborhoods using mass appraisaltechniques to value all the homes in a local neighborhood at one time. Although they do not usually focus on a singleproperty they may assess a single property if the property owner challenges the assessment. They may use acomputer- programmed automated valuation model specifically developed for their assigned jurisdictions. In mostjurisdictions the entire community must be revalued annually or every few years. Depending on the size of thejurisdiction and the number of staff in an assessor’s office, an appraisal firm, often called a revaluation firm, may domuch of the work of valuing the properties in the jurisdiction. These results are then officially certified by theassessor.When properties are reassessed, assessors issue notices of assessments and taxes that each property owner must pay.Assessors must be current on tax assessment procedures and must be able to defend their property assessments,either to the owner directly or at a public hearing, as accurate, since assessors are also responsible for dealing withtax payers who want to contest their assigned property taxes. Assessors also keep a database of every parcel in theirjurisdiction labeling the property owner, issued tax assessment, and size of the property, as well as property maps ofthe jurisdiction that detail the property distribution of the jurisdiction.Appraisers and assessors write a detailed report of each appraisal. Writing these reports has become faster and easierthrough the use of laptop computers, allowing them to access data and write at least some of the report on-site.Another computer technology which has impacted this occupation are electronic maps, made by assessor’s offices, ofa given jurisdiction and its respective property distribution. Appraisers and assessors use these maps to obtain anaccurate perspective on the property and buildings surrounding a property. Digital cameras are also commonly usedto document the physical appearance of a building or land at the time of appraisal, and the pictures are also used inthe documentation of the report.

Art auction 10

Art auction

Sotheby's New York City headquarters on YorkAvenue

Christie's New York City headquarters inRockefeller Center

An art auction is the sale of art works, in most cases in an auctionhouse.

In England this dates from the latter part of the 17th century, when inmost cases the names of the auctioneers were suppressed. Evelyn(under date June 21, 1693) mentions a "great auction of pictures (LordMelford's) in the Banqueting House, Whitehall", and the practice isfrequently referred to by other contemporary and later writers.

Normally, an auction catalog, that lists the art works to be sold, iswritten and made available well before the auction date.

Some of the best known auction houses are Christie's and Sotheby's.

History

Early days

Before the introduction of regular auctions the practice was, as in thecase of the famous collection formed by Charles I., to price each objectand invite purchasers, just as in other departments of commerce. Butthis was a slow process, especially in the case of pictures, and lackedthe incentive of excitement. The first really important art collection tocome under the hammer was that of Edward, Earl of Oxford, dispersedby Cock, under the Piazza, Covent Garden, on 8 March 1741/2 and thefive following days, six more days being required by the coins. Nearly all the leading men of the day, includingHorace Walpole, attended or were represented at this sale, and the prices varied from five shillings for an anonymousbishop's "head" to 165 guineas for Vandyck's group of "Sir Kenelm Digby, lady, and son".

The next great dispersal was Dr Richard Mead's extensive collection, of which the pictures, coins and engravedgems, &c., were sold by Abraham Langford in February and March 1754, the sale realizing the total, unprecedentedup to that time, of £16,069. The thirty-eight days' sale (1786) of the Duchess of Portland's collection is verynoteworthy, from the fact that it included the celebrated Portland vase, now in the British Museum. Many otherinteresting and important 18th centurysales might be mentioned. High prices did not become general until theCalonne, Trumbull (both 1795) and Bryan (1798) sales.As to the quality of the pictures which had been sold by auction up to the latter part of the 18th century, it may be assumed that this was not high. The importation of pictures and other objects of art had assumed extensive proportions by the end of the 18th century, but the genuine examples of the Old Masters probably fell far short of 1%. England was felt to be the only safe asylum for valuable articles, but the home which was intended to be temporary often became permanent. Had it not been for the political convulsions on the continent, England, instead of being one of the richest countries in the world in art treasures, would have been one of the poorest. This fortuitous circumstance had, moreover, another effect, in that it greatly raised the critical knowledge of pictures. Genuine works realized high prices, as, for example, at Sir William Hamilton's sale (1801), when Beckford paid 1300 guineas for the little picture of "A Laughing Boy" by Leonardo da Vinci; and when at the Lafontaine sales (1807 and 1811) two Rembrandts each realized 5000 guineas, "The Woman taken in Adultery," now in the National Gallery, and "The Master Shipbuilder," now at Buckingham Palace. The Beckford sale of 1823 (41 days, £43,869) was the forerunner of the great art dispersal of the 19th century; Horace Walpole's accumulation at Strawberry Hill, 1842 (24

Art auction 11

days, £33,450), and the Stowe collection, 1848 (41 days, £75,562), were also celebrated. They comprised everyphase of art work, and in all the quality was of a very high order. They acted as a most healthy stimulus to artcollecting, a stimulus which was further nourished by the sales of the superb collection of Ralph Bernal in 1855 (32days, £62,690), and of the almost equally fine but not so comprehensive collection of Samuel Rogers, 1856 (18 days,£42,367).Three years later came the dispersal of the 1500 pictures which formed Lord Northwick's gallery at Cheltenham(pictures and works of art, 18 days, £94,722).

Mid-19th centuryTowards the latter part of the first half of the 19th century an entirely new race of collectors gradually came intoexistence; they were for the most part men who had made, or were making, large fortunes in the various industries ofthe midlands and north of England and other centres. They were untrammelled by "collecting" traditions, and theirpatronage was almost exclusively extended to the artists of the day. The dispersals of these collections began in 1863with the Bicknell Gallery, and continued at irregular intervals for many years, e.g. Joseph Gillott (1872), SamMendel (1875), Wynn Ellis and Albert Levy (1876), Albert Grant (1877) and Munro of Novar (1878). These patronspurchased at munificent prices either direct from the easel or from the exhibitions not only pictures in oils but alsowater-colour drawings. As a matter of investment their purchases frequently realized far more than the originaloutlay; sometimes, however, the reverse happened, as, for instance, in the case of Landseer's "Otter Hunt," for whichBaron Grant is said to have paid £10,000 and which realized shortly afterwards only 5650 guineas. One of thefeatures of the sales of the 'seventies was the high appreciation of water-colour drawings. At the Gillott sale (1872)160 examples realized £27,423, Turner's "Bamborough Castle" fetching 3150 gns.; at the Quilter sale (1875) DavidCox's "Hayfield," for which a dealer paid him 50 gns. in 1850, brought 2810 gns. The following are the mostremarkable prices of later years. In 1895 Cox's "Welsh Funeral" (which cost about £20) sold for 2400 gns., andBurne-Jones's "Hesperides" for 2460 gns. In 1908, 13 Turner drawings fetched £12,415 (Acland-Hood sale) and 7brought £11,077 (Holland sale), the "Heidelberg" reaching 4200 gns. For Fred Walker's "Harbour of Refuge" 2580gns. were paid (Tatham sale) and 2700 gns. for his "Marlow Ferry" (Holland). The demand for pictures by modernartists, whose works sold at almost fabulous prices in the 'seventies, has somewhat declined; but during all its furorethere was still a small band of collectors to whom the works of the Old Masters more especially appealed. Thedispersal of such collections as the Bredel (1875), Watts Russell (1875), Foster of Clewer Manor (1876), theHamilton Palace (17 days, £397,562)—[one of] the greatest art sale in the annals of Great Britain—Bale (1882),Leigh Court (1884), and Dudley (1892) resulted, as did the sale of many minor collections each season, in many veryfine works of the Old Masters finding eager purchasers at high prices. A striking example of the high prices givenwas the £24,250 realized by the pair of Vandyck portraits of a Genoese senator and his wife in the Peel sale, 1900.

Late 19th centurySince the last quarter of the 19th century the chief feature in art sales has been the demand for works, particularlyfemale portraits, by Reynolds, his contemporaries and successors. This may be traced to the South KensingtonExhibitions of 1867 and 1868 and the annual winter exhibitions at Burlington House, which revealed an unsuspectedwealth and charm in the works of many English artists who had almost fallen into oblivion.A few of the most remarkable prices for such pictures may be quoted:• Reynolds's "Lady Betty Delmé" (1894), 11,000 gns.;• Romney's "The Ladies Spencer" (1896), 10,500 gns.;• Gainsborough's "Duchess of Devonshire" (1876), 10,100 gns. (for the history of its disappearance see Thomas

Gainsborough), "Maria Walpole," 12,100 gns. (Duke of Cambridge's sale, 1904);• Constable's "Stratford Mill" (1895), 8500 gns.;• Hoppner's "Lady Waldegrave" (1906), 6000 gns.;

Art auction 12

• Thomas Lawrence's "Childhood's Innocence" (1907), 8000 gns.;• Henry Raeburn's "Lady Raeburn" (1905), 8500 gns.Here may also be mentioned the 12,600 gns. paid for Turner's "Mortlake Terrace" in 1908 (Holland sale).The "appreciation" of the modern continental schools, particularly the French, has been marked since 1880; of highprices paid may be mentioned• Corot's "Danse des Amours" (1898), £7200;• Rosa Bonheur's "Denizens of the Highlands" (1888), 5550 gns.;• Jules Breton's "First Communion," £9100 in New York (1886);• Meissonier's "Napoleon I. in the Campaign of Paris," 12¼in. by 9¼in. (1882), 5800 gns.,• "The Sign Painter" (1891), 6450 gns.High prices are also fetched by pictures of Daubigny, Fortuny, Gallait, Gérôme, Troyon and Israëls. The mostmarked feature of late has been the demand for the 18th century painters Watteau, Boucher, Fragonard, Pater andLancret; thus La Ronde Champêtre of the last named brought £11,200 at the Say Sale in 1908, and Fragonard's LeReveil de Vénus £5520 at the Sedelmeyer sale, 1907."Specialism" is the one important development in art collecting which has manifested itself since the middle of the19th century. This accounts for and explains the high average quality of the Wellesley (1866), the Buccleuch (1888)and the Holford (1893) collections of drawings by the Old Masters; for the Sibson Wedgwood (1877), the Duc deForli Dresden (1877), the Shuldham blue and white porcelain (1880), the Benson collection of antique coins (1909),and for the objects of art at the Massey-Mainwaring and Lewis-Hill sales of 1907. Very many other illustrations innearly every department of art collecting might be quoted—the superb series of Marlborough gems (1875 and 1899)might be included in this category but for the fact that it was formed chiefly in the 18th century. Theappreciation—commercially at all events—of mezzotint portraits and of portraits printed in colours, after masters ofthe early English school, was one of the most remarkable features in art sales during the last years of the 19thcentury. The shillings of fifty years before were then represented by pounds. The Fraser collection (December 4 to 6,1900) realized about ten times the original outlay, the mezzotint of the "Sisters Frankland," after Hoppner, by W.Ward, selling for 290 guineas as against 10 guineas paid for it about thirty years previously.The H. A. Blyth sale (March 11 to 13, 1901, 346 lots, £21,717: 10s.) of mezzotint portraits was even moreremarkable, and as a collection it was the choicest sold within recent times, the engravings being mostly in the firststate. The record prices were numerous, and, in many cases, far surpassed the prices which Sir Joshua Reynoldsreceived for the original pictures; e.g. the exceptionally fine example of the first state of the "Duchess of Rutland,"after Reynolds, by V. Green, realized 1000 guineas, whereas the artist received only £150 for the painting itself.Even this unprecedented price for a mezzotint portrait was exceeded on the 30 April 1901, when an example of thefirst published state of "Mrs Carnac," after Reynolds, by J. R. Smith, sold for 1160 guineas. At the Louis Huth sale(1905) 83 lots brought nearly £10,000, Reynolds's "Lady Bampfylde" by T. Watson, first state before letters,unpublished, fetching 1200 guineas. Such prices as these and many others which might be quoted are exceptional,but they were paid for objects of exceptional rarity or quality.It is not necessary to pursue the chronicle of recent sales, which have become a feature of every season. It is worthmentioning, however, that the Holland sale, in June 1908, realized £138,118 (432 lots), a "record" sum for acollection of pictures mainly by modern artists; and that for the Rodolphe Kann collection (Paris) of pictures andobjects of art, including 11 magnificent Rembrandts, Messrs Duveen paid £1,000,000 in 1907. In every directionthere has been a tendency to increase prices for really great artistic pieces, even to a sensational extent. Thecompetition has become acute, largely owing to American and German acquisitiveness.

Art auction 13

Market structureThe USA overtook the EU as the world's largest art market [1] with a global share of 47 per cent by 2001. Rankingsecond, the UK's world market share hovers around 25 per cent. In 2004, the global fine art market turnover wasestimated at almost $3 billion.(pdf) [2]

In Continental Europe, France was the market leader while in Asia, Hong Kong continues its dominance.The works of Pablo Picasso still remains the most coveted lot as of 2004.

BibliographyThe chief compilations dealing with art sales in Great Britain are: G. Redford, Art Sales (1888); and W. Roberts,Memorials of Christie's (1897); whilst other books containing much important matter areW. Buchanan, Memoirs ofPainting; The Year's Art (1880 and each succeeding year); F. S. Robinson, The Connoisseur; and Louis Soullié, LesVentes de tableaux, dessins et objets d'art au XIX'e siècle (chiefly French).

ReferencesH. Rambach, Collectors at auctions, auctions for collectors, "Schweizer Muenzblaetter" Heft 238 (June 2010), pp.35-43. This article incorporates text from a publication now in the public domain: Chisholm, Hugh, ed (1911).Encyclopædia Britannica (11th ed.). Cambridge University Press.

External links• Michel Cruz, Is the current art market boom just the beginning of a whole new era for international trading? [3],

2006.

References[1] http:/ / www. telegraph. co. uk/ news/ main. jhtml?xml=/ news/ 2002/ 03/ 08/ wart08. xml& sSheet=/ portal/ 2002/ 03/ 08/ por_right. html[2] http:/ / press. artprice. com/ pdf/ Trends2004. pdf[3] http:/ / web. archive. org/ web/ 20070927201920/ http:/ / www. rimontgo. es/ en/ information/ news/ art-market. php

Art dealer 14

Art dealerAn art dealer is a person or company that buys and sells works of art. Art dealers' professional associations serve toset high standards for accreditation or membership and to support art exhibitions and shows.

RoleAn art dealer typically seeks out various artists to represent, and builds relationships with collectors and museumswhose interests are likely to match the work of the represented artists. Some dealers are able to anticipate markettrends, while some prominent dealers may be able to influence the taste of the market. Many dealers specialize in aparticular style, period, or region. They often travel internationally, frequenting exhibitions, auctions, and artists’studios looking for good buys, little-known treasures, and exciting new works. When dealers buy works of art, theyresell them either in their galleries or directly to collectors. Those who deal in contemporary art usually exhibitartists’ works in their galleries, and take a percentage of the price the works sell for.

Job requirementsArt dealers often study the history of art before entering on their careers. Related careers that often cross-overinclude curators from museums and art auction firms are industry-related careers. Art critics or art academics alsofind success as art dealers.Dealers have to understand the business side of the art world. They keep up with trends in the market and areknowledgeable about the style of art people want to buy. They figure out how much they should pay for a piece andthen estimate the resale price. They are also often passionate and knowledgeable about art. Those who deal withcontemporary art promote new artists, creating a market for the artists' works and securing financial success forthemselves. The art world is subject to economic booms and bust just like any other market. Art dealers must beeconomically conscious in order to maintain their livelihoods. The mark ups of art work must be carefullymonitored. If prices and profits are too large, then investments may be devalued should an overstock or economicdownturn occur.[1]

To determine an artwork’s value, dealers inspect the objects or paintings closely, and compare the fine details withsimilar pieces. Some dealers with many years of experience learn to identify unsigned works by examining stylisticfeatures such as brush strokes, color, form. They recognize the styles of different periods and individual artists. Oftenart dealers are able to distinguish authentic works from forgeries (although even dealers are sometimes fooled).

Notable art dealers• Larry GagosianHead of the multimillion dollar Gagosian Gallery group.• Arne GlimcherGlimcher is the founder of The Pace Gallery and is widely known as one of the art world's most powerful dealers.The Pace Gallery represents contemporary artists including Chuck Close, Tara Donovan, David Hockney, Maya Linand Kiki Smith. It also represents the estates of several artists, including Pablo Picasso, Agnes Martin, Ad Reinhardt,and Alexander Calder.[2] During his career he has worked closely with important artists including Jean Dubuffet,Robert Rauschenberg, Louise Nevelson, and Lucas Samaras. In 2007, Glimcher received the Distinguished AlumniAward from the Massachusetts College of Art and Design.• Edith HalpertHalpert was born in 1900 in Odessa, arrived in the U.S. as a penniless Russian Jewish immigrant and grew to become a pioneering New York City art dealer, transforming the landscape of Modern art. Over her forty year career

Art dealer 15

from 1926 through the 1960's, Halpert brought recognition and market success to many avant-garde Americanartists. Her establishment The Downtown Gallery, one of the first in Greenwich Village, introduced and showcasedmany modern art luminaries. Halpert died at age 70 a multimillionaire, with Sotheby's crediting her with having putmodernist painting auctions on the map. Its posthumous sale of her collection went for $3.6 million in 1973.• Klaus PerlsPerls was born and raised in Berlin. He studied art history in Munich, but was forced to finish his education in Basel,Switzerland, as the Nazis were no longer allowing degrees for Jews. He ran Perls Galleries for over 60 years. Hisgallery dealt with contemporary American artists, modern works from the School of Paris and Mexican and SouthAmerican art. Perls also developed an interest in art from Benin and built a sizable collection. He was not only an artdealer, but also a donor as he contributed many significant works of art to the Metropolitan Museum of Art. He diedJune 2, 2008 in Mount Kisco, N.Y. at age 96.[3]

• Martha Hopkins StrueverStruever was born in 1931 in Milan, Indiana. She attended the Tobé-Coburn School For Fashion Careers in NewYork City, after obtaining her bachelor's of science degree from Purdue University in Lafayette, Indiana in 1953. Shebegan collecting and dealing in American Indian art in 1971, and is regarded as a leading scholar on historic andcontemporary Pueblo Indian pottery and Pueblo and Navajo Indian jewelry. She has authored books on CharlesLoloma, the foremost American Indian jeweler, and Dextra Quotskuyva, the pre-eminent contemporary Hopi potter,as well as exhibition catalogues on Hopi potter Iris Nampeyo and other Hopi art, and has guest curated museumshows in several cities.[4]

• Jacques SeligmannGerman-born Seligmann (1858–1923) moved to Paris in 1874 where he set up an antiquarian business in 1880.Benefitting from the interest of clients such as Edmond de Rothschild, he moved to the Place Vendôme in 1900 andin 1904 opened an office in New York. In 1909, he acquired the Hôtel de Monaco in Paris where he was able toimpress his more important clients such as the Russian Stroganoff family and the high-flying British politician SirPhilip Sassoon. In New York, he developed interest in European art attracting collectors such as Benjamin Altman,William Randolph Hearst and J. P. Morgan. On his death, his son German Seligman continued to run to company.• John WeberWeber was born in 1932 in Los Angeles. He was a radio corpsman in the Navy during the Korean War beforereceiving a bachelor’s degree from Antioch College in Yellow Springs, Ohio in 1958. As a contemporary art dealer,Weber was ahead of his time as he was one of the early promotors of Conceptual Art, Post-Minimalist sculpture andItalian Arte Povera. He was the director of several galleries throughout his career and helped organize shows thatfeatured big names such as Robert Indiana, Richard Long and Andy Warhol. Weber died May 23, 2008 in Hudson,N.Y. at age 75.[5]

Professional organizations• Antique Tribal Art Dealers Association, Inc. (ATADA)[6]• Art Dealers Association of America (ADAA)[7]• Art and Antique Dealers League of America (AADLA)[8]• Association of Art and Antiques Dealers (LAPADA)[9]• British Art Market Federation (BAMF)• British Antique Dealers' Association (BADA)[10]• Confédération Internationale des Négociants en Oeuvres d'Art (CINOA)[11]• Fine Art Dealers Association (FADA)[12]• Private Art Dealers Association (PADA)[13]• Society of London Art Dealers (SLAD)[14]

Art dealer 16

• The European Fine Art Foundation (TEFAF)[15]

References[1] Cowley, Stacy (2008-04-16). "Amid art boom, dealers brace for a bust" (http:/ / money. cnn. com/ 2008/ 04/ 15/ smbusiness/

singing_in_rain_art. fsb/ index. htm?section=magazines_fsb). Fortune Small Business. . Retrieved 2008-06-03.[2] Dealer Arne Glimcher Thinks Art Market Is `A Little Bit Crazy' - Bloomberg.com (http:/ / www. bloomberg. com/ apps/

news?pid=20601088& sid=a1O4sidv4. xg& refer=muse)[3] Grimes, William (2008-06-05). "Klaus Perls, Art Dealer Who Gave Picassos to the Met, Dies at 96" (http:/ / www. nytimes. com/ 2008/ 06/

05/ arts/ design/ 05perls. html?ref=design). New York Times. . Retrieved 2008-06-05.[4] Bauver, Robert (2007, Spring). "ATADA Lifetime Achievement Awards - Antique Tribal Arts Community Honors Its Own" (http:/ / www.

atada. org/ ATADA_News2-07. html). ATADA News (Antique Tribal Arts Dealers Association, Inc.). . Retrieved 2009-10-04.[5] Smith, Roberta (2008-06-01). "John Weber, 75, Contemporary-Art Dealer, Is Dead" (http:/ / www. nytimes. com/ 2008/ 06/ 01/ arts/ design/

01weber. html?ref=design). New York Times. . Retrieved 2008-06-05.[6] http:/ / www. atada. org/[7] http:/ / www. artdealers. org/[8] http:/ / www. artantiquedealersleague. org/[9] http:/ / www. lapada. org/[10] http:/ / www. bada. org/[11] http:/ / www. cinoa. org/[12] http:/ / www. fada. com/[13] http:/ / www. pada. net/[14] http:/ / www. slad. org. uk/[15] http:/ / www. tefaf. com/

Art exhibition

This Year Venuses Again!, 1864. Honoré Daumier satirizes thebourgeoisie scandalized by the Paris Salon's Venuses.

Art exhibitions are traditionally the space in whichart objects (in the most general sense) meet anaudience. The exhibit is universally understood to befor some temporary period unless, as is rarely true, itis stated to be a "permanent exhibition". In AmericanEnglish, they may be called "exhibit", "exposition"(the French word) or "show". In UK English, they arealways called "exhibitions" or "shows", and anindividual item in the show is an "exhibit".

Such expositions may present pictures, drawings,video, sound, installation, performance, interactiveart or sculptures by individual artists, groups of artistsor collections of a specific form of art. The art worksmay be presented in museums, art halls, art clubs orprivate art galleries, or at some place the principalbusiness of which is not the display or sale of art,such as a coffeehouse. An important distinction isnoted between those exhibits where some or all of theworks are for sale, normally in private art galleries,and those where they are not. Sometimes the event isorganized on a specific occasion, like a birthday,anniversary or commemoration.

Art exhibition 17

Types of exhibitions

Exhibition space being readied for a show at the Arthur M. SacklerGallery

There are different kinds of art exhibitions, in particularthere is a distinction between commercial andnon-commercial exhibitions. Temporary museumexhibitions typically display items from the museum'sown collection on a particular period, theme or topic,supplemented by loans from other collections, mostlythose of other museums. They normally include noitems for sale; they are distinguished from themuseum's permanent displays, and most large museumsset aside a space for temporary exhibitions. Exhibitionsin commercial galleries are often entirely made up ofitems that are for sale, but may be supplemented byother items that are not. Typically, the visitor has to pay(extra on top of the basic museum entrance cost) toenter a museum exhibition, but not a commercial one in

a gallery. Retrospectives look back over the work of a single artist; other common types are individual expositions or"solo shows", group expositions, or expositions on a specific theme or topic. The Biennale is a large exhibition heldevery two years, often intending to gather together the best of international art; there are now many of these. Atravelling exhibition is another category of art exhibition.

Exhibitions of new or recent art can be juried, invitational, or open.• A juried exhibition, such as the Royal Academy Summer Exhibition in London, the Chianciano Biennale at the

Chianciano Museum of Art, or the Iowa Biennial, has an individual (or group) acting as judge of the submittedartworks, selecting which are to be shown. If prizes are to be awarded, the judge or panel of judges will usuallyselect the prizewinners as well.

• In an invitational exhibition, such as the Whitney Biennial, the organizer of the show asks certain artists to supplyartworks and exhibits them.

• An open or "non-juried" exhibition, such as the Kyoto Triennial,[1] allows anybody to enter artworks and showsthem all. A type of exhibition that is usually non-juried is a mail art exhibition.

Art exhibition 18

History

"A Slight Attack of Third Dimentia Brought onby Excessive Study of the Much Talked of Cubist

Pictures in the International Exhibition at NewYork," drawn by John French Sloan in April

1913, satirizing the Armory Show.

The art exhibition has played a crucial part in the market for new artsince the 18th and 19th centuries. The Paris Salon, open to the publicfrom 1737, rapidly became the key factor in determining thereputation, and so the price, of the French artists of the day. The RoyalAcademy in London, beginning in 1769, soon established a similargrip on the market, and in both countries artists put great efforts intomaking pictures that would be a success, often changing the directionof their style to meet popular or critical taste. The British Institutionwas added to the London scene in 1805, holding two annualexhibitions, one of new British art for sale, and one of loans from thecollections of its aristocratic patrons. These exhibitions receivedlengthy and detailed reviews in the press, which were the main vehiclefor the art criticism of the day. Critics as distinguished as DenisDiderot and John Ruskin held their readers attention by sharplydivergent reviews of different works, praising some extravagantly andgiving others the most savage put-downs they could think of. Many ofthe works were already sold, but success at these exhibitions was acrucial way for an artist to attract more commissions. Amongimportant early one-off loan exhibitions of older paintings were the ArtTreasures Exhibition, Manchester 1857, and the Exhibition of National Portraits in London, at what is now theVictoria and Albert Museum, held in three stages in 1866-68.

As the academic art promoted by the Paris Salon, always more rigid than London, was felt to be stifling French art,alternative exhibitions, now generally known as the Salon des Refusés ("Salon of the Refused") were held, mostfamously in 1863, when the government allowed them an annex to the main exhibition for a show that includedÉdouard Manet's Luncheon on the Grass (Le déjeuner sur l’herbe) and James McNeill Whistler's Girl in White. Thisbegan a period where exhibitions, often one-off shows, were crucial in exposing the public to new developments inart, and eventually Modern art. Important shows of this type were the Armory Show in New York City in 1913 andthe London International Surrealist Exhibition in 1936.

Museums started holding large loan exhibitions of historic art in the late 19th century, as also did the RoyalAcademy, but the modern "blockbuster" museum exhibition, with long queues and a large illustrated catalogue, isgenerally agreed to have been introduced by the exhibitions of artifacts from the tomb of Tutankhamun held inseveral cities in the 1970s. Many exhibitions, especially in the days before good photographs were available, areimportant in stimulating research in art history; the exhibition held in Bruges in 1902 (poster illustrated below) had acrucial impact on the study of Early Netherlandish painting.

Preservation issuesAlthough preservation issues are often disregarded in favor of other priorities during the exhibition process, they should certainly be considered so that possible damage to the collection is minimized or limited. As all objects in the library exhibition are unique and to some extent vulnerable, it is essential that they be displayed with care. Not all materials are able withstand the hardships of display, and therefore each piece needs to be assessed carefully to determine its ability to withstand the rigors of an exhibition. In particular, when exhibited items are archival artifacts or paper-based objects, preservation considerations need be emphasized because damage and change in such materials is cumulative and irreversible.[2] Two trusted sources – the National Information Standard Organization's[3] Environmental Conditions for Exhibiting Library and Archival Materials, and the British Library's Guidance for

Art exhibition 19

Exhibiting Library and Archive Materials – have established indispensable criteria to help curtail the deleteriouseffects of exhibitions on library and archival materials. These criteria may be divided into five main preservationcategories: Environmental concerns of the exhibition space; Length of the exhibition; Individual cases; Displaymethods used on individual objects; and Security.

Environmental concerns of the exhibition space

MARTa Herford in Herford, Germany. M for Möbel, ARTfor Art and a for Ambiente

The main concerns of exhibition environments include light,relative humidity, and temperature.

LightLight wavelength, intensity, and duration contributecollectively to the rate of material degradation inexhibitions.[4] The intensity of visible light in the displayspace should be low enough to avoid object deterioration, butbright enough for viewing. A patron’s tolerance of low levelillumination can be aided by reducing ambient light levels to alevel lower than that falling on the exhibit.[5] Visible lightlevels should be maintained at between 50 lux and 100 luxdepending on the light sensitivity of objects.[6] An items levelof toleration will depend on the inks or pigments being exposed and the duration of the exhibition time. A maximumexhibition length should initially be determined for each exhibited item based on its light sensitivity, anticipated lightlevel, and its cumulative past and projected exhibition exposure.

Light levels need to be measured when the exhibition is prepared. UV light meters will check radiation levels in anexhibit space, and data event loggers help determine visible light levels over an extended period of time. Blue woolstandards cards can also be utilized to predict the extent to which materials will be damaged during exhibits.[7] UVradiation must be eliminated to the extent it is physically possible; it is recommended that light with a wavelengthbelow 400 nm (ultraviolet radiation) be limited to no more than 75 microwatts per lumen at 10 to 100 lux.[8]

Furthermore, exposure to natural light is undesirable because of its intensity and high UV content. When suchexposure is unavoidable, preventative measures must be taken to control UV radiation, including the use of blinds,shades, curtains, UV filtering films, and UV-filtering panels in windows or cases. Artificial light sources are saferoptions for exhibition. Among these sources, incandescent lamps are most suitable because they emit little or no UVradiation.[9] Fluorescent lamps, common in most institutions, may be used only when they produce a low UV outputand when covered with plastic sleeves before exhibition.[10] Though tungsten-halogen lamps are currently a favoriteartificial lighting source, they still give off significant amounts of UV radiation; use these only with special UVfilters and dimmers.[11] Lights should be lowered or turned off completely when visitors are not in the exhibitionspace.

Relative humidity (RH)The exhibition space's relative humidity (RH) should be set to a value between 35% and 50%.[12] The maximumacceptable variation should be 5% on either side of this range. Seasonal changes of 5% are also allowed. The controlof relative humidity is especially critical for vellum and parchment materials, which are extremely sensitive tochanges in relative humidity and may contract violently and unevenly if displayed in too dry an environment.TemperatureFor preservation purposes, cooler temperatures are always recommended. The temperature of the display space should not exceed 72 °F.[13] A lower temperature of down to 50 °F can be considered safe for a majority of objects. The maximum acceptable variation in this range is 5 °F, meaning that the temperature should not go above 77 °F and below 45 °F. As temperature and relative humidity are interdependent, temperature should be reasonably constant so

Art exhibition 20

that relative humidity can be maintained as well. Controlling the environment with 24-hour air conditioning anddehumidification is the most effective way of protecting an exhibition from serious fluctuations.

Length of the exhibition

Poster, Bruges, 1902

One factor that influences how well materials will fare in an exhibitionis the length of the show. The longer an item is exposed to harmfulenvironmental conditions, the more likely that it will experiencedeterioration. Many museums and libraries have permanentexhibitions, and installed exhibitions have the potential to be on theview without any changes for years.

Damage from a long exhibition is usually caused by light. The degreeof deterioration is different for each respective object. For paper-baseditems, the suggested maximum length of time that they should be ondisplay is three months per year, or 42 kilolux hours of light per year –whichever comes first.[14]

An exhibition log report, including records of the length of theexhibition time and the light level of the display, may prevent objectsfrom being exhibited too frequently. Displayed items need to beinspected regularly for evidence of damage or change.[15] It isrecommended that high-quality facsimiles of especially delicate orfragile materials be displayed in lieu of originals for longer exhibitions.[16]

Individual casesLibrary or archival materials are usually displayed in cases or frames. Cases provide a physically and chemicallysecure environment. Vertical cases are acceptable for small or single-sheet items, and horizontal cases can be usedfor a variety of objects, including three-dimensional items such as opened or closed books, and flat paper items. Allthese objects can be arranged simultaneously in one horizontal case under a unified theme.Materials used for case construction should be chosen carefully because component materials can easily become asignificant source of pollutants or harmful fumes for displayed objects. Off-gassing from materials used in theconstruction of the exhibition case and/or fabrics used for lining the case can be destructive. Pollutants may causevisible deterioration, including discoloration of surfaces and corrosion. Examples of evaluative criteria to be used indeeming materials suitable for use in exhibit display could be the potential of contact-transfer of harmful substances,water solubility or dry-transfer of dyes, the dry-texture of paints, pH, and abrasiveness.[17]

If possible, use only new cases constructed of safe materials such as metal, plexiglass, or some sealed woods.[18]

Separating certain materials from the display section of an exhibition case by lining relevant surfaces with animpermeable barrier film will help protect items from damage. Any fabrics that line or decorate the case (e.g.polyester blend fabric), and any adhesives used in the process, should also be tested to determine any risk. Usinginternal buffers and pollutant absorbers, such as silica gel, activated carbon, or zeolite, is a good way to control RHand pollutants. Buffers and absorbers should be placed out of sight in the base or behind the backboard of a case. Ifthe case is to be painted, it is recommended that one avoid oil paints. Acrylic or Latex paint is preferable.

Art exhibition 21

Display methods

A photography exhibition in Moscow, 2010

There are two kinds of objects displayed at the library and archivalexhibition – bound materials and unbound materials. Bound materialsinclude books and pamphlets, and unbound materials includemanuscripts, cards, drawings, and other two-dimensional items. Theobservance of proper display conditions will help minimize anypotential physical damage. All items displayed must be adequatelysupported and secured.

Unbound materialsUnbound materials, usually single-sheet items, need to be attached

securely to the mounts, unless matted or encapsulated. Metal fasteners, pins, screws, and thumbtacks should notcome in direct contact with any exhibit items.[19] Instead, photo corners, polyethylene, or polyester film straps mayhold the object to the support. Objects may also be encapsulated in polyester film, though old and untreated acidicpapers should be professionally deacidified before encapsulation.[20] Avoid potential slippage during encapsulation –when possible, use ultrasonic or heat seals. For objects that need to be hung (and that may require more protectionthan lightweight polyester film), matting would be an effective alternative.

Objects in frames should be separated from harmful materials through matting, glazing, and backing layers. Matting,which consists of two pH-neutral or alkaline boards with a window cut in the top board to enable the object to beseen, can be used to support and enhance the display of single sheet or folded items. Backing layers of archivalcardboard should be thick enough to protect objects. Moreover, any protective glazing used should never come indirect contact with objects.[21] Frames should be well-sealed and hung securely, allowing a space for air circulationbetween the frame and the wall.Bound materialsThe most common way to display bound materials is closed and lying horizontally. If a volume is shown open, theobject should be open only as much as its binding allows. Common practice is to open volumes at an angle nogreater than 135°.[22] There are some types of equipment that help support volumes as they displayed openly: blocksor wedges, which hold a book cover to reduce stain at the book hinge; cradles, which support bound volumes as theylay open without stress to the binding structure; and polyester film strips, which help to secure open leaves.Textblock supports are best used in conjunction with book cradles where the textblock is greater than 1/2 inch, orwhere the textblock noticeably sags.[23] Regardless of its method of support, however, it is with noting that any bookthat is kept open for long periods can cause damage. One should turn an exhibited book's pages every few days inorder to protect pages from overexposure to light and spread any strain on the binding structure.

SecurityBecause exhibited items are often of special interest, they demand a high level of security to reduce the risk of lossfrom theft or vandalism. Exhibition cases should be securely locked. In addition, cases may be glazed with a materialthat hinders penetration and that when broken does not risk shards of glass falling on the exhibits.[24] Wheneverpossible, the exhibition area should be patrolled; a 24-hour security presence is recommended when precioustreasures are exhibited.[25] Finally, the exhibition is best protected when equipped with intruder alarms, which can befitted at entry points to the building and internal areas.

Art exhibition 22

Notes[1] Kyoto Triennial (http:/ / www. kiwa. net/ )[2] Mary Todd Glaser, "Protecting Paper and Book Collections During Exhibition," Northeast Document Conservation Center, NEDCC.org

(http:/ / www. nedcc. org/ plam3/ tleaf25. htm), (accessed August 9, 2009).[3] NISO.org (http:/ / www. niso. org/ home)[4] National Preservation Office, Guidance for Exhibiting Library and Archive Materials, Preservation Management Series (London: British

Library, 2000), 2.[5] Ibid.[6] National Information Standards Organization, Environmental Conditions for Exhibiting Library and Archival Materials (Bethesda, MD:

NISO Press., 2001), 6.[7] Gary Thompson, The Museum Environment, 2nd ed. (London: Butterworths, 1986), 183.[8] NISO, 6.[9] Edward P. Adcock, IFLA Principles for the Care and Handling of Library Material (Paris: IFLA, 1998), 27.[10] Ibid.[11] Ibid.[12] NISO, 6.[13] Ibid., 8.[14] Ibid., 6.[15] Ibid[16] Nelly Balloffet, and Jenny Hille, Preservation and Conservation for Libraries and Archives (Chicago: ALA, 2005), 37.[17] NISO, 10.[18] Ibid.[19] Ibid., 11.[20] Glaser, NEDCC.org (http:/ / www. nedcc. org/ plam3/ tleaf25. htm), (accessed August 09, 2009).[21] Gail E. Farr, Archives and Manuscripts: Exhibits (Chicago: Society of American Archivists, 1980), 42.[22] NISO, 12.[23] NPO, 6.[24] Balloffet and Hille, 154.[25] Farr, 22.

References• O'Doherty, Brian and McEvilley, Thomas (1999). Inside the White Cube: The Ideology of the Gallery Space.

University of California Press, Expanded edition. ISBN 0-520-22040-4.• New York School Abstract Expressionists Artists Choice by Artists, New York School Press, 2000. ISBN

0-9677994-0-6.• National Information Standards Organization. Environmental Conditions for Exhibiting Library and Archival

Materials. Bethesda, MD: NISO Press, 2001.• National Preservation Office. Guidance for Exhibiting Library and Archive Materials. Preservation Management

Series. London: British Library, 2000.

External links• Carpe Diem.iM (http:/ / www. carpediem. im/ album. php?u=127) - Online exhibition for fine arts• Yucolo.com (http:/ / www. yucolo. com) - Current art exhibitions in Germany, Austria, Switzerland, Spain and

Portugal• Artabase.net (http:/ / www. artabase. net) - Current and archived international exhibitions• ArtVista (http:/ / www. artvista. de) - Art fair calendar• Exposicions.tv (http:/ / www. exposicions. tv) - Current exhibitions in Barcelona

Commission 23

CommissionIn art, a commission is the hiring and payment for the creation of a piece, often on behalf of another.In classical music, ensembles often commission pieces from composers, where the ensemble secures the composer'spayment from private or public organizations or donors.

Commissions for public artThroughout history, it has been common for rulers and governments to commission public art as a means ofdemonstrating power and wealth, or even for specific propaganda purposes.In ancient Rome, large architectural projects were commissioned as symbols of imperial glory. The Roman Coliseumfor example, was commissioned by Emperor Vespasian. Public statuary was widespread, depicting mythical andheroic figures. The frieze that is carved into the Marcus Column, located at the Campus Martius, depicts the figure ofVictory, and would have been commissioned to honour successful military campaigns waged by Marcus Aurelius.[1]

Ancient Roman culture was anti-intellectual and held artists in low esteem, in contrast to ancient cultures such as theGreek[2] or Babylonian. Despite this, however, the sheer amount of surviving artworks commissioned at the heightof the Roman Empire are a testament to the rulers' recognition of art's effectiveness in influencing the public'sopinions about its civilization and its government.During the Renaissance, visual art flourished in the cities of Italy due to the patronage of wealthy merchants andgovernment officials, such as Cesare Borgia. Leonardo da Vinci earned steady commissions for artwork rangingfrom paintings (such as the Virgin of the Rocks for the Church of San Francisco Grande), to murals (The LastSupper for the monastery church of Santa Maria della Grazia), to sculptures (the Great Horse at Sforza). [3] The mostfamous commissioned artwork of the Renaissance may be the Sistine Chapel ceiling at the Vatican, painted byMichelangelo as a commission for Pope Julius II.Today, public artworks may be commissioned by benefactors who wish to donate the artwork to a city as a gift to thepublic. "Famine" (1997), a series of sculptures by Rowan Gillespie depicting victims of the Great Famine, wascommissioned by Norma Smurfit and donated to the city of Dublin, Ireland. The harrowing memorial has broughtother commissions to Gillespie, who has created companion sculptures for the cities of Toronto[4] and Boston.

Commissions from private sourcesBusinesses and private collectors may also commission artwork. In 2011, American graphic artist Shepard Faireywas commissioned by a clothing store in Ottawa, Canada to complete a mural on an exterior wall of the store.[5] Likemuch of Fairey's artistic output, the mural is open to interpretation.

Other usesAn art gallery or dealer who sells artworks on an artist's behalf, typically takes a percentage of the price. This portionis called the gallery's "commission". The remainder of the proceeds goes to the artist. In this way, the gallery ordealer is not only the middleman but obliquely takes the role of "patron" in that it provides representation, housing ofartworks, marketing and income for the artist.

Commission 24

References[1] "Roman Relief Sculpture Part II" (http:/ / www. visual-arts-cork. com/ antiquity/ relief-sculpture-ancient-rome. htm). Visual Arts Cork. .

Retrieved August 14, 2011.[2] "Ancient Roman Exhibits" (http:/ / www. mama. org/ exhibits/ ancient/ roman/ ). Museum of Ancient and Modern Art,. . Retrieved August

14, 2011.[3] "Leonardo Da Vinci" (http:/ / www. theartgallery. com. au/ arteducation/ greatartists/ davinci/ about/ ). The Worldwide Art Gallery. .

Retrieved August 14, 2011.[4] "The Famine Memorial and The World Poverty Stone" (http:/ / www. ddda. ie/ index. jsp?n=640& p=112). Dublin Docklands Development

Authority. . Retrieved August 14, 2011.[5] "John Baglow: Ottawa opts to see no evil" (http:/ / fullcomment. nationalpost. com/ 2011/ 03/ 20/ john-baglow-ottawa-opts-to-see-no-evil/ ).

National Post. . Retrieved August 14, 2011.

Contemporary art gallery

A gallery show opening in New York City

A contemporary art gallery is a place where contemporary art isshown for exhibition and/or for sale. The term "art gallery" iscommonly used to mean art museum (especially in British English),the rooms displaying art in any museum, or in the original sense, ofany large or long room.

Identity, function and locality

A contemporary gallery is commercial or privately-funded and usuallyhas a second-tier status positioned between the first-tier status of anational, state-run or corporate museum, and the third-tier of minorgalleries which include artist-run galleries, retail galleries, and artist's co-operatives.Commercial galleries are for-profit, privately owned businesses dealing in artworks by contemporary artists.Galleries run for the public good by cities, churches, art collectives, not-for-profit organizations, and local ornational governments are usually termed Non-Profit Galleries. Many of these, such as the Tate Gallery have anaspect of charity and can be arranged around a Trust or estate. Galleries run by artists are sometimes known as ArtistRun Initiatives, and may be temporary or otherwise different from the traditional gallery format.Contemporary art galleries are often established together in urban centers such as the Chelsea district of New York,widely considered to be the center of the American contemporary art world. Most large urban areas have several artgalleries, and most towns will be home to at least one. However, they may also be found in small communities, andremote areas where artists congregate, e.g. the Taos art colony in New Mexico and St Ives, Cornwall; Hill End,Braidwood and Byron Bay in New South Wales Contemporary art galleries are usually free and open to the public,however some are semi-private, more exclusive, and by appointment only.

ExhibitionsCurators often create group shows that say something about contemporary issues or a certain theme, trend in art, orgroup of associated artists. Galleries often choose to represent artists exclusively, giving them the opportunity toshow regularly. Some have a narrow focus while others are more eclectic.Although primarily concerned with providing a space to show works of visual art, art galleries are sometimes used to host other artistic activities, such as music concerts, poetry readings, or performances, which are considered performance art and at other times theater. While many galleries exhibit painting and sculpture of all types and movements like Abstract expressionism, Pop Art, Photo realism, Color Field, Minimalism, Lyrical Abstraction, Realism, and Postminimalism etc. Conversely, some works of contemporary art are not shown in a gallery. Land art,

Contemporary art gallery 25

performance art, internet art, mail art and installation art and other emerging forms also often exist outside a gallerydue to being site-specific. Documentation of these kinds of art such as photographic records, are often shown andsold in galleries however, as are preliminary or process drawings and collages (such as those generated by Christo aspart of the proposal to governing bodies when applying to install land works). British artist Richard Long manages tocombine his core intentions by linking the materials used in his land art, to make gallery art. Andy Goldsworthy doesso as well.

BusinessThere are many operational models that galleries follow. The most common business model is that of the for-profit,privately owned gallery. This is an extremely competitive market but one that may yield great profits. As a generalrule, commercial galleries do not charge admission to the public, perhaps in a nod to the egalitarian philosophies ofmany artists and critics and to encourage attendance, or perhaps in the interests of just good business. Instead, theyprofit by taking a cut of the art's sales; the exact percentage varies. Some galleries in cities like Tokyo and in NewYork charge the artists a flat rate per day or per week, though this is considered distasteful in some international artmarkets. Inevitably the business of contemporary art has in recent decades become increasingly internationalized andcommercialized.Commercial galleries often choose to represent artists exclusively, giving them the opportunity to have solo showsregularly. They usually promote the artist's shows by cultivating collectors, making press contacts, and trying to getcritical reviews. Most reputable galleries absorb the cost of printing invitations to the opening, guidebooks, and otherP.R. publications. Some galleries self-publish or help to arrange publishing for art books and monographsconcerning their artists. They sometimes provide a stipend or otherwise ensure the artist has enough money to makeends meet. One idiosyncrasy of contemporary art galleries is their aversion to signing business contracts, althoughthis is changing due to artists taking more control of their output and saleability through professional practiceinformation provided by artists' associations.Large commercial art fairs where galleries show their best artists and sell works over a period of a week or so havetaken the art world by storm in recent years. The biggest of these is the Armory Show in New York (not to beconfused with the famous show by the same name in 1913), which charges admission. These fairs have beencriticized by artists as over-commercializing contemporary art.There are also many not-for-profit and art-collective galleries which follow different business models, as well asvanity galleries which prey on unsavvy artists.

Art districtsGalleries tend to cluster in certain neighborhoods within cosmopolitan cities for economic and practical reasons,mainly that it is possible for the buyers and general public to view more art if they can travel by foot. In the pastgalleries have tended to cluster in neighborhoods with affordable real-estate due to the unprofitable nature of thebusiness. However in the 21st c. art galleries are strongly associated with the process of gentrification, and prime realestate for Chelsea galleries is not affordable for unprofitable galleries. Generally, cities that have less centralized artdistricts are faring poorly in terms of market share.

Contemporary art gallery 26

List of art districts by area name, city and country

USA

• Chelsea, 57th Street, Upper East Side and Madison Avenue, SoHo, Lower East Side, TriBeCa, and Dumbo, andWilliamsburg, Brooklyn, New York City.

• The Railyard District and Canyon Road, Santa Fe, New Mexico.• Gallery Row, Downtown Los Angeles, Los Angeles.• River North Gallery District, Near North Side, Chicago.• West Loop, Chicago.• Design District, Miami, Florida• Wynwood Art District, Miami, Florida• Worth Avenue, Palm Beach, Florida• Bergamot Station, Santa Monica, California

UK

• Cork Street, Fitzrovia, Hoxton and Vyner Street in London, UK.

Australia

• Paddington and Woollahra, Glebe and the Rocks, Sydney• Bourke Street and Southbank Melbourne

China

• 798 Art Zone and Feijiacun, Beijing, China.• m50 Art District, Shanghai, China.

Other

• West Queen West, Distillery District, Yorkville, Grange Park Toronto, Canada.• Insadong District, Seoul, Korea

References

Estate sale 27

Estate saleAn estate sale or estate liquidation is a sale or auction to dispose of a substantial portion of the materials owned bya person who is recently deceased or who must dispose of his or her's, personal property to facilitate a move.[1]

Reasons for an estate saleThe most common reason for an estate sale is the death of the property owner, and the consequent need to quicklyliquidate the deceased's belongings. The survivors may have no interest in the bulk of the personal belongings left bythe deceased, or may simply lack space to keep the belongings. In situations in which the survivors cannot agree tothe disposition of tangible property, a court may order the goods to be sold in an estate sale with the proceeds to bedivided among the survivors. Such a sale and division may also be mandated in the will of the deceased.An estate sale may also occur because the property owner will be moving or has moved into a situation where he willbe unable to keep his property—for example, a move to an assisted living facility, a retirement community, a resthome, or other living quarters.

ConductEstate sales are usually conducted by a professional, for a percentage of the revenues. The liquidator may also chargethe estate for the costs to give the sale, including advertising, marketing, research, labor, security, refreshments andother fees incurred in giving a successful sale. The presence of a professional liquidator may be necessary becausethe scope of the process is likely to be overwhelming to the survivors. The liquidator often has a loyal following,consisting of dealers, collectors and the general public. The liquidator may be familiar to buyers who have beenattending the liquidator's sales for decades, and trust that the liquidator will price wisely and fairly and steer themtoward finding their niches within each collector's realm, and for the specialist's knowledge and experience withpricing items, and general value knowledge of all types of household goods and personal property value, and thespecialist's experience in disposing of unsold goods in an unsentimental manner after the sale. These professionalsoften take a percentage of the net proceeds, anywhere from 20% to 45%.

References[1] Oxford Advanced Learner's Dictionary (http:/ / www. oxfordadvancedlearnersdictionary. com/ dictionary/ estate-sale)

External links• Garage and Estate Sales (http:/ / www. dmoz. org/ Business/ Retail_Trade/ Retailers/ Informal_Selling/ / ) at the

Open Directory Project

Vanity gallery 28

Vanity galleryA vanity gallery is an art gallery that charges artists fees to exhibit their work and makes most of its money fromartists rather than from sales to the public. Some vanity galleries charge a lump sum to arrange an exhibition, whileothers ask artists to pay regular membership fees and then promise to organise an exhibition with a certain period.[1]

There is debate as to whether galleries that ask artists to contribute to expenses, e.g. by arranging for announcementsof the exhibition themselves, fall into the same category.[2]

DerivationVanity galleries are an offshoot of cooperative galleries (also called artist-run initiatives), galleries which areoperated by artists who pool their resources to pay for exhibits and publicity. Unlike cooperative galleries, whichcarefully jury their members, vanity galleries will exhibit anyone who pays.[3] In 1981 Village Voice reporter LisaGubernick posed as an artist and "within 20 minutes" of contacting the Keane Mason Woman Art Gallery washanded a contract for "$720 for 16 feet of wall".[4] Occasionally a vanity gallery will appear to have a selectionprocess. This is because "if every participant is promised a one- or two-person show every two years, the number ofartists on the membership roster cannot exceed the available time slots for shows."[5]

Commercial art galleries derive their profit from sales of artwork, and thus take great care to select art and artists thatthey believe will sell, and will enhance their gallery's reputation. They spend time and money cultivating collectors.If the artwork sells, the gallery makes a profit and the artist is then paid.Vanity galleries have no incentive to sell art, as they have already been paid by the artist. Vanity galleries are notselective because they don't have to be. Many professional artists recommend new artists avoid exhibiting work inthem, primarily because professional critics and reviewers tend to avoid them.[1] [6]

References[1] Kathy Gulrich (2003). 187 Tips for Artists: How to Create a Successful Art Career - and Have Fun in the Process!. smART Business

Coaching. p. 57. ISBN 0974653306.[2] Sylvia White. "Vanity Galleries, Artist Co-ops, Slides, Announcements, Juried Shows, Advertising... Just how much do I have to pay to be an

artist?" (http:/ / www. artspan. com/ newsletter/ artsMart_Newsletter03. htm). artspan.com. . Retrieved 2007-06-05.[3] Michels, Caroll (2001). How to Survive and Prosper as an Artist: Selling Yourself without Selling Your Soul. Henry Holt and Company. pp. p.

112. ISBN -0-8050-6800-7.[4] Gubernick, Lisa ([October 7–13, 1981). "I Was an Artist for the Village Voice". Village Voice: pp. 71[5] Debora Melz (1995), "Vanities: Caveat Exhibitor" in Getting Exposure: The Artist's Guide to Exhibiting the Work. Art Calendar Publishing,

Inc., p. 182. ISBN 0-945388-04-7.[6] Vanity Galleries (http:/ / blogcritics. org/ archives/ 2004/ 08/ 10/ 191830. php) by Lenny Campello, 10 August 2004.

29

Museums

Art museum

The Louvre in Paris, France, is one of the world'slargest museums and it is the most visited art

museum in the world.

An art gallery or art museum is a building or space for the exhibitionof art, usually visual art. Museums can be public or private, but whatdistinguishes a museum is the ownership of a collection. Paintings arethe most commonly displayed art objects; however, sculpture,decorative arts, furniture, textiles, costume, drawings, pastels,watercolors, collages, prints, artists' books, photographs, andinstallation art are also regularly shown.[1] Although primarilyconcerned with providing a space to show works of visual art, artgalleries are sometimes used to host other artistic activities, such asperformance art, music concerts, or poetry readings.

Types of galleries

The Gallery of Cornelis van der Geest, Willemvan Haecht, 1628. A private picture gallery as an

early precursor of the modern museum.

The term is used for both public galleries, which are non-profit orpublicly owned museums that display selected collections of art. Onthe other hand private galleries refers to the commercial enterprisesfor the sale of art. However, both types of gallery may host travelingexhibits or temporary exhibitions including art borrowed fromelsewhere.

Galleries in museums

The rooms in museums where art is displayed for the public are oftenreferred to as galleries as well, with a room dedicated to AncientEgyptian art often being called the Egyptian Gallery, for example.

Contemporary art gallery

Art museum 30

The term contemporary art gallery refers usually to a privately owned for-profit commercial gallery. These galleriesare often found clustered together in large urban centers. Smaller cities are usually home to at least one gallery, butthey may also be found in towns or villages, and remote areas where artists congregate, e.g. the Taos art colony andSt Ives, Cornwall.Contemporary art galleries are usually open to the general public without charge; however, some are semi-private.They usually profit by taking a portion of art sales; from 25% to 50% is typical. There are also many non-profit orcollective galleries. Some galleries in cities like Tokyo charge the artists a flat rate per day, though this is considereddistasteful in some international art markets. Galleries often hang solo shows. Curators often create group shows thatsay something about a certain theme, trend in art, or group of associated artists. Galleries sometimes choose torepresent artists exclusively, giving them the opportunity to show regularly.A gallery's definition can also include the artist cooperative or artist-run space, which often (in North America andWestern Europe) operates as a space with a more democratic mission and selection process. Such galleries typicallyhave a board of directors and a volunteer or paid support staff that select and curate shows by committee, or somekind of similar process to choose art that typically lacks commercial ends.

Vanity galleriesA vanity gallery is an art gallery that charges fees from artists in order to show their work, much like a vanity pressdoes for authors. The shows are not legitimately curated and will frequently or usually include as many artists aspossible. Most art professionals are able to identify them on an artist's resume.[2]

Visual art not shown in a galleryWorks on paper, such as drawings, pastels, watercolors, prints, and photographs are typically not permanentlydisplayed for conservation reasons. Instead, public access to these materials is provided by a dedicated print studyroom located within the museum. Murals generally remain where they have been painted, although many have beenremoved to galleries. Various forms of 20th century art, such as land art and performance art, also usually existoutside a gallery. Photographic records of these kinds of art are often shown in galleries, however. Most museum andlarge art galleries own more works than they have room to display. The rest are held in reserve collections, on oroff-site.Similar to an art gallery is the sculpture garden (or sculpture park), which presents sculpture in an outdoor space.Sculpture installation has grown in popularity, whereby temporary sculptures are installed in open spaces duringevents like festivals.

ArchitectureThe architectural form of the art gallery was established by Sir John Soane with his design for the Dulwich PictureGallery in 1817. This established the gallery as a series of interconnected rooms with largely uninterrupted wallspaces for hanging pictures and indirect lighting from skylights or roof lanterns.The late 19th century saw a boom in the building of public art galleries in Europe and America, becoming anessential cultural feature of larger cities. More art galleries rose up alongside museums and public libraries as part ofthe municipal drive for literacy and public education.In the middle and late 20th century earlier architectural styles employed for art museums (such as the Beaux-Arts style of the Metropolitan Museum of Art in New York City or the Gothic and Renaissance Revival architecture of Amsterdam's Rijksmuseum) were increasingly replaced with more modern styles, such as Deconstructivism. Examples of this trend include the Guggenheim Museum in New York City by Frank Lloyd Wright, Frank Gehry's Guggenheim Museum Bilbao, Centre Pompidou-Metz by Shigeru Ban, and Mario Botta's redesign of the San Francisco Museum of Modern Art. Some critics argue that these galleries are self-defeating, in that their dramatic

Art museum 31

interior spaces distract the eye from the paintings they are supposed to exhibit.

Cultural aspectsMany art museums throughout history have been designed with a cultural purpose or been subject to politicalintervention. In particular National Art Galleries have been thought to incite feelings of nationalism. This hasoccurred in both democratic and non-democratic countries, although authoritarian regimes have historicallyexercised more control over administration of art museums. Ludwig Justi was for example dismissed as director ofthe The Alte Nationalgalerie (Old National Gallery) in Berlin in 1933 by the new Nazi authorities for not beingpolitically suitable.[3]

Since the 1970s a number of political theorists and social commentators have pointed to the political implications ofart museums and social relations. Pierre Bourdieu, for instance, argued that in spite the apparent freedom of choice inthe arts, people's artistic preferences (such as classical music, rock, traditional music) strongly tie in with their socialposition. So called Cultural capital is a major factor in social mobility (for example, getting a higher-paid,higher-status job). The argument states that certain art museums are aimed at perpetuating aristocratic and upperclass ideals of taste and excludes segments of society without the social opportunities to develop such interest. Thefine arts thus perpetuate social inequality by creating divisions between different social groups. This argument alsoties in with the Marxist theory of mystification and elite culture.[4]

Furthermore, certain art gallerias, such as the National Gallery in London and the Louvre in Paris are situated inbuildings of considerable emotional impact. The Louvre in Paris is for instance located in the former Royal Castle ofthe ancient regime, and is thus clearly designed with a political agenda. It has been argued that such buildings createfeelings of subjugation and adds to the mystification of fine arts.[5]

Online museums

Museums with major web presencesMost art museums have only limited online collections, but a few museums, as well as some libraries andgovernment agencies, have developed substantial online catalogues. Museums, libraries and government agencieswith substantial online collections of prints, photographs, and other works on paper include:• Library of Congress, prints (C19 on) and photographs collection (several million entries).[6]

• The British Museum has 1,969,197 objects available online, of which 606,348 have one or more image (as atAugust 2011).[7]

Museums, libraries and government agencies with substantial online collections with more focus on paintings andsculpture include:• Boston Museum of Fine Arts, with over 330,000 works, most with images. Good for prints.[8]• Fine Art Museums of [[San Francisco [9]], with over 85,000 works]• Five College Museums/Historic Deerfield, with over 60,000 works, most with images.[10]

• Harvard Art Museums, with over 81,000 works, about half of which have very low resolution images.[11]

• Louvre, with over 80,000 works in various databases, with a large number of images, as well as another 140,000drawings.[12]

• National Gallery of Art, with over 108,000 works catalogued, though with only 6,000 images.[13]

• (French) The Mona Lisa Database of French Museums — Joconde [14] *(from the French Ministry of Culture)

Art museum 32

Online art collectionsThere are a number of online art catalogues and galleries that have been developed independently of the support ofany individual museum. Many of these are attempts to develop galleries of artwork that are encyclopedic orhistorical in focus, while others are commercial efforts to sell the work of contemporary artists.A limited number of such sites have independent importance in the art world. The large auction houses, such asSotheby's and Christie's maintain large online databases of art which they have auctioned or are auctioning.Bridgeman Art Library serves as a central source of reproductions of artwork, with access limited to museums, artdealers and other professionals or professional organizations.

Folksonomy

There are also online galleries that have been developed by a collaboration of museums and galleries that are moreinterested with the categorization of art. They are interested in the potential use of folksonomy within museums andthe requirements for post-processing of terms that have been gathered, both to test their utility and to deploy them inuseful ways.The steve.museum is one example of a site that is experimenting with this collaborative philosophy. Theparticipating institutions include the Guggenheim Museum, the Cleveland Museum of Art, the Metropolitan Museumof Art and the San Francisco Museum of Modern Art.

References[1] wiktionary:art gallery[2] NYFA.org: 'Investing in Your Career, A Worthwhile Risk?' (http:/ / www. nyfa. org/ level4. asp?id=159& fid=1& sid=51& tid=202)[3] Peter-Klaus Schuster: Die Alte Nationalgalerie. DuMont, Köln 2003, ISBN 3-8321-7370-6.[4] P., Bourdieu, Distinction (1979), translated into English by R., Nice (1984), ISBN 0-7100-9609-7. Espessially chapter one "Aristochracy of

Culture"[5] Le Palais-Royal des Orléans (1692-1793): Les travaux entrepris par le Régent at the Wayback Machine (archived July 7, 2007).[6] Prints & Photographs Online Catalog (http:/ / www. loc. gov/ pictures/ )[7] British Museum collection database online (http:/ / www. britishmuseum. org/ research/ search_the_collection_database. aspx)[8] http:/ / www. mfa. org[9] http:/ / www. thinker. org/ fam/ about/ imagebase/ subpage. asp?subpagekey=420[10] Five College Museums/Historic Deerfield Collections Database - Objects (http:/ / museums. fivecolleges. edu/ main. php?module=objects)[11] http:/ / www. artmuseums. harvard. edu/ collections/ servlet/ webpublisher. WebCommunication?ia=tr& ic=pt& t=bassearch&

f=bassearchform[12] Databases | Louvre Museum (http:/ / www. louvre. fr/ llv/ oeuvres/ bdd_oeuvre. jsp?bmLocale=en)[13] National Gallery of Art - The Collection (http:/ / www. nga. gov/ collection/ index. shtm)[14] http:/ / www. culture. gouv. fr/ documentation/ joconde/ fr/ pres. htm

Collection 33

Collection

A catalogue using index cards

A museum is distinguished by a collection of often unique objects thatforms the core of its activities for exhibitions, education, research, etc.This differentiates it from an archive or library, where the contentsmay be more paper-based, replaceable and less exhibition oriented. Amuseum normally has a collecting policy for new acquisitions, so onlyobjects in certain categories and of a certain quality are accepted intothe collection. The process by which an object is formally included inthe collection is called accessioning and each object is given a uniqueaccession number.

Museum collections, and archives in general, are normally cataloguedin a collection catalogue, traditionally in a card index, but nowadays ina computerized database. Transferring collection catalogues ontocomputer-based media is a major undertaking for most museums. All new acquisitions are normally catalogued on acomputer in modern museums, but there is typically a backlog of old catalogue entries to be computerized as timeand funding allows.

TypesMuseum collections are widely varied. There are collections of art, of scientific specimens, of historic objects, ofliving zoological specimens, of cheese and much more. Because there are so many things to collect, most museumshave a specific area of specialization. For example, a history museum may only collect objects relevant to aparticular county or even a single person, or focus on a type of object such as automobiles or stamps. Art museumsmay focus on a period, such as modern art, or a region. Very large museums will often have many subcollections,each with its own criteria for collecting. A natural history museum, for example, will have mammals in a separatecollection from insects.Because museums cannot collect everything, each potential new addition must be carefully considered as to itsappropriateness for a given museum's defined area of interest.

AccessioningAccessioning is the formal, legal process of accepting an object into a museum collection. Because accessioning anobject carries an obligation to care for that object in perpetuity, it is a serious decision. While in the past manymuseums accepted objects with little deliberation, today most museums have accepted the need for formalaccessioning procedures and practices. These are typically set out as part of a museum's Collections ManagementPolicy or CMP.While each museum has its own procedures for accessioning, in most cases it begins with either an offer from adonor to give an object to a museum, or a recommendation from a curator to acquire an object through purchase ortrade.Several issues must be considered in the decision to accept an object. Common issues include:• Is the object relevant to the museum's mission and its scope of collecting, as defined by its governing body?• Was the object lawfully acquired and if foreign in origin, imported in compliance with international law?• Does the owner of an object have legal title to the object and therefore the right to transfer it?• Are there any other parties with an interest in the object (e.g. heirs of a donor, descendant groups for cultural

objects, etc.)?

Collection 34

• Is the object encumbered by any legal obligations or constraints (e.g., natural history objects that require specialpermits)?

• Would the object pose any threats or dangers to other objects or staff?• Does the museum have the resources to properly care for the object (e.g., appropriate storage space, adequate

funding)• Is the object encumbered by any donor restrictions?Answering these questions often required investigating an object's provenance, the history of an object from thetime it was made.Many museums will not accession objects that have been acquired illegally[1] or where other parties have an interestin the object. In art museums, special care is given to objects that changed hands in European countries during WorldWar II and archaeological objects unearthed after the 1970 UNESCO Convention covering the transport of culturalproperty. Other disciplines have different concerns. For example, anthropology museums will pay special attentionto Native American objects that may be subject to repatriation, and paleontology museums may look carefully atwhether proper permitting procedures were followed when they are offered fossil collections.While in the past, museums often accepted objects with donor-based restrictions, many museums today ask that giftsbe given unrestricted. Common donor restrictions include requiring that an object always be exhibited, or that acollection stays together. However, such restrictions can prevent museums from changing their exhibits asscholarship evolves and may introduce conservation issues for delicate objects not suited to continued display.Final decision to accept an object generally lies with the museum's board of trustees. In large museums, a specialcommittee may meet regularly to review potential acquisitions. Once the decision has been made to accept an object,it is formally accessioned through a Deed of Gift and entered into the museum's catalog records. Each object isgiven a unique catalog number to identify it. Objects are then packed for appropriate archival storage, or prepared forexhibition or other educational use.

CareOnce accessioned into the collection, museum objects must be appropriately cared for. New objects may beexamined by a conservator and treated for any pre-existing damage. The object is then cataloged by a curator orother specialist with knowledge of the object's importance and history. The object will then be given an appropriatestorage location.Museum storage conditions are meant to protect the object and to minimize any deterioration. This often meanskeeping objects in a stable climate, preventing exposure to pests, minimizing any handling, and using only archivalmaterials that will not deteriorate or harm the objects. Object safety also include providing appropriate security, andplanning for disasters and other threats, and making sure that museum staff are trained in proper handlingprocedures.Different types of objects have different requirements, and many museums have specialized storage areas. Forexample, framed paintings may be stored in racks in one room while unframed paintings are kept in large drawers inanother. Some objects have extremely specialized needs. For example, material from underwater archaeological sitesmay need to be kept wet, and some very rare and badly deteriorated objects require oxygen-free environments.At any given time, museums display only a portion of their collections. This is often because exhibition requiresmuch more space than storage, and is impractical for the entire collection to be out. Museums may also contain manyduplicate or similar objects and find that a few specimens are better suited to display than others. In addition, certainobjects, particularly works on paper and textiles, are damaged by light and must only be displayed for short periodsof time.Museum collections are often made up of a variety of materials in a single collection including, but not limited to: canvas, oil and/or acrylic paints, wood, ivory, paper, bone, leather, and textiles. The biggest conservation issue for

Collection 35

museum collections is the fluctuations in relative humidity and temperature.[2] Relative Humidity (RH) is a measureof the percentage of saturation of the air.Temperature is not as important to the life of a work of art, but it is true that chemical reactions occur faster at highertemperatures. However, a museum must take into account the comfort of its staff and visitors and it has been widelyaccepted that 68°F-75°F does not cause a lot of problems for most artifacts and is comfortable for most humans.[2]

It has also been internationally agreed upon that the RH should be set at 50%–55%.[3] This has become widelyaccepted because the lower limit was set at 45% since damage to organic materials begin to occur below this point.The upper limit is placed at 65% because mold flourishes at 70% RH.[4] It is also cheaper for most institutions tomaintain 50% RH rather than 45% or 60%.[5] There is some exception when it comes to tropical climates since theindigenous artifacts are acclimated to RH levels higher than the “museum norm”.[5] Changes can be made to amuseum’s RH to accommodate the changing seasons, but they must be made gradually. Humidity should change in2% per month increments (an increase in 1°F will affect a decrease of about 2% RH).[4]

DeaccessioningDeaccessioning, the process of disposing, selling or trading objects from a museum collection, is not undertakenlightly in most museums. There are ethical issues to consider since many donors of objects typically expect themuseum to care for them in perpetuity. Deaccessioning of an object in a collection may be appropriate if a museumhas more than one example of that object and if the object is being transferred to another museum. It may also beappropriate if an object is badly deteriorated or threatening other objects.The decision to deaccession includes two parts. These are making the decision to deaccession and deciding themethod of disposal. Generally, first choice is to transfer an object to another use or division in a museum, such asdeaccessioning a duplicate object from a permanent collection into a teaching collection. Second choice is to transferthe object to another institution, generally with local institutions having priority. The American Association ofMuseums and other regional associations often operate lists or boards to help facilitate such transfers. Last choice issale on the open market. Open market sales are generally expected to take place at auction rather than throughprivate sale, and are typically most common in art museums due to the high monetary value of art collections.A controversial example occurred when the last remaining complete Dodo mount in a museum collection at OxfordUniversity was deaccessioned due to its deterioration in 1775.[6] Another case was the sale of a J. M. W. Turnerpainting in the collection of Royal Holloway, University of London to the Getty Museum to fund the maintenance ofthe building, despite the fact that the original benefactor had expressly requested that the collection be kept intact.[7]

Many ethical guidelines for deaccessioning require that the funds generated by disposing of collection items be usedonly to increase or maintain the remaining collection. For example, the International Council of Museums (ICOM)Code of Ethics states that:"Money or compensation received from the deaccessioning and disposal of objects and specimens from a museumcollection should be used solely for the benefit of the collection and usually for acquisitions to that samecollection".[8]

In the United Kingdom, guidelines governing deaccessioning and other ethically difficult issues can be found in theMuseums Association's Code of Ethics. In the United States, the guidelines on these matters are issued by theAmerican Association of Museums.[9]

The American Association of Museums Code of Ethics takes the position that "in no event shall they [deaccessioningproceeds] be used for anything other than acquisition or direct care of collections".[10]

Other museums may have additional restrictions on the use of funds from deaccessioning. For example, at somemuseums funds from deaccessioning a work of art can only be used to purchase a work of similar style or period (forexample, funds from selling a 20th century American print could not be used to buy a 17th century Italian painting)and the name of the donor of the sold work remains associated with the purchased artwork.

Collection 36

References[1] Cuno, James (2 November 2010). "Who’s Right? Repatriation of Cultural Property" (http:/ / iipdigital. usembassy. gov/ st/ english/

publication/ 2010/ 10/ 20101022140412aidan0. 7519953. html#By_James_Cuno). . Retrieved 19 November 2011.[2] Snyder, Jill. Caring for Your Art: A Guide for Artists, Collectors, Galleries, and Institutions. Allworth Press: New York, 2001.[3] Plenderleith, H.J. and Werner, A.E.A. The Conservation of Antiquities and Works of Art. Oxford University Press: London, 1971.[4] Bachmann, Konstanze. Conservation Concerns: A Guide for Collectors and Curators. Smithsonian Institution Press: Washington DC, 1992.[5] Lord, Gail Dexter and Lord, Barry. The Manual of Museum Planning, Second Edition. Altimira Press: Walnut Creek, CA, 1999.[6] "No longer dead as a dodo" (http:/ / www. tribuneindia. com/ 2005/ 20051002/ spectrum/ nature. htm). The Sunday Tribune. 2005-10-02. .

"The only known major remains of the dodo are in the Oxford University Museum of Natural History. Even here, in the January of 1775, aninspector from the Oxford Museum discovered the only remaining dodo, stuffed and disintegrating, and decided to throw it away. The man incharge of this task saved the head and a foot, that were in good condition, and this is all we have of the dodo bird today."

[7] MacKinnon, Ian (February 23, 1993). "Getty museum pays pounds 11m for Turner" (http:/ / www. independent. co. uk/ news/ uk/getty-museum-pays-pounds-11m-for-turner-1474651. html). The Independent (London). . Retrieved 2009-06-18. "Last night the sale wascondemned by Peter Longman, director of the Museums and Galleries Commission, which advises the Government. 'It is a great pity that theyhave been allowed to sell it,' he said. 'It is in clear contravention of the donor's intentions and it is an integral part of an important collection.'He said it was particularly sad that the painting was being sold against the benefactor's, wishes with the Government's connivance at a timewhen it was inviting people to make donations and gifts to galleries."

[8] ICOM Code of Ethics for Museums, 2006 (http:/ / icom. museum/ ethics. html#section2)[9] The American Association of Museums Code of Ethics for Museums (http:/ / www. aam-us. org/ museumresources/ ethics/ coe. cfm)[10] AAM Code of Ethics (http:/ / www. aam-us. org/ museumresources/ ethics/ coe. cfm)

External links• "Developing a Collections Program", Smithsonian Institution Archives (http:/ / siarchives. si. edu/ collections/

cmp_component. html)• Code of Ethics, International Conference of Museums (http:/ / icom. museum/ ethics. html)• Collections (http:/ / www. ucmp. berkeley. edu/ collections/ other. html) at the University of California Museum

of Paleontology• (http:/ / ces. mkcr. cz/ en/ intro. php) Central Registry of Museum-type Collections (CES) under the Ministry of

Culture of the Czech Republic• CHIN Guide to Museum Standards (http:/ / www. pro. rcip-chin. gc. ca/ sommaire-summary/

guide_normes_musees-museum_standards_guide-eng. jsp) Includes standards for metadata, vocabulary andclassification, data content, data exchange, and museum procedures.

Other resources• Malaro, M. (1998) A legal primer on managing museum collections. Washington D.C.: Smithsonian Institution

Press. ISBN 1-56098-787-1• Weil, S. (2000) A deaccession reader. Washington D.C.: American Association of Museums. ISBN

978-0-931201-50-9

Curator 37

CuratorA curator (from Latin: cura meaning "care") is a manager or overseer. Traditionally, a curator or keeper of acultural heritage institution (e.g., gallery, museum, library or archive) is a content specialist responsible for aninstitution's collections and involved with the interpretation of heritage material. The object of a traditional curator'sconcern necessarily involves tangible objects of some sort, whether it be inter alia artwork, collectibles, historicitems or scientific collections. More recently, new kinds of curators are emerging: curators of digital data objects,and biocurators.

Curator responsibilitiesIn smaller organizations, a curator may have sole responsibility for the acquisition and care of objects. The curatorwill make decisions regarding what objects to collect, oversee their care and documentation, conduct research basedon the collection, provide proper packaging of art for transport, and share that research with the public and scholarlycommunity through exhibitions and publications. In very small volunteer-based museums, such as local historicalsocieties, a curator may be the only paid staff member.In larger institutions, the curator's primary function is as a subject specialist, with the expectation that he or she willconduct original research on objects and guide the organization in its collecting. Such institutions can have multiplecurators, each assigned to a specific collecting area (e.g. Curator of Ancient Art, Curator of Prints and Drawings,etc.) and often operating under the direction of a head curator. In such organizations, the physical care of thecollection may be overseen by museum collections managers or museum conservators, and documentation andadministrative matters (such as insurance and loans) are handled by a museum registrar.

Other definitionsIn the United Kingdom, the term curator is also applied to government employees who monitor the quality ofcontract archaeological work under Planning Policy Guidance 16: Archaeology and Planning (PPG 16) and areconsidered to manage the cultural resource of a region. In the museum setting, a curator in the United Kingdom mayalso be called a "keeper".In Scotland, the term "curator" is used to mean the guardian of a child.In the United States, the term is uniquely used to refer to the Board of Curators, the governing body of the Universityof Missouri System. The Board consists of nine members appointed by the state governor.More recently, advances in new technologies have led to a further widening of the role of curator. This has beenfocused in major art institutions internationally and has become an object of academic study and research.In contemporary art, the title curator is given to a person who selects and often interprets works of art. In addition toselecting works, the curator often is responsible for writing labels, catalog essays, and other supporting content forthe exhibition. Such curators may be permanent staff members, be "guest curators" from an affiliated organization oruniversity, or be "freelance curators" working on a consultant basis. The late twentieth century saw an explosion ofartists organizing exhibitions. The artist-curator has a long tradition of influence. Notable among these was SirJoshua Reynolds, founder of the Royal Academy, London.In some American organizations, the term curator is also used to designate the head of any given division of acultural organization. This has led to the proliferation of titles such as "Curator of Education" and "Curator ofExhibitions". The term "literary curator" has been used to describe persons who work in the field of poetry, such asformer 92nd Street Y poetry director Karl Kirchwey.[1] This trend has increasingly been mirrored in the UnitedKingdom in such institutions as Ikon, Birmingham, UK and Baltic, Gateshead, UK.

Curator 38

In Australia and New Zealand, the term is also applied to a person who prepares a sports ground for use (especially acricket ground)[2] This job is equivalent to that of groundsman in some other cricketing nations.In France, the term curator is translated as conservateur. There are two kind of curators, Heritage curators(conservateurs du patrimoine) with five specialities (archeology, archives, museums, historical monuments, naturalscience museums), and Librarian curators (conservateurs des bibliothèques). These curators are in public service,selected by competitive exam, the use of the title curator by private workers remains unofficial.

Education and trainingCurators generally hold a higher academic degree in their subject, typically a Doctor of Philosophy or a master'sdegree in subjects such as history, history of art, archaeology, anthropology, or classics.[3] [4] [5] Curators are alsoexpected to have contributed to their academic field, for example, by delivering public talks, publishing articles orpresenting at specialist academic conferences.[3] It is important that curators have knowledge of the currentcollecting market for their area of expertise, and are aware of current ethical practices and laws that may impact theirorganisation's collecting.[6] [7]

Recently, the increased complexity of many museums and cultural organisations has prompted the emergence ofprofessional programmes in field such as public history, museum studies, arts management, and curating/curatorialpractice.[8] In 1992, the Royal College of Art established an MA course co-funded by the Royal College of Art andthe Arts Council of Great Britain, the first in Britain to specialise in curating with a particular focus on contemporaryart. The course is now funded by Arts Council England, and in 2001 the course title was amended to CuratingContemporary Art to more accurately reflect the content and primary focus of the programme.[9] Other institutionsthat run programs in curating include Kingston University; Goldsmiths College, University of London; Birkbeck,University of London; Chelsea College of Art and Design; California College of the Arts; Bard College; Universityof Rennes 2—Upper Brittany; Ontario College of Art and Design and The University of Melbourne. (See →Externallinks for further information on courses.)

References[1] Alix Friedman (June, 13, 2000). "POETRY CENTER DIRECTOR KARL KIRCHWEY LEAVES 92nd STREET Y" (http:/ / www. 92y. org/

content/ karl_kirchwey_leaves_poetry_center. asp). 92nd Street Y. . Retrieved 2010-10-15. "The 92nd Street Y announces the departure ofKarl Kirchwey, longtime director of the 92nd Street Y Unterberg Poetry Center. Mr. Kirchwey will become Director of Creative Writing andSenior Lecturer in the Arts at Bryn Mawr College starting next fall. The Poetry Center is a program of the 92nd Street Y Tisch Center for theArts, the Y's arts presenting division."

[2] http:/ / blogs. espncricinfo. com/ thebuzz/ archives/ 2010/ 12/ adelaide_curator_annoys_kp. php[3] Carly Chynoweth, How do I become a museum curator? (http:/ / www. timesonline. co. uk/ tol/ life_and_style/ education/ student/

how_to_get_a_job/ article989842. ece) 22 December 2006, Times Online[4] Valarie Kinkade, Day in the life: curator. (http:/ / www. aam-us. org/ pubs/ webexclusive/ kinkade. cfm) American Association of Museums[5] Stephanie A. Harper, How to become a museum curator. (http:/ / www. edubook. com/ how-to-become-a-museum-curator/ 8589/ ) 6 July

2009, Edubook[6] A code of ethics for curators. (http:/ / www. curcom. org/ _pdf/ code_ethics2009. pdf) 2009, American Association of Museums Curators

Committee[7] Combatting Illicit Trade: Due diligence guidelines for museums, libraries and archives on collecting and borrowing cultural material. (http:/

/ www. culture. gov. uk/ images/ publications/ Combating_Illicit_Trade05. pdf) October 2005, Department for Culture, Media and Sport[8] Niru Ratnam, Hang it all. (http:/ / www. guardian. co. uk/ theobserver/ 2003/ mar/ 09/ features. magazine47) 9 March 2003, The Observer[9] Curating contemporary art. (http:/ / www. cca. rca. ac. uk/ docs/ introduction/ index. htm) Royal College of Art

Curator 39

Further reading• Burcaw, G. (1997) Introduction to Museum Work, 3rd edition. Lanham, MD: Altamira Press. ISBN

978-0-761-98926-4• Bury, Stephen (2004) 21st Century Curatorship. In: 21st Century Curatorship, 22 July 2004, New York Public

Library, New York, U.S.A. (http:/ / sherpa. bl. uk/ 48/ )• Ferguson, B., Greenburg, R. and Nairne, S. (1996) Thinking About Exhibitions (http:/ / www. amazon. co. uk/ dp/

0415115906) ISBN 0415115906.• Glaser, J. and A. Zenetou. (1996) Museums: A Place to Work. Routledge. ISBN 978-0-415-12724-0• Lord, G. and B. Lord. (1997) The Manual of Museum Management. Lanham, MD: Altamira Press. ISBN

0-7591-0249-X• Marincola, P. (2002) Curating Now: Imaginative Practice/Public Responsibility (http:/ / www. amazon. co. uk/

dp/ 0970834608) ISBN 0970834608• Obrist, H. (2008) A Brief History of Curating (http:/ / www. amazon. co. uk/ dp/ 390582955X) ISBN

390582955X.• Rugg, J. and Segdwick, M (2007) Issues in Curating. Intellect. ISBN 978-1-84150-162-8• Richter, D. and Drabble, B (2007) Curating Critique. Revolver. ISBN 978-3-865884-51-0• Spalding, F. (1998) The Tate: A History (http:/ / www. amazon. co. uk/ dp/ 1854372319). Tate Publishing. ISBN

1854372319.• Sullivan, L. and Childs, S. (2003) Curating Archaological Collections (http:/ / www. amazon. co. uk/ dp/

0759100241) ISBN 0759100241.• Thea, C. (2009) On Curating: Interviews with Ten International Curators (http:/ / www. amazon. co. uk/ dp/

1935202006) ISBN 1935202006.

External links• 'Hang it all', article on contemporary curating and the rise of curating degrees (http:/ / www. guardian. co. uk/

theobserver/ 2003/ mar/ 09/ features. magazine47), the Observer newspaper, Sunday 9 March 2003.• 'Career Curating' article on curating contemporary design (http:/ / www. guardian. co. uk/ theguardian/ 2001/ jul/

14/ features. jobsmoney2), the Guardian newspaper, Saturday 14 July 2001.• California College of the Arts (http:/ / www. cca. edu/ academics/ graduate/ curatorialpractice/ )• Critical Curatorial Cybermedia - Geneva Switzerland (http:/ / www. ccc-programme. org)• CRUMB (http:/ / www. crumbweb. org) - Curatorial Resource for Upstart Media Bliss• International Curators Program / Antwerp (http:/ / www. icpa. be)• The Exhibitionists (http:/ / www. liverpoolmuseums. org. uk/ nof/ maths/ ) — geared towards children, an

interactive guide to how an exhibition is put together• Tate staff preparations for the Turner Prize 2008 (blog) (http:/ / blog. tate. org. uk/ turnerprize2008/ ?cat=5), Tate,

UK.• UMsystem.edu (http:/ / www. umsystem. edu/ ums/ curators/ ) - University of Missouri Board of Curators• Interview with Agustín Pérez-Rubio, current director and former chief curator of the MUSAC (http:/ /

studiobanana. tv/ 2009/ 08/ 13/ sbtv-interviews-agustin-perez-rubio/ )• Exhibition Design & Management, Department for Image Science, Danube University Krems (http:/ / www.

donau-uni. ac. at/ exhibit/ )• Master of Art Curatorship, The University of Melbourne (http:/ / graduate. arts. unimelb. edu. au/ cm/

master-of-art-curatorship. html)

Endowment invasion 40

Endowment invasionEndowment invasion is when an institution uses the financial endowment to pay off debts and cover the yearlyoperating expenses. In New York the practice requires approval from the state attorney general’s office and the NewYork State Supreme Court; by 2009, however, most states have adopted UPMIFA[1] , a law which allows "invadingprincipal." It is considered a last resort for any institution to stave off closure.[2]

Examples• From 2003 to 2009 New York City Opera drew down their endowment from $57 million to $16 million to pay off

debts and cover annual operating expenses.[2]

• In the 1980s the New-York Historical Society began using money from the their endowment to pay their annualoperating costs and cover their salaries to the point where by 1988 they had only enough money in theirendowment to pay for another 18 months of operating expenses.[3] [4]

References[1] UPMIFA. http:/ / www. upmifa. org. Retrieved 2009-07-09.[2] Pogrebin, Robin (June 17, 2009). "City Opera Tries to Hold Off the Ultimate Finale" (http:/ / nytimes. com/ 2009/ 06/ 18/ arts/ music/ 18city.

html). New York Times. . Retrieved 2009-06-18. "During Ms. Baker’s tenure, City Opera has raided its endowment — which now stands at$16 million, down from $57 million when she was appointed in December 2003 — to pay off debts and cover operating expenses. Thepractice, known as endowment invasion, requires approval from the state attorney general’s office and the State Supreme Court, and is widelyconsidered a last resort for any arts institution."

[3] McGill, Douglas C. (November 30, 1988). "Historical Society Reshaping Itself for Survival" (http:/ / www. nytimes. com/ 1988/ 11/ 30/ arts/historical-society-reshaping-itself-for-survival. html?pagewanted=all). New York Times. . Retrieved 2009-06-18. "Last January, after manyyears of using money from the society's endowment to pay for yearly operating deficits, the trustees determined that the endowment haddwindled to the point where the institution would be bankrupt in 18 months."

[4] McGill, Douglas C. (August 28, 1988). "Troubled Museums Try to Master the Fine Art of Survival" (http:/ / www. nytimes. com/ 1988/ 08/28/ weekinreview/ the-region-troubled-museums-try-to-master-the-fine-art-of-survival. html). New York Times. . Retrieved 2009-06-24. "Inrecent weeks, the New-York Historical Society, which for years had used money from its endowment and from a few wealthy trustees andpatrons to compensate for growing annual deficits, finally reached ..."

41

Financial considerations

Art financeArt finance and Art finance advisory are terms referring to a set of financial services provided by some auctionhouses, banks, and consulting firms, and marketed to such firms' clients who are art collectors or artists.

GenerallyArt finance can refer to both• acquiring art works by financing them rather than buying them outright, and• collateralizing a loan with art works and related property.Firms offering such services differ in the range of services provided, but can include art purchase financing, artsecured lending, art insurance, art appraisal, provenance verification, market research, curatorial services, artinvestment advice, and personal shopping services.[1]

Art loansArt loans may be made for many reasons, some of which may include advances against art not yet produced (usuallymade to artists of some repute), advances against items to be auctioned or otherwise sold (known as a bridge loan tosale, a type of bridge loan), to finance new purchases (known as acquisition financing and similar to a mortgage),and loans to assist dealers amass inventory (known as a working capital line of credit).[2]

In the difficult economic climate of 2009, some banks previously offering such services discontinued them. UBS, theworld’s biggest wealth manager and sponsor of Art Basel, announced in April, 2009 that it would close its11-year-old art advisory division.[3] In contrast, some start-up art financiers have stepped into the vacuum created bythe departing banks, such as former corporate raider Asher Edelman, with unique and legally-untested methods ofauction guarantees.[4]

In September 2008 the Museum of American Finance held a panel discussion on financing to support artacquisitions.[5]

High-profile art financeIn late July 2009, the New York Times reported that the art finance firm Art Capital Group sued photographer AnnieLeibovitz in the New York State Supreme Court for non-payment on a $24 million dollar loan, seeking damagesthrough access to her home, negatives, and all her intellectual property rights in her photographs.[6] [7] In March,2010, Colony Capital concluded a new financing and marketing agreement with Leibovitz, paying off Art Capitaland removing or reducing the risks of Leibovitz losing her artistic and real estate assets.[8]

Art finance 42

CriticismIt has been noted that art lending practices can contribute to and enable art crime by acting as a form of privatebanking for the art world and as such, suffer from a lack of transparency and encourage high risk borrowingbehavior, as occurred with Leibovitz.[9] Iain Robertson of Sotheby's Institute wrote "the art market's often covert andsecretive buying and selling practices do encourage or at least permit high levels of criminal behavior."[10]

References[1] Thompson and McAndrew, The Collateral Value of Fine Art, Journal of Banking and Finance, Jan 2006. (http:/ / papers. ssrn. com/ sol3/

Delivery. cfm/ SSRN_ID878385_code542089. pdf?abstractid=878385& mirid=1)[2] Art Radar Asia, " Art loans can offer liquidity to your collection (http:/ / artradarasia. wordpress. com/ 2009/ 11/ 04/

art-loans-can-offer-liquidity-to-your-collection/ )", 11/4/2009 blog post.[3] Bandel, UBS, Art Basel Sponsor, Will Close Swiss Art Division, Bloomberg, April 1, 2009. (http:/ / www. bloomberg. com/ apps/

news?pid=20601120& sid=ays. nzTqcgPY& refer=muse)[4] Crow, The Art World's Gordon Gekko (http:/ / online. wsj. com/ article/ SB10001424052748704094304575029583894223908.

html?mod=WSJ_article_MoreIn), The Wall Street Journal, February 5, 2010.[5] Banking on Art, MOAF, September 24, 2008. 54 minute Video available online (http:/ / www. moaf. org/ resources/ media/ video/

banking_art)[6] Salkin, Allen, Lender Sues Annie Leibovitz, The New York Times, July 30, 2009. (http:/ / cityroom. blogs. nytimes. com/ 2009/ 07/ 30/

lender-sues-annie-leibovitz/ )[7] Salkin, Allen, For Annie Leibovitz, a Fuzzy Financial Picture, The New York Times, July 31, 2009. (http:/ / www. nytimes. com/ 2009/ 08/

02/ fashion/ 02annie. html?_r=2& pagewanted=all)[8] "Private equity firm snaps up chance to help Leibovitz put house in order" (http:/ / www. ft. com/ cms/ s/ 0/

8f5c62fe-2b1a-11df-93d8-00144feabdc0. html?nclick_check=1) by Henny Sender, Financial Times, March 9 2010 02:00, Retrieved2010-03-09.

[9] Sebesky, Elizabeth, The Art Market: How Lending Fuels Art Crime (http:/ / art-crime. blogspot. com/ 2009/ 06/art-market-how-lending-fuels-art-crime. html), ARCA, June 2, 2009.

[10] Robertson, Iain, The Art Business, Routledge, 2008, ISBN 978-0-415-39158-0; and Robertson, Iain, Understanding International ArtMarkets and Management, Routledge, 2005, ISBN 978-0-415-33957-5.

Art valuation 43

Art valuation

An art auction at Christies

An art curator, Anne Pontégnie

Art valuation, an art-specific subset offinancial valuation, is the process ofestimating the potential market valueof works of art and as such is more of afinancial rather than an aestheticconcern, however, subjective views ofcultural value play a part as well. Artvaluation involves comparing datafrom multiple sources such as artauction houses, private and corporatecollectors, curators, art dealeractivities, gallerists (gallery owners),experienced consultants, andspecialized market analysts to arrive ata value. Art valuation is accomplishednot only for collection, investment,divestment, and financing purposes,but as part of estate valuations, forcharitable contributions, for taxplanning, insurance, and loan collateralpurposes.[1]

Historic valuation andcontemporary art

The source of a work's artisticcharisma has long been debatedbetween artists who create and patronswho enable, but the charismatic powerof artworks on those who wouldpossess them is historically the initialdriver of value.[2] [3] In the 1960's that charismatic power started edging over to accommodate commercializedculture and a new industry of art, where aesthetic value fell from prominence to parity with Pop art and AndyWarhol's idea of business art, a recognition that art has become a business and making money in business is an art.[4]

[5] One of many artists to follow Warhol is Jeff Koons,

Art valuation 44

An art collector

An art opening

a stockbroker turned artist who alsoborrowed imagery from popularculture and made millions.[6] [7]

For collectors, the emotionalconnection felt toward a work orcollection creates subjective personalvalue.[8] The weight assigned by sucha collector to that subjective measureas a portion of a work's overallfinancial value may be greater thanthat by an art speculator not sharing thecollector's emotional investment,however, non-economic valuemeasures such as "Do I like it?" or"Does it speak to me?" still haveeconomic effect because suchmeasures can be deciding factors in apurchase.[9]

The art market economicmodel

The art market operates in aneconomic model that considers morethan supply and demand: is a hybridtype of prediction market where art isbought and sold for values based notonly on a work's perceived culturalvalue, but on both its past monetaryvalue as well as its predicted futurevalue. The market has been describedas one where producers don't makework primarily for sale, where buyersoften have no idea of the value of whatthey buy, and where middlemenroutinely claim reimbursement forsales of things they've never seen to buyers they've never dealt with.[10]

Market size

Unlike the volumes in the securities market where millions of people and firms participate in buying and sellingfinancial interests or the commodities

Art valuation 45

An art dealer

An art exhibition

market where measures of raw orprimary products are exchanged usingstandardized contracts, art marketactivity largely follows the demands ofa more limited array of privatecollectors, museums, and largecorporate interests as the principalmarket participants.[11] Becauseoriginal artworks are not fungible likestocks, they have valuation challengesnot similarly affecting securities.[12]

Thus, because the art market'sparticipants are far more limited innumber than the securities orcommodities markets, becauseartworks are not fungible, and becauseart valuation relies to a great extent onthe advice and enthusiasm of a varietyof specialized market analysts, theselimitations each in turn dictate the sizeof the market and increase the risk thatsome items may be over orundervalued.

Market timing

The art market moves in cycles withactivity generally peaking in the springand autumn when the major auctionhouses traditionally schedule auctions,and results in the market beingseasonal rather than ongoing.[13] Whileprivate sales take place all year, thosesales are often not publicized asauctions are and thus do not affect themarket until they become known.

Art valuations made for an autumnauction may be unrealistic for thefollowing spring auction seasonbecause fortunes in the financialmarkets during one season can affectthe art market in the following season.Volatility in the financial markets often causes volatility in the art market as happened in the contraction of the art

Art valuation 46

An art gallery

An art fair

market during the 2008-2009 recessionwhen sales at Sotheby’s, Christie’s, andPhillips de Pury & Company were lessthan half the previous year: November2008, $803.3 million compared toNovember 2007, $1.75 billion; andbetween 2000 and 2003 when theannual volume of art works sold atauction dropped 36%.[13] [14] In otherinstances, the art market can farereasonably well despite volatility in thestock market such as happened fromJanuary 1997 through May 2004 whenthe average quarterly fluctuation in theArtprice Global Index was two to threetimes smaller than the same statisticfor the Dow Jones IA and the S&P500.[13]

As art market participants' fortuneswax and wane in the financial markets,buying power evolves and affectsparticipants' ability to afford highlyvalued works, resulting in new buyersand sellers entering, leaving, orre-entering the market, and an artworksold to offset losses in the financialmarket might be sold for substantiallymore or substantially less than its lasthammer value at auction.[15] In the late1980s during the stock-market boom,the art market expanded in turn withprices soaring to new heights, and investment firms took a greater interest in the art market and began to study itin-depth.[16] [17] Concurrently, the previously non-transparent art market became more accessible via the increasingavailability of indices and online data[9] although researchers discovered biased price estimates in the auctionhouses.[18]

Art also sometimes has transient fashionability that can affect its value: what sells well for a time may be

Art valuation 47

An art studio visit

supplanted in the market by new stylesand ideas in short order. For instance,in the spring of 2008 a collectoroffered over $80 million for JeffKoons' stainless-steel Rabbit and yet ayear later, of four works in the fallauctions at Christie's and Sotheby's inNew York, only two of his pieces soldwell and one failed to sell entirely.[7]

In 2011, Christie's sold Koons' BalloonFlower sculpture for $16.9 million.[19]

Primary and secondarymarkets

The art market as a whole is affectedby its two main parts: the primary artmarket, where new art comes to themarket for the first time, and thesecondary market, for existing art that has been sold at least once before. Once a work is sold on the primary marketit enters the secondary market, and the prices for which it sold in the primary market have a direct bearing on thework's value in the secondary market. Supply and demand affect the secondary market more than the primary marketbecause works new to the market, mainly contemporary art, have no market history for predictive analysis and thusvaluation of such work is more difficult, and more speculative.[20] Gallery, dealer, consultant, and agent promotionas well as collectors acting as alpha consumers (trend-setters) are the forces at work in valuing primary marketworks.

Market entry barriersAs with blue-chip stocks, works by "blue-chip" or well-known artists are generally valued more highly than worksby unknown artists since it is hard to predict how an unknown artist's work will sell, or whether it will sell at all.High barriers to market entry for artists[3] [21] create scarcity in the supply and demand portion of the market, in turndriving up prices and raising questions of efficiency.[22] [23] While a high market entry barrier may result in having asmaller pool of artwork producers in the auction-level portion of the market, and in greater market predictability byvirtue of that smaller pool and thus more reliable valuation measures, its axiomatic effect is of lesser artistic diversitynegatively impacting the size of the buyer pool.[24] For this reason, gallerists and art dealers consider what types ofworks are currently in vogue before deciding to represent a new artist and are highly selective in those choices inorder to maintain a level of quality that is saleable. All these concerns are in play when gallerists set prices foremerging artists at a much lower level than for established artists.

Market transparencyWith the late-2000s financial crisis, the art market faced criticism for its lack of transparency, its Byzantine valuation methods, and a perceived lack of ethical behavior enabled by structural inadequacies in the market itself. In response, a 2009 debate occurred between valuation-setting members of the art market on the proposition that "the art market is less ethical than the stock market". At the end of the debate the audience determined that those debating in agreement with the proposition won the debate.[25] Of particular note in the debate was the identification of "chandelier bidding" as a practice perceived as ethically questionable. The debaters described "chandelier bidding" as bids from the chandelier, or bids from an unknown source, meaning the bidding by the auction houses on behalf

Art valuation 48

of the sellers whose items the houses are auctioning, and by unidentified bidders having no intention of buying butbidding in order to drive prices up, all practiced because the auction houses keep secret from bidders a seller'sreserve price.In 2011, also in response to criticism on the lack of market transparency and counterarguments that moretransparency would ruin the market,[26] The Art Newspaper in association with the Art Dealers Association ofAmerica convened an Art Industry Summit panel discussion between major art market decision makers wherepanelists discussed whether there was a need for more transparency.[27] The panelists argued over whether auctionhouses have built-in conflicts of interest by representing sellers with secret reserves while at the same timerepresenting to buyers initial valuations on those works at auction time. The debate also included the issue of firstand third-party guaranteed bids, and whether sellers' reserve prices should be disclosed so that participants no longerbid on an object they have no chance of buying. In response to criticisms regarding chandelier bidding andunidentified third-party guaranteed bids, Christie's International chairman Edward Dolman countered that without asecret reserve, illegal cartels of bidders would know in advance information that could facilitate their manipulationof the market and corruption of final valuation by selling price at auction.[28]

Valuing ArtArt valuation activity concerns itself with estimating market demand, estimating liquidity capability of lots, works,and artists, the condition and provenance of works, and with valuation trends such as average sale price and meanestimates.[29] As with other markets, the art market uses its own industry-specific terms of art or vocabulary, forexample, "bought-in", describing the disadvantageous situation occurring when a work or lot at auction is returned toits owner having been passed over, withdrawn or otherwise unsold.[30]

Market demandAs in the housing market, "comparables" are used to determine what level of demand similar items have in a currentmarket. The freshness of the comparables is important because the art market is fluid and stale comparables willyield estimates that may have little relation to a work's current value.[8] Subject matter and the medium of a workalso affect market demand, as does rarity.

LiquidityLiquidity in the art market means having artworks in very high demand and being able to sell those works withoutimpediment. Art sales slow in downturns resulting in the market becoming more illiquid. There is a greater degree ofliquidity risk facing the art investor than with other financial assets because there is a limited pool of potentialbuyers, and with artworks not reaching their reserve prices and not being sold, this has an effect on the auctionprices.[9]

Valuation trendsTrends for values from the world's top auction houses are compared for study of market direction and how thatdirection affects given artists and works.[31] [32] Valuations for art sold at the market's top houses usually carry moreweight than valuations from less established houses, as most of the top houses have hundreds of years ofexperience.[32] [33]

Participant activityOne of many factors in the primary market's price of a living artist's work is a dealer's contract with an artist: many dealers, as stakeholders in their artists' success, agree to buy their own stable of artists' work at auction in order to prevent price drops, to maintain price stability, or to increase perceived value, or all three, thus dealers bidding on

Art valuation 49

their own artists at auction have a direct impact on the selling price for those artists' works and as a result, thevaluation of those works.[34] [35]

Research dataResearch data available from art auction houses such as Christie's, Sotheby's, Phillips de Pury & Company,Bonhams, and Lyon & Turnbull are those tracking market trends such as yearly lot transactions, bought-in statistics,sales volume, price levels, and pre-auction estimates.[36] There are also companies such as ArtTactic andArtprice[37] utilizing art auction data as providers of art market research analysis.[38] Information available frominternet-based art sale history databases generally does not include the condition of a work, a very importantfactor,[8] therefore the prices quoted in those databases reflect auction hammer price without other, crucial valuationfactors. Additionally, the databases of auctioned work do not cover private sales of works, and thus their use for artvaluation is but one source among many needed for determining value.[9]

General valuation factorsValuation estimates are given in ranges of prices to offset uncertainty. Generally, estimates are made by looking atwhat a comparable piece of art sold for recently, with estimates given in a range of prices rather than one fixedfigure,[39] and in the case of contemporary art especially, having few comparables or when an artist is not wellknown and has no auction history, the risks of incorrect valuation are greatest.Also factored into a valuation are the seller's reasons for selling a particular work and the buyer's reasons for buying,neither of which may have anything to do with the other. For example, a seller may be motivated by financial need,boredom with a particular artwork, or the desire to raise funds for a different purchase. Buyers may be motivated bymarket excitement, may be acting in accord with a collection plan, or buying like buyers of stock: to drive value upor down either for themselves or for another person.One method for pricing pieces by new artists of uncertain value is to ignore aesthetics and consider, besides markettrends, three semi-commoditized aspects: "scale" - size and level of detail, "intensity" - effort, and "medium" -quality of the materials.[40]

Valuing artworks in such a specialized market, therefore, takes into account a wide variety of factors, some indeed inconflict with each other.

Valuation for tax and other law-related purposesIn the United States, art bought and sold by collectors is treated as a capital asset for tax purposes,[41] and disputesrelating to the valuation of art or the nature of gain on its sale are often decided by the Tax Court and other courts.Important cases include Crispo Gallery v. Commissioner (need to produce credible documentary evidence ofvaluation as taxpayer has ultimate burden of persuasion),[42] Angell v. Commissioner (fraud perpetuated upon theIRS through inflated appraisals),[43] Drummond v. Commissioner (cannot claim gain from art sale as income frombusiness unless actually in the business),[44] Estate of Querbach v. A & B Appraisal Serv. (appraiser's liability formisidentifying a painting),[45] Estate of Robert Scull v. Commissioner (previous sales of the same property withoutsubsequent events affecting value are generally strong indicators of fair market value),[46] Nataros v. Fine ArtsGallery of Scottsdale (in the absence of fraud or negligent misrepresentation, buyers believing they have overpaid atauction because of bad advice bear a heavy burden of proof),[47] Williford v. Commissioner (the 'Williford Factors'test: eight factors to determine whether property is held for investment or held for sale).[48]

Art valuation 50

References[1] See Christie's (http:/ / www. christies. com/ services/ valuations/ ) and Sotheby's (http:/ / www. sothebys. com/ help/ faq/ faq_beforeauction.

html#a04) descriptions of valuation.[2] Balfe, Judith, Ed., Paying the piper: causes and consequences of art patronage, Univ. of Illinois Press, 1993, p.307. ISBN 9780252063107.[3] Jeffri, Joan, Philanthropy and the American artist: A historical overview, The European Journal of Cultural Policy, 3(2), 2009, pp. 207-233.[4] Kuspit, Donald, Art Values or Money Values? (http:/ / www. artnet. com/ magazineus/ features/ kuspit/ kuspit3-6-07. asp), ARTnet.com,

2007-03-06.[5] Jeffri, Joan, Managing Uncertainty, The visual art market for contemporary art in the United States, in Robertson, Iain, Understanding

international art markets and management, Routledge, 2005, p. 127. ISBN 9780415339568.[6] Littlejohn, David, Who is Jeff Koons and Why Are People Saying Such Terrible Things About Him? Artnews, April 1993, p. 94.[7] Inflatable investments, The volatile art of Jeff Koons (http:/ / www. economist. com/ node/ 14941205), The Economist, 2009-11-26.[8] How to Value Art (http:/ / www. artnet. com/ auctions/ pages/ common/ help/ howtovalueart. aspx), artnet.com, retrieved 2011-11-21.[9] Campbell, R.A.J., Art as a Financial Investment (http:/ / papers. ssrn. com/ sol3/ Delivery. cfm/ SSRN_ID978467_code230208.

pdf?abstractid=978467& rulid=6936564& mirid=1), Erasmus Univ. Rotterdam, Maastricht Univ., 2007.[10] Plattner, Stuart, A Most Ingenious Paradox: The Market for Contemporary Fine Art (http:/ / www. stuartplattner. com/ AA-ART-Paradox.

pdf), American Anthropologist 100(2):482-493, 1998.[11] The art market sees itself as a microcosm: it lists its collectors in the hundreds, as opposed to the securities market which has millions of

participants. The Top Ten (http:/ / artnews. com/ issues/ article. asp?art_id=2536), The ARTnews 200 Top Collectors (http:/ / artnews. com/issues/ article. asp?art_id=2520)

[12] Baumol, William J., Unnatural Value: Or Art Investment as Floating Crap Game (http:/ / pchen. ccer. edu. cn/ homepage/RecommendPapers/ BaumolArts86. pdf), Journal of Arts Management and Law, Vol. 15, Iss. 3, 2010, pp. 10-14.

[13] Art Market Cycles (http:/ / www. artmarket. com/ ), artmarket.com, retrieved 2011-11-20.[14] Esterow, How to Buy in 2009 (http:/ / artnews. com/ issues/ article. asp?art_id=2642), ARTnews, March 2009.[15] Gerber, Primary Art Market Investments - A Safe Haven when All Else Suddenly Correlates? (http:/ / www. primeartfunds. com/

Downloads/ Working Copy _ State of the Primary Art Market _ Manuel Gerber _ nov08. pdf), Prime Art Management Ltd., published in ArtFund Tracker, Nov. 2008.

[16] Campbell, The Art of Portfolio Diversification (http:/ / i1. exhibit-e. com/ collectionofmodernart/ 39049d22. pdf), Maastricht University,March 2004. (art as an asset class)

[17] Goetzmann, William N., Accounting for Taste: Art and the Financial Markets Over Three Centuries, The American Economic Review,83(5), Dec. 1993, pp. 1370-1376.

[18] Mei, J. and Moses, M., Vested Interest and Biased Price Estimates: Evidence from an Auction Market (http:/ / pages. stern. nyu. edu/ ~jmei/estimates. pdf), The Journal of Finance, 60(5), 2005, pp. 2409-2435.

[19] Christie's, Auction result, Sale 2355 / Lot 23 (http:/ / www. christies. com/ lotfinder/ jeff-koons-balloon-flower/ 5371708/ lot/ lot_details.aspx?from=searchresults& intObjectID=5371708& sid=e5ce29ac-d2b6-41b6-9092-7aacf3e6974b), christies.com, retrieved 2011-11-21.

[20] Gerard and Louis, On pricing the priceless: Comments on the economics of the visual art market (http:/ / www. sciencedirect. com/ science/article/ B6V64-3YRSMF4-28/ 2/ 44fafa98be1c97504c5a1fdc722b55ba), European Economic Review, Elsevier, vol. 39(3-4), April 1995, pp.509-518. (membership required).

[21] Jackson, M.R., et al, Investing in Creativity: A study of the support structure for US artists (http:/ / www. urban. org/ UploadedPDF/411311_investing_in_creativity. pdf), The Journal of Arts Management, Law, and Society, 2004. PDF from Urban Institute, urban.org.

[22] Bonus, H., Ronte, D., Credibility and economic value in the visual arts, Journal of Cultural Economics 21, 1997 103–118.[23] Adler, M., Stardom and Talent (http:/ / www. columbia. edu/ ~ma820/ Stardom and Talent. pdf), in Handbook of the Economics of Art and

Culture, Vol. 1, Chap. 25, 2006, pp. 895-906.[24] Schönfeld and Reinstaller, The effects of gallery and artist reputation on prices in the primary market for art (http:/ / www. wu-wien. ac. at/

inst/ vw1/ papers/ wu-wp90. pdf), Working Paper, Department of Economics, Vienna University of Economics & B.A., May 2005.[25] Saltz, Jerry, Morality Play (http:/ / www. artnet. com/ magazineus/ features/ saltz/ saltz3-6-09. asp), artnet.com, 2009-03-06, discussing the

debate and its outcome. Participants included art dealers Richard Feigen and Michael Hue-Williams, collector Adam Lindemann on the "pro"side, and artist Chuck Close, critic Jerry Saltz, and auctioneer Amy Cappellazzo opposing. The debate video (http:/ / www. youtube. com/watch?v=xpsTNdYeG6U) is available on YouTube.

[26] Art Dealers Association of America (ADAA), Art Industry Summit (http:/ / www. artdealers. org/ events. forum30. html), Transparency inthe market: can we have more of it?, 2011-03-03.

[27] ADAA and The Art Newspaper, Transparency in the market...can we have more of it?, videos Part 1 (http:/ / www. theartnewspaper. tv/content. php?vid=1662), Part 2 (http:/ / www. theartnewspaper. tv/ content. php?vid=1661), and Part 3 (http:/ / www. theartnewspaper. tv/content. php?vid=1660), Host Anna Somers Cocks, The Art Newpapaper, 2011-03-11.

[28] ADAA, video 3 at 22:05 min, et seq..[29] See artnet.com's Market Trends FAQ (http:/ / www. artnet. com/ products/ mt_faq. asp).[30] Kendzulak, Susan, definition of " Bought-In (http:/ / fineart. about. com/ od/ Glossary_B/ g/ Bought-In. htm)", about.com.[31] Higgs, H. and Worthington, A., Financial Returns and Price Determinants in the Australian Art Market, 1973–2003 (http:/ / ro. uow. edu.

au/ cgi/ viewcontent. cgi?article=1016& context=commpapers), Economic Record, 81:113–123, 2005-06. doi:

Art valuation 51

10.1111/j.1475-4932.2005.00237.x[32] Worthington, AC and Higgs, H, A Note on Financial Risk, Return and Asset Pricing in Australian Modern and Contemporary Art (http:/ /

ro. uow. edu. au/ cgi/ viewcontent. cgi?article=1022& context=commpapers), Journal of Cultural Economics, 30(3), March 2006, 73-84.[33] Kendzulak, Susan, Top 11 Fine Art Auction Houses (http:/ / fineart. about. com/ od/ AuctionHouses/ tp/

Fine-Art-Auction-Houses-Established-Auction-Houses-For-The-Fine-Arts. htm), About.com, lists the top houses as:

1 & 2. Bonhams, and Bonhams & Butterfields (London, New York, Los Angeles, Sydney, Hong Kong, Dubai,and San Francisco)3. Christie's (London, Paris, Milan, New York, Hong Kong and Dubai)4. Dorotheum (Vienna, Brussels, Düsseldorf, Munich, Milan and Rome)5. Heritage Auctions (Dallas, Beverly Hills and New York)6. Phillips de Pury & Company (New York and London)7. Sotheby's (London, Hong Kong, Geneva, Milan, Paris, Zürich, New York, Toronto, Doha)8. Stockholms Auktionsverk (Stockholm)9. Tajan (Paris and Monaco)10. Villa Grisebach Auktionen (Berlin)11. Waddington's (Toronto)

[34] Castlestone Management, Major Structural Themes Influencing the Art Market (http:/ / i1. exhibit-e. com/ collectionofmodernart/ ce63a3fb.pdf), April 2009.

[35] Thornton, Sarah, The reinvention of artist Damien Hirst (http:/ / web. archive. org/ web/ 20110615112418/ http:/ / entertainment.timesonline. co. uk/ tol/ arts_and_entertainment/ visual_arts/ article6857843. ece), The Sunday Times, 2009-10-04, Retrieved 2011-11-23.

[36] For an example see artnet.com's sample report: Market Performance Report for Piet Mondian (http:/ / www. artnet. com/ products/MT_sample. pdf).

[37] http:/ / web. artprice. com/ corporate/ EN/[38] For example, arttactic's monthly Rawfacts newsletter (http:/ / www. arttactic. com/ newsletters. php).[39] de Pury, Simon, FAQ #13 (http:/ / web. archive. org/ web/ 20110715074548/ http:/ / www. phillipsartexpert. com/ ask_simon/ ).[40] "Why A Dead Shark Costs $12 Million" (http:/ / www. npr. org/ templates/ transcript/ transcript. php?storyId=128084948). 2010-06-25. .

Retrieved 2010-07-27.[41] 26 U.S.C. § 1221. Capital asset defined.[42] Andrew Crispo Gallery, Inc. v. Commissioner (http:/ / openjurist. org/ 86/ f3d/ 42/

andrew-crispo-gallery-inc-v-commissioner-of-internal-revenue), 86 F.3d 42 1996 affg. T.C. Memo. 1992-106.[43] Angell v. Commissioner (http:/ / www. regulations. gov/ fdmspublic/ ContentViewer?objectId=09000064806dfc03&

disposition=attachment& contentType=msw8)DOC, T.C. Memo 1986-528, aff'd 861 F.2d 723 (7th Cir. 1988).[44] Drummond v. Commissioner (http:/ / sc. findacase. com/ research/ wfrmDocViewer. aspx/ xq/ fac. \C04\PLS\1998\19980715_1825. C04.

htm/ qx), 155 F.3d 558 (4th Cir.) 1998; and at vlex.com (http:/ / vlex. com/ vid/ drummond-v-commissioner-irs-18181935).[45] Estate of Querbach v. A & B Appraisal Serv., No.L-089362-85 Supr. Ct N.J., Bergen County, 1987 cited in Orenstein, Show Me the Monet:

the Suitability of Product Disparagement to Art Experts (http:/ / www. law. gmu. edu/ assets/ subsites/ gmulawreview/ files/ 13-4/ documents/Orenstein. pdf), George Mason Law Review, Vol. 13:4 2005, p. 917 fn. 66.

[46] Estate of Scull v. Commissioner, T.C. Memo. 1994-211 as cited by Walford v. Commissioner, No. 6506-86 (2003).[47] Nataros v. Fine Arts Gallery of Scottsdale (http:/ / www. artinfo. com/ news/ story/ 30041/ when-ishmael-called/ ?page=2), 126 Ariz. 44,

612 P.2d 500 (Ct.App.1980).[48] Williford v. Commissioner, 64 T.C.M. (CCH) 422 (1992) fn. 13. The eight factors are: (1) frequency and regularity of sales; (2) the

substantiality of sales; (3) the duration the property was held; (4) the nature of the taxpayer's business and the extent to which the taxpayersegregated the collection from his or her business inventory; (5) the purpose for acquiring and holding the property before sale; (6) the extentof the taxpayer's sales efforts by advertising or otherwise; (7) the time and effort the taxpayer dedicated to the sales; and (8) how the salesproceeds were used.

Art valuation 52

External resources• Blaug, Mark, Where Are We Now on Cultural Economics?, Journal of Economic Surveys, 15(2), 2001, pp.

123-43.• Dunbier, Fine Art Comparables, tfaoi.org, Part 1 (http:/ / www. tfaoi. org/ articles/ rd4. htm) and Part 2 (http:/ /

www. tfaoi. org/ articles/ rd5. htm).• The Dunbier System & ENCompass 22,000 Artist Directory (http:/ / www. arlisna. org/ artdoc/ vol18/ iss2/ 04.

pdf), an early computerized valuation method no longer updated.• Gerzog, Valuing Art in an Estate (http:/ / papers. ssrn. com/ sol3/ Delivery. cfm/ SSRN_ID1028366_code243167.

pdf?abstractid=1028366& mirid=1), Tax Analysts, Tax Notes, Vol. 117, Nov. 5, 2007.• Fitz Gibbon, From Prints to Posters: The Production of Artistic Value in a Popular Art World (http:/ / caliber.

ucpress. net/ doi/ abs/ 10. 1525/ si. 1987. 10. 1. 111), Symbolic Interaction, Spring 1987, Vol. 10, No. 1, Pages111–128 , DOI 10.1525/si.1987.10.1.111 (subscription).

• Marshall & Chisti, An Exploration of the Relationships of Physical Features of Art Works to Art Valuations andSelling Prices in Fundraising (http:/ / www. una. edu/ sobie/ proc2006. pdf), Society of Business, Industry andEconomics, Proceedings 2006, p. 81.

• Thompson and McAndrew, The Collateral Value of Fine Art (http:/ / papers. ssrn. com/ sol3/ Delivery. cfm/SSRN_ID878385_code542089. pdf?abstractid=878385& mirid=1), Journal of Banking and Finance, Jan 2006.

• International Foundation for Art Research IFAR's overview of case law on valuation in the U.S. (http:/ / www.ifar. org/ case_law. php?ID=60).

• Role of critics: Cameron, S., On the role of critics in the culture industry, Journal of Cultural Economics, 19(4),1995-12-01, pp. 321-331, Springer ISSN: 0885-2545, Doi: 10.1007/BF01073994 (subscription).

• Art market news and information:• Artfacts (http:/ / www. artfacts. net/ )• Artinfo searchable Sale Index (http:/ / artsalesindex. artinfo. com/ artsalesindex/ asi), and art market news

(http:/ / www. artinfo. com/ artmarket/ )• Artnet News (http:/ / www. artnet. com/ magazineus/ news/ news. asp)• ARTnews (http:/ / artnews. com/ ) (magazine)• Artprice.com's sample estimate (http:/ / web. artprice. com/ html/ en/ estimate. htm)• ArtTactic (http:/ / www. arttactic. com/ )• AskART.com (http:/ / www. askart. com/ ) (oriented toward American art)• The Mei Moses Fine Art Index (http:/ / www. artasanasset. com/ main/ )

• From the perspective of a well-known art educator, Michael Moses, co-founder of the Mei Moses Art Index,discusses in two podcasts how art has performed on a historical basis in comparison with securities. Part 1 (http:/ /www. arttactic. com/ podcast. php?id=6) and Part 2 (http:/ / www. arttactic. com/ podcast. php?id=9). ArtTactic.

Blockage discount 53

Blockage discountBlockage discount is an art-business-related and legal term of art for referring to the money discount assigned to agroup of artworks by a single artist when that group of works is to be released to market as a group rather thanindividually. A blockage discount adjusts the fair market value of the works downward because of the risks ofdepreciation when a large volume of art is released into the market all at once.[1] [2] [3]

A blockage discount adjusting fair market value also affects the tax consequences of a sale in the U.S., and isfrequently a subject of litigation when an artist dies while holding a large collection of her or his own work. Forinstance, when Georgia O'Keeffe died she had over 400 of her own works in her estate, and when Andy Warhol diedhe had over 90,000 works, including 4,100 paintings, 9,000 drawings, 19,000 prints and 63,000 photographs.[4] InGeorgia O'Keeffe's case, her estate's appraisers established blockage discounts based on solid evidence of marketsales, but the IRS used its own valuation and the Tax Court assessed a resulting tax of more than the valuation of thecollected works at her death.[5] In Andy Warhol's case Surrogate Court of New York rejected the proposed discountsof Christe's, which averaged 60%. Instead, the court applied an average discount of 25%. The court failed toarticulate the specific rationale for it's determination, but did state that Warhol was more famous than Smith &O'Keeffe. The court's application of an average discount of 25% has been criticized by attorneys and appraisersbecause , inter alia, it ignored the necessary time it would take to sell 90,000 pieces of art. [6] Therefore, accountantsand estate planners for artists plan with such eventualities in mind.[7]

The IRS has stated that carrying costs and opportunity costs are relevant factors for consideration in blockagediscounts, along with time to market.[8]

References[1] In re Warhol, No. 824/87, 1994 WL 245246 * 1 (Surr. Ct., N.Y. Co. 1994).[2] Grosz v. Serge Sabarsky, Inc. (http:/ / www. lexisone. com/ lx1/ caselaw/ freecaselaw?action=OCLDisplayLanding& format=FULL&

sourceID=bcfbd& searchTerm=eIWY. ggXa. aadj. ecHc& searchFlag=y& l1loc=FCLOW), 24 A.D.3d 264, 806 N.Y.S.2d 498, 500 (1st Dep’t2005).

[3] Lerner and Bresler, Art Law: The Guide for Collectors, Investors, Dealers, and Artists (http:/ / books. google. com/books?id=qSInf61-xaUC& pg=PA1157& vq=blockage+ discount& dq=blockage+ discount+ art& source=gbs_search_s& cad=0), PractisingLaw Institute, 1998, p.1157 et seq.. (ISBN 978-1402406508 3d edition)

[4] Inde, Vilis, Art in the Courtroom, Praeger, 1998, p. 158. ISBN 978-0275959715[5] Establishing a Value is Important! (http:/ / www. pgdc. com/ pgdc/ article/ 2004/ 05/ establishing-value-important), Planned Giving Design

Center, LLC. 2009.[6] Inde, Vilis, Art in the Courtroom, Praeger, 1998[7] Englebrecht, Valuation of Art Objects for Estate Tax Purposes (http:/ / www. nysscpa. org/ cpajournal/ 2002/ 0902/ features/ f094002. htm),

The CPA Journal, 09/02/2002.[8] Lerner and Bresler, pp. 1354, 1364.

External resourcesWadler, The Heirs of George Grosz Battle His Dealer's Ghost; A Protracted Lawsuit Outlives Its Target, But Not ItsAnger (http:/ / www. nytimes. com/ 2001/ 08/ 27/ arts/heirs-george-grosz-battle-his-dealer-s-ghost-protracted-lawsuit-outlives-its. html), The New York Times, August 27,2001.

54

Cooperative arrangements and non-profits

Artist cooperativeAn artist cooperative (also co-operative or co-op) is an autonomous visual arts organization, enterprise, orassociation jointly-owned and democratically-controlled by its members.[1] Artist cooperatives are legal entitiesorganized as non-capital stock corporations, non-profit organizations, or unincorporated associations. Suchcooperatives typically provide professional facilities and services for its artist-members, including studios,workshops, equipment, exhibition galleries, and educational resources.[2] By design, all economic and non-economicbenefits and liabilities of the cooperative are shared equally among its members. Cooperative members elect theirboard of director from within the membership.[3]

Notes[1] International Co-operative Alliance Statement on the Co-operative Identity (http:/ / www. ica. coop/ coop/ principles. html).[2] Small Farm Center, University of California (http:/ / www. sfc. ucdavis. edu/ cooperatives/ whatis. html#arts).[3] National Cooperative Business Association (http:/ / www. ncba. coop/ abcoop. cfm).

References• "International Artists Cooperative Forms and Launches Web Site." Art Business News (http:/ / findarticles. com/

p/ articles/ mi_m0HMU/ is_11_28/ ai_80192151) November 2001.

External links• International Co-operative Alliance, Geneva, Switzerland website (http:/ / www. ica. coop/ al-ica/ )• The Cooperative Foundation, St. Paul, Minnesota website (http:/ / www. thecooperativefoundation. org/ index.

html)• University of Wisconsin, Madison, Center for Cooperatives website (http:/ / www. uwcc. wisc. edu/ )• University College Cork, Ireland, Centre for Co-operative Studies website (http:/ / www. ucc. ie/ en/ ccs/ )• Small Farm Center, University of California website (http:/ / www. sfc. ucdavis. edu/ cooperatives/ whatis.

html#arts)• Mutant space arts resource, Cork, Ireland website (http:/ / www. mutantspace. ie/ )

Artist-run space 55

Artist-run spaceAn artist-run space is a gallery space run by artists, thus circumventing the structures of public and privategalleries.Artist-run spaces have become realised as an important factor in urban regeneration. This effect was particularlystrong in Glasgow, where the city won the accolade 'European Capital of Culture' in 1990, largely due to the largenumber of artist-run exhibition spaces and galleries.[1] Curator Hans Ulrich Obrist coined the term "The GlasgowMiracle" to describe this.Examples of artist-run spaces include City Racing, BANK, studio1.1 [2] Studio Voltaire, Cubitt and Auto ItaliaSouth East in London, Milwaukee's BATHAS Internationale, Berlin's Sparwasser HQ , island6 in Shanghai, VitaminCreative Space in Guangzhou, 16 Beaver (New York), Good Children (New Orleans), Mercer Union and YYZArtists' Outlet (Toronto), p-10 (Singapore), Southern Exposure (San Francisco), Transmission Gallery and MarketGallery in Glasgow, The Embassy Gallery [3] and Total Kunst in Edinburgh, Generator Projects in Dundee,OUTPOST Gallery and STEW [4] Gallery & Artist Studios in Norwich. In the last years many artist-run spacesstarted opening in South America, mostly in Brazil and Argentina, an example being APPETITE Gallery [5] inBuenos Aires.In 2005 Seattle-based SOIL Publications released SOIL: Artist-Run Gallery 1995-2005, edited by Yuki Nakamura.This collection of critical essays, features on past exhibitions and profiles of artists documents ten years in therunning of an artist-run space.

New York CityDuring the 1950s in Manhattan, artist-run co-ops became the alternative to the uptown Madison Avenue galleriesthat catered mostly to wealthy blue-chip and European art-oriented collectors. From the early 1950s to the early1960s the Tenth Street galleries located mostly in the East Village in lower Manhattan became the proving groundfor much of the contemporary art that achieved popularity and commercial success in the decades that followed.During the 1960s the Park Place Gallery became the first important contemporary gallery in SoHo.[6] Park Placegallery was an artist-run cooperative that featured cutting-edge Geometric abstraction.[7] Eventually by the 1970sSoHo became the new center for the New York art world as hundreds of commercial galleries opened in a suddenwave of artistic prosperity.[8]

Pierogi 2000, in Williamsburg, Brooklyn, is run by artist Joe Amrhein. The gallery puts on traditional exhibitionsand also presents works on paper in an extensive system of flat files. Viewers can look through hundreds ofindividual artists’ portfolios of works on paper contained within the flat file drawers. These files travel for exhibitionat other venues in the United States and abroad.Momenta Art is an artist-run nonprofit institution also in Williamsburg. Momenta Art shows work by emergingartists that are not well represented in commercial galleries. It has an annual fundraiser which is a benefit groupexhibition and raffle. The fundraiser has been hosted regularly by White Columns, another non-profit organizationdedicated to supporting emerging artists.MINUS SPACE is an artist-run curatorial project devoted to reductive art. Minus Space maintains an exhibitionspace in Brooklyn and curates exhibitions at other venues nationally and internationally. Minus Space also has alocation on the Internet enabling it to collaborate with other institutions.[9] The website has a running log of relatedexhibitions and a chronology documenting the development of reductive and concept-based art.Manhattan Graphics Center (MGC), located in the West Village, is run by artist volunteers and offers artistsprintmaking studios and classes. In a cooperative system artists can also use the facility in exchange foradministrative work. Manhattan Graphics Center also exhibits the work of artists who have used the facility.

Artist-run space 56

San FranciscoThe Kitsch Gallery is an artist-run space located in San Francisco's Mission District. It was founded in 2009 by threestudents, Nikki Mirsaeid, Taj Robinson, and Myrina Tunberg at the San Francisco Art Institute and University ofSan Francisco. Kitsch was voted Best New Warehouse Space of 2010 by SF Weekly.[10] Artists who have beenpresented or exhibited at Kitsch include Alex Braubach, Boyz IV Men, Ryan Coffey, Dean Dempsey, HenryGunderson, Greg Ito, Warren Thomas King, and Cal Volner-Dison.[11]

LondonCharles Thomson founded the Stuckism International Gallery in 2002 in Charlotte Road, Shoreditch, in a four-storyVictorian warehouse.[12] He said, "The main space was my living room. It had sofas and normal home lighting ...People could come in, sit down, maybe have a cup of tea".[13] The last show there was in 2004.[14]

The Transition Gallery was founded in October 2002 in a converted garage close to Victoria Park, Hackney, London,and is run by artists Cathy Lomax and Alex Michon to show work by established and new contemporary artists.[15]

In 2006, the gallery moved to Regent Studios in Andrews Road, London. Charles Saatchi bought Stella Vine'spainting Hi Paul Can You Come Over I'm Really Frightened from the gallery in 2004.Stella Vine founded the Rosy Wilde gallery[16] as an artist-run project space,[17] in 2003 in a former butcher's shop inEast London to showcase work by emerging artists.[18]

MoscowIn 2010, Fyodor Pavlov-Andreevich joined Solyanka State Gallery in Moscow as its director. The space will bere-launched under the name of SOLYANKA VPA (Videoart. Performance. Animation) - a state museum for screenart and artist-run space.

Footnotes[1] Palmer, Robert. "Study on the European Cities and Capitals of Culture and the European Cultural Months (1995-2004)" (http:/ / ec. europa.

eu/ culture/ key-documents/ doc926_en. htm). European Commission. . Retrieved 24 January 2010.[2] http:/ / www. studio1-1. co. uk[3] http:/ / www. embassygallery. org[4] http:/ / www. stew. org. uk[5] http:/ / appetite. com. ar/[6] Linda Dalrymple Henderson, Dean Fleming, Ed Ruda, and the Park Place Gallery: Spatial Complexity and the "Fourth Dimension" in 1960s

New Yorkpp. 379-388.[7] http:/ / www. aaa. si. edu/ exhibits/ paulacooper/ Retrieved June 15, 2010[8] In the Late Sixties, (http:/ / www. abstract-art. com/ abstraction/ l5_wordings_fldr/ l1_lyr_abst_proposal. html) Retrieved June 15, 2010[9] MacAdam, Barbara A. "Tilman - Minus Space", Art News, January 2008, Vol 107, No 1, p 132.[10] "Best of San Francisco" (http:/ / www. sfweekly. com/ bestof/ 2010/ award/ best-new-warehouse-space-1983103/ ). SF Weekly. November

3, 2010[11] Savage, Emily. "Toys That Kill, S.F. Vs. L.A., Indoor Block Party, C*nt Sparrer, and More" (http:/ / blogs. sfweekly. com/ shookdown/

2010/ 08/ street_fairs_mission_block_par. php). SF Weekly. August 13, 2010.[12] Alberge, Dalya. "Artists brandish brushes at rivals", The Times, 20 July 2002, p. 3. Online reprint (http:/ / www. stuckism. com/ zPressText/

10TimesSIG20-07-02. html), retrieved 17 February 2008.[13] "Archive: Stuckism International Gallery, London" (http:/ / www. stuckism. com/ CentreLondon. html), stuckism.com. Retrieved 17

February 2008.[14] "Stuckism International: Hysterical Shock" (http:/ / web. archive. org/ web/ 20040812140028/ www. stuckism. com/ CentreLondon. html),

Stuckism web site, 12 August 2004. Retrieved from the Internet Archive, 15 November 2008.[15] "Transition Gallery" (http:/ / www. nyartsmagazine. com/ index. php?option=com_content& task=view& id=2129& Itemid=645), NYArts.

Retrieved 28 January 2009.[16] "Modern Art Oxford: Stella Vine" (http:/ / www. modernartoxford. org. uk/ Press/ 80), Modern Art Oxford, 2007. Retrieved 15 January

2009.[17] Stella Vine Profile (http:/ / www. guardian. co. uk/ profile/ stellavine), The Guardian Online, 6 March 2007. Retrieved 14 January 2009

Artist-run space 57

[18] "Rosy Wilde" (http:/ / www. rosywilde. pwp. blueyonder. co. uk/ history. html), Rosy Wilde (history). Retrieved 8 December 2008.

References• Volk, Gregory. "The Chelsea Alternative", Flash Art, Summer 1999, Vol.XXXII, No.207.• MacAdam, Barbara A. "Tilman - Minus Space", Art News, January 2008, Vol 107, No 1, p 132.• Colon, Lorne. "Artist-run Manhattan Graphics Center celebrates 20 years", Downtown Express, Vol 18, Issue 52,

May 12–18, 2006.• Machine Learning, exhibition catalog, The Boyden Gallery of St. Mary's College of Maryland, The Painting

Center, Gallery Sonja Roesch and Minus Space. Essay by Matthew Deleget.

Not-for-profit arts organizationA not-for-profit arts organization is usually in the form of a not-for-profit corporation, association, or foundation.Such organizations are formed for the purpose of developing and promoting the work of artists in various visual andperforming art forms such as film, sculpture, dance, painting, multimedia, poetry, and performance art.

HistoryAlthough museums and performing arts societies have existed for centuries, they have in particular proliferated sinceWorld War II with the development of government organisations such as the Arts Council of Great Britain, theCanada Council, the New York State Council on the Arts and the National Endowment for the Arts, all of whichaward grants to help promote the development of art and culture.There are also not-for-profit legal service organizations providing services to artists and arts and culturalorganizations. Philadelphia Volunteer Lawyers for the Arts (PVLA) is one such organization. Through its volunteerattorneys PVLA provides non-criminal legal assistance to artists and arts and cultural organizations on arts relatedissues.

Canadian artist-run centresIn Canada, a series of artist-run organizations often known as "parallel galleries" or artist-run centres (ARCs) havedeveloped in cities across the country since the 1960s to encourage the exhibition of contemporary works byCanadian and international artists. The purpose is often to provide alternative spaces for exhibition for emergingartists and contemporary artists outside the commercial gallery system. Canadian ARCs usually pay a fee andde-emphasize the selling of work, although this will vary from gallery to gallery. A recommended schedule ofpayment is provided by the Canadian Artists' Representation (CARFAC), an artists' advocacy group.[1]

Not-for-profit arts organization 58

External links

American arts organizations• [[TradeArt Incorporated [2]]]• Washington Project for the Arts• Love & Art Children's Foundation [3]

• Bridge Theatre Project [4]

• Ruidoso Regional Council For The Arts [5]

• Space One Eleven [6]

Canadian arts organizations• Canadian Artists' Representation/Le front des artistes canadiens (CARFAC) [7]

• Artist-Run Centres & Collectives of Ontario (ARCCO) [8]

• Independent Media Arts Alliance/Alliance des arts médiatiques indépendants (IMAA/AAMI) [9]

• Pacific Association of Artist Run Centres (PAARC) [10]

UK Arts organizations• Music Generation [11]

• Artist-Led Initiatives Support Network

References[1] CAFRAC (http:/ / www. carfac. ca/ membership-en. php)[2] http:/ / www. trade-art. org[3] http:/ / www. loveandart. org/[4] http:/ / www. bridgetheatre. org/[5] http:/ / www. ruidosoarts. org/[6] http:/ / www. spaceoneeleven. org/[7] http:/ / www. carfac. ca[8] http:/ / www. arcco. ca[9] http:/ / www. imaa. ca[10] http:/ / www. paarc. ca[11] http:/ / www. musicgeneration. co. uk

59

Cultural contamination

Rothko CaseThe Rothko Case was the protracted legal dispute between Kate Rothko, the daughter of the painter Mark Rothko;the painter's estate executors; and the directors of his gallery, Marlborough Fine Art.[1] [2] [3] [4] [5] The revelations inthe case of greed, abuses of power and conspiracy[6] by financial interests in the art world were described by theNew York Supreme Court as "manifestly wrongful and indeed shocking,"[1] serving as a cautionary tale for bothartists and their gallerists.

SummaryThe entire Rothko matter involved a few litigants, but many counsel with lengthy professional services, some ofthem over a period from 1971 to 1979. Proceedings included removal of the estate's original executors, setting asidethe contracts those executors made with the Marlborough gallery, eliminating the rights of the gallery with respect toits inter vivos contracts with the artist, restoring hundreds of paintings to the artist's estate, removal proceedings tocompensate the estate for paintings not returnable to it to the extent of millions of dollars, election proceedingslitigating the rights of election by the children against an excessive charitable distribution, contents proceedingsconstruing Mark Rothko's will as to the meaning of the "contents" of the family residence willed to his widow and toher estate and later by the widow's will to Rothko's children, and valuation proceedings for valuing the art, assessedcosts, fees, and taxes.[7]

DetailsOn September 16, 1968, Rothko executed a two-page will, drafted by and its execution supervised by his friendBernard Reis, an unlicensed law-school graduate and Certified Public Accountant, leaving all of his residual estate tothe non-profit Rothko Foundation which Rothko organized shortly before his death.[8] [9]

Five months later on February 21, 1969, Rothko entered into an agreement with Marlborough A.G., a Lichtensteincorporation with international galleries, which provided in part that he agreed "not to sell any works of art for aperiod of eight years, except to Marlborough A.G. if a supplementary contract is made."[8]

One year later Rothko died by suicide on February 25, 1970, leaving an estate consisting primarily but not entirely of798 of his paintings. Rothko's wife Mary Alice died of a stroke six months after her husband's demise.[4] Rothko'swill was admitted to probate the month following his death, naming his estate executors: Bernard Reis, who haddrafted Rothko's will and who became a Marlborough Gallery New York director the month before Rothko died;Theodoros Stamos, a friend and fellow artist represented by Marlborough New York starting in 1971; and MortonLevine, an anthropology professor, unconnected with Marlborough but who had been Rothko's son Christopher'sguardian for a short time.[9] [4]

Shortly before his death in 1970, Rothko made gifts to his children of certain key paintings in his possession in aneffort to provide his children with financial security, since he believed that key patrons would pay higher prices forthe works following his death. However, after Rothko died, his children were notified by the Marlborough's founder,Frances Kenneth Lloyd, that under the terms of the agreement made with the gallery in 1966 and renewed in 1969,the gallery owned all of Rothko's paintings.Following Rothko's death the three executors for the estate agreed to sell 100 works to Marlborough for a total of$1,800,000 while a further 698 works were consigned to the gallery for sale at a fixed commission of 50%. However

Rothko Case 60

the executors paid only $200,000 upfront to the estate. In the year after Rothko's death the value of his work morethan doubled while early works were selling at auction for over $80,000.In 1971 Kate Rothko sued to release the estate from the sale agreement and have the paintings returned to the family.The legal proceedings revealed that when still a struggling artist with a young family, Rothko agreed to a deal withthe gallery in which all of his paintings would be sold through the gallery in exchange for a set monthly fee. Suchterms were not unheard of, as Pablo Picasso had had a similar deal with his gallery in the 1920s.It emerged from the proceedings that the estate executors and the gallery defrauded Rothko and his estate throughvarious methods of self-dealing. Among other wrongful acts, the gallery had been filtering payments for Rothko'sworks through accounts in Switzerland and Liechtenstein as part of an effort to ensure the paintings wereundervalued during Rothko's lifetime — in the 1960s this led the artist to vastly underestimate the value of hisworks, directly resulting in his agreement to consignments of dozens of paintings to the gallery and collectorswithout appreciating his works' full value.The trial record revealed that the gallery had been stockpiling the undervalued works instead of selling them in orderto ensure both a low market saturation and a high Marlborough inventory, anticipating a heightened value in themarket after Rothko's death. Further, the 100 paintings 'sold' after Rothko's death by the estate executors throughMarlborough were not sold to bona fide purchasers, but were instead retained by the gallery which shuffled the salemonies through its accounts in Europe, and which then quickly 're-sold' the works to actual purchasers for 5 to 6times the value declared by the estate. Many works were sold this way by the Marlborough with the complicity ofthe executors despite the court's injunction against selling any works while the case was unresolved and still beforethe courts.Ultimately, certain directors at Marlborough were convicted of defrauding the Rothko family, and in 1975, the courtordered the gallery to pay over $9 million in damages and costs, and also ordered the gallery to return 658 Rothkopaintings it still held. Marlborough disputed the return of the paintings and was able to prevail as to those works ithad sold during the proceedings in defiance of the court's orders to the contrary. Those works remained in the handsof collectors, including Rothko's 1953 oil on canvas painting, Homage to Matisse, which later sold at public auctionfor US $22.4 million.[10]

Valuation issuesThe courts involved in litigating the Rothko matter were faced with many complex issues as part of and beyond thewrongdoing of the Marlborough group as estate executors. In particular, the valuation of services rendered bycounsel were litigated at length; and the valuation of the paintings posed complex questions as their valuationaffected nearly every other matter facing the court. In 1979 after much of the matter's litigation had already takenplace, the court said:

... [T]he bulk of the estate was and is in the form of hundreds of paintings rather than cash ... and ... [the] Internal Revenue Service may not at an early time complete its final determination with respect to date-of-death estate taxes. The estate is presently resisting a deficiency assessment of large proportions. In litigating that issue there is not only a difference of opinion with respect to the value of the hundreds of paintings in this estate but also whether a blockage discount should be given to the estate and whether a further discount should be available due to the inter vivos contract for an exclusive agency in favor of Marlborough Galleries for seven years after death, and finally whether a discount should be enjoyed by the estate for commissions which must be paid for selling many of the paintings by agents of the estate. ... [P]revailing counsel have participated in approximately 20,000 pages of transcript of pretrial and trial testimony; thousands of exhibits have been introduced and considered; thousands of pages of briefs have been submitted to this court and to the appellate courts; many decisions were made in this court, pretrial as well as the ultimate disposition; the Appellate Division has ruled on these matters several times; and the Court of Appeals has finally unanimously affirmed the major disposition made in this court, (43

Rothko Case 61

N.Y.2d 305, 401 N.Y.S.2d 449, 372 N.E.2d 291).[7]

Former estate executorsThe Internal Revenue Service audited the Rothko Foundation and determined that Mark Rothko's former friend andex-estate executor Bernard Reis was liable for various self-dealing excise taxes under section 4941 of the InternalRevenue Code of 1954 (IRS code) for the years 1970 through 1974 in the total amount of $18,582,500, and additionsto tax under sections 6651 and 6684 for the same years in the respective total amounts of $518,125 and $2,112,500.Reis' estate (he was dead by that time) lost its summary judgment motion to make the ruling go away.[11]

Despite Theodoros Stamos protestations that he had done nothing wrong,[4] the Tax Court also ruled against him forliability for various self-dealing excise taxes under IRS code section 4941 for the years 1970 through 1976 in thetotal amount of $19,407,500, and additions to tax under sections 6651(a)(1) and 6684 for the same years in therespective total amounts of $724,375 and $2,957,500. Stamos also lost his appeal.[12]

Marlborough A.G.'s founder Frank Lloyd paid a third of the $9.2 million award to the Rothko children as a fineagainst Marlborough for violating the court's injunction against the sale of any further paintings before a final rulingor settlement.[4] The disgraced Lloyd is not mentioned as active after 1972 on the gallery history page onMarlborough's website.[13] Lloyd died in 1998 at age 86.[6]

Legal and financial concepts at issue• art valuation• breach of contract• breach of trust• warranty of title• conflict of interest• contempt• covenant of good faith and fair dealing• damages calculation• documentary evidence• equitable versus constructive ownership• estate contract• fiduciary duty• fraud• injunction• inter vivos agreements• joint and several liability• negligence• present value• temporary restraining order

Rothko Case 62

In filmThirteen years after his death, Mark Rothko's tale aired as a television movie: The Rothko Conspiracy, aco-production of the BBC and Lionheart Television. The filmmakers based their work on the 1978 book, The Legacyof Mark Rothko,[14] on interviews and the trial transcripts.[15] [16]

References[1] Matter of Rothko (http:/ / scholar. google. com/ scholar_case?q=Rothko+ Case& hl=en& as_sdt=2,48& case=4644555301641432255&

scilh=0), 43 NY 2d 305 - NY: Court of Appeals 1977. Official Reporter decisions include: 69 Misc.2d 752, 330 N.Y.S.2d 915, affd. 40A.D.2d 1083, 338 N.Y.S.2d 855; 71 Misc.2d 74, 335 N.Y.S.2d 666, affd. 43 A.D.2d 819, 351 N.Y.S.2d 940; 71 Misc.2d 320, 336 N.Y.S.2d130, mod. and affd. 40 A.D.2d 965, 338 N.Y.S.2d 854; 73 Misc.2d 548, 342 N.Y.S.2d 220, revd. 42 A.D.2d 558, 345 N.Y.S.2d 567, mot. forlv. to app. dism., 33 N.Y.2d 822, 350 N.Y.S.2d 911, 305 N.E.2d 919; 41 A.D.2d 806, 342 N.Y.S.2d 372; 42 A.D.2d 693, 346 N.Y.S.2d 714;77 Misc.2d 168, 352 N.Y.S.2d 574, affd. 47 A.D.2d 623, 366 N.Y.S.2d 610, mot. for lv. to app. den. 36 N.Y.2d 647, 372 N.Y.S.2d 1026, 334N.E.2d 603; 80 Misc.2d 140, 362 N.Y.S.2d 673; 84 Misc.2d 830, 379 N.Y.S.2d 923; affd. 56 A.D.2d 499, 392 N.Y.S.2d 870, affd. 43 N.Y.2d305, 401 N.Y.S.2d 449, 372 N.E.2d 291; 56 A.D.2d 819, 393 N.Y.S.2d 682; 95 Misc.2d 492, 407 N.Y.S.2d 954, and numerous unofficiallyreported Law Journal decisions as well as many scholarly articles.

[2] Dobrzynski, Judith H., A Betrayal The Art World Can't Forget; The Battle for Rothko's Estate Altered Lives and Reputations (http:/ / www.nytimes. com/ 1998/ 11/ 02/ arts/ betrayal-art-world-can-t-forget-battle-for-rothko-s-estate-altered-lives. html?pagewanted=all), The New YorkTimes, November 2, 1998, Accessed May 19, 2010.

[3] The Rothko Tangle (http:/ / www. time. com/ time/ magazine/ article/ 0,9171,944900,00. html), Time, Jun. 24, 1974.[4] Burstein and Shapiro, The Rothko Case: a Suicide, $32 Million in Paintings and an Angry Daughter (http:/ / www. people. com/ people/

archive/ article/ 0,,20069735,00. html), People, Vol. 8 No. 24 12/12/1977,.[5] Appleyard, Feature: The Rothko files. What inspired his art? Why did he kill himself? Now, the son he cut out of his will has found a

long-lost typescript that sheds light on the enigma of Mark Rothko (http:/ / www. timesonline. co. uk/ tol/ life_and_style/ article491421. ece),The Times Online, October 17, 2004.

[6] Smith, Roberta, Frank Lloyd, Prominent Art Dealer Convicted in the 70's Rothko Scandal, Dies at 86 (http:/ / www. nytimes. com/ 1998/ 04/08/ arts/ frank-lloyd-prominent-art-dealer-convicted-in-the-70-s-rothko-scandal-dies-at-86. html), The New York Times, April 08, 1998.

[7] Estate of Rothko, 414 N.Y.S.2d 444, 98 Misc.2d 718 (1979).[8] In re Will of Rothko, 351 N.Y.S.2d 940, 43 A.D.2d 819 (1974).[9] Harrow, Gustave, The Final Word in the ROTHKO Case: Salient Legal Holdings of the Court of Appeals, Art & Law, 4(2), p. 33 (1978).[10] Cooke, Rachel (September 14, 2008). "The art cheats who betrayed my father" (http:/ / www. guardian. co. uk/ artanddesign/ 2008/ sep/ 14/

art1). The Observer. .[11] Estate of Reis v. Commissioner (http:/ / scholar. google. com/ scholar_case?q=Rothko+ Case& hl=en& as_sdt=2,48&

case=14896345529309871573& scilh=0), 87 TC 1016, Tax Court 1986, 3095-77.[12] Stamos v. Commissioner (http:/ / scholar. google. com/ scholar_case?q=Rothko+ Case& hl=en& as_sdt=2,48&

case=10134621332923988669& scilh=0), 87 TC 1451 - Tax Court 1986, 3096-77.[13] History (http:/ / www. marlboroughfineart. com/ gallery. html), Marlborough Fine Art. Retrieved Apr 5, 2011.[14] Seldes, The Legacy of Mark Rothko, Da Capo Press, 1996 paperback, ISBN 978-0306807251.[15] IMDB (http:/ / www. imdb. com/ title/ tt0086210/ )[16] Glueck, "Rothko Conspiracy," The New York Times, May 3, 1983 (http:/ / www. nytimes. com/ 1983/ 05/ 03/ arts/

tv-rothko-conspiracy-a-movie. html?& pagewanted=all)

Further reading• Wellman, Richard V., Punitive Surcharges Against Disloyal Fiduciaries--Is Rothko Right?, 77 Michigan Law

Review 95 (1978-1979).• Harrow, Gustave, Reflections on Estate of Rothko: The Role of the Legal Advisor in Relation to the Artist, 26

Cleveland State Law Review 573 (1977).• Feldman, Franklin, Marketing Fine Art: Selling the Right Thing the Wrong Way, 1 Communications & the Law

71 (1979).• Gerstenblith, Patty. Art, Cultural Heritage, and the Law. pp. 336-344. Carolina Academic Press, 2004/2008.

ISBN 9781594600999.

Article Sources and Contributors 63

Article Sources and ContributorsArt world  Source: http://en.wikipedia.org/w/index.php?oldid=413200473  Contributors: AgentPeppermint, Antandrus, Artgal73, Athaenara, Caltas, Clubmarx, DVD R W, Dwarf Kirlston,Fplay, Gkklein, Headbomb, Hyacinth, Jag123, Joerom5883, Johnbod, Kozuch, Leithp, MarylandArtLover, Ringbang, Rjwilmsi, RonCylinder, Swimmer40, Ufinne, 13 anonymous edits

Art world economics  Source: http://en.wikipedia.org/w/index.php?oldid=450352982  Contributors: Alix Greenberg, Altenmann, Aymatth2, Binary TSO, Bluemoose, Fieldday-sunday,Headbomb, Helenmadle, JesseRafe, John Quiggin, Kuru, MikeWazowski, PGPirate, Paxse, Risa Hamilton, Sctechlaw, Sparkit, Tyrenius, Uncle Milty, Warrenking, 5 anonymous edits

Economics of the arts and literature  Source: http://en.wikipedia.org/w/index.php?oldid=457881803  Contributors: Arthena, Ayumu21, Baruch1677, Bokken, Citicat, CorailRouge, DéRahier,Eastlaw, Gaius Cornelius, Grenavitar, Headbomb, Helenmadle, J.Henrich, Jncraton, Jonkerz, Novalis, OnBeyondZebrax, OwenBlacker, Pigman, Thomasmeeks, Tyrenius, Vberger, WRK,Woohookitty, Wtmitchell, Yerpo, Zembylas, 13 anonymous edits

Appraiser  Source: http://en.wikipedia.org/w/index.php?oldid=441505115  Contributors: 16@r, Basawala, Bearcat, Bobo192, Borgx, Brian0918, Bulkyfinger, Chris Capoccia, Cochise007, Ency,Flewis, Kuru, Levineps, MissAlyx, Mnmngb, Olaffpomona, Piano non troppo, Pwqn, R'n'B, Sadads, Veinor, Viva-Verdi, WikiPrez, Wo0dstock79, 21 anonymous edits

Art auction  Source: http://en.wikipedia.org/w/index.php?oldid=462885621  Contributors: Adottone, Agreen07, Alix Greenberg, AngoraFish, Anwar saadat, Atesix, Brian0918, CarolGray,Charles Matthews, Chris the speller, DanMS, Dave.Dunford, Earle Martin, EmanWilm, France3470, Freshacconci, Havanafreestone, Herbee, Hoof Hearted, JNW, Johnbod, Johnlp, Kauffner,Khazar, Kusma, Mandarax, Maralia, Max7437, Mhockey, Michael Bednarek, Midway, MikeWazowski, NawlinWiki, Not sure if want, PDH, Pearle, Peoplefromarizona, Pgehr, PhnomPencil,Plastictv, Ribaldhumor, Rjwilmsi, Saga City, Sanfranman59, Scriberius, Sctechlaw, Sebastark, Shell Kinney, SlackerMom, Smalljim, Someguy1221, Sparkit, Stwalkerster, Tassedethe,Thadius856, Ukexpat, Wareh, Xhienne, Zoicon5, 16 anonymous edits

Art dealer  Source: http://en.wikipedia.org/w/index.php?oldid=461781125  Contributors: 1ForTheMoney, 4stones, AgentPeppermint, Alansohn, Amalas, Artforlife, Bandgeek0975, BorgQueen,Caiaffa, Carter, Cramyourspam, Evadb, Iopensa, Ipigott, Iridescent, J. Van Meter, Katpatuka, M-le-mot-dit, Mindmatrix, Neddyseagoon, Patriciathornton, Pinethicket, Professor marginalia,Rehsgal, Rich Farmbrough, Rjwilmsi, Rlanman, Schmiebel, Sctechlaw, Sparkit, Startstop123, Steve szentesi, Stevegallery, Stumps, Thadius856, The Thing That Should Not Be, Tyrenius, Wikialf, Ғїяеѕкатея, 29 anonymous edits

Art exhibition  Source: http://en.wikipedia.org/w/index.php?oldid=463893685  Contributors: Accesstheworld, Artemis-Arethusa, Artfriend, AtticusX, Avantika789, Bless sins, Chithrapriya,Clicketyclack, Cuilumeiyu, Daniel C. Boyer, Darkwind, DivineAlpha, Erianna, Favonian, Fratrep, Furtfurt, Gaius Cornelius, Hans Dunkelberg, Hare, Hoary, Ian Drysdale, Infrogmation, Ironie,JNW, Jahsonic, John of Reading, Johnbod, Jorghex, Joy, Jpbowen, Kateshortforbob, LIS632-07S-SAP, Lotje, Mahanga, Man vyi, Meredyth, Miyagawa, Mlfeldman, Modernist, MrJones,MrOllie, Mrlemuria, Myrabella, NERIUM, Nikai, Ojsolyaszabo, Oosoom, Patrickbelldes, Piotrus, R'n'B, Research Method, Rjwilmsi, Rockero, Salmon1, Sander123, Sanfranman59, Sctechlaw,Ser Amantio di Nicolao, SiobhanHansa, SkippyNZ, Skovi2011, Sparkit, Tabletop, TheRingess, Tomasz alias, Uncle G, Vensson, Voyagerfan5761, W.S. Burton, Zscout370, 59 anonymous edits

Commission  Source: http://en.wikipedia.org/w/index.php?oldid=456431696  Contributors: BluePuddle, Clubmarx, CommonsDelinker, Hans Dunkelberg, Hyacinth, Kathleen.wright5, Koavf,Michael Bednarek, OttawaAC, Redheylin, TreasuryTag, 4 anonymous edits

Contemporary art gallery  Source: http://en.wikipedia.org/w/index.php?oldid=461209354  Contributors: Abiyoyo, Accounting4Taste, Achangeisasgoodasa, Alan Liefting, Art Gallery Tbilisi,Artemis-Arethusa, Artgirl52, BD2412, Bad western, Bus stop, CliffC, Comayagua99, Cqixk, David Shankbone, Dmadeo, Flange P. Vibrator, Freshacconci, Herostratus, Jpbowen, LESart,LOctopus, Laval, LunenburgArt, Mandarax, Marionetteroulette, Mark Faraday, Menchi, Michaelrccurtis, Modernist, MuseViews, Nancyleeson, Neo-Jay, Paolo Cappelletti, RJFJR, Reba624,Research Method, SandraLendi, Sanfranman59, Sargentprivate, Sparkit, Stevegallery, Tc262, Tyrenius, Ulric1313, Vagaramchoudhary, Vamshi 12345, WWGB, Woohookitty, Working.fool, 53anonymous edits

Estate sale  Source: http://en.wikipedia.org/w/index.php?oldid=463877360  Contributors: Aarons4321, Antiquesnut, Apparition11, BD2412, Bcorr, BenKovitz, Billts1, Boojum, Camembert,Carl Logan, Charto911, Creade, Discospinster, Dratman, Ebeisher, Erikdhanson, Fixeeg, Flagman5, Gene Nygaard, GraemeL, Ike9898, Jeff Muscato, Jenniekrausse, Jeodesic, Kember,MikeyCarter, Mmcquade, NawlinWiki, Nbarth, Neilc, Neonate1978, Not sure if want, Ootsark, Orlady, Possum, RickK, Sebastark, SimonP, Someguy1221, Urummage, Weathermandan,Wheels36, Whpq, Yummifruitbat, 46 anonymous edits

Vanity gallery  Source: http://en.wikipedia.org/w/index.php?oldid=456043495  Contributors: Artemis-Arethusa, Arthena, Carollmich, Cholmes75, Doc glasgow, Donnie Park, Ezair, Gillyweed,Goldenrowley, Hejustlaughs, Herostratus, J04n, Jpbowen, JulesH, Meritnow, Rhinoserous888, RicDod, Sandstein, TiffanyZ, Tony1, Tyrenius, Woohookitty, Zscout370, 6 anonymous edits

Art museum  Source: http://en.wikipedia.org/w/index.php?oldid=461209374  Contributors: 1717, A Musing, A. B., Abbahia, Abh9h, Abshreeji, Accesstheworld, Achangeisasgoodasa, Addshore,Adonisrama, Alex earlier account, Alex nrp, Alison4531, AlistairMcMillan, AnjaleeV, Antosh, Architon, Arpingstone, Art LaPella, Art.net, ArtMayhem, ArtPhotoLover, Artemis-Arethusa,Artery Gallery, Artmax, Artw, AtticusX, Bachrach44, Balaguerpelegri, Barticus88, Betterusername, Bfpage, Biatch, BjörnEF, Blehpunk, Blindio, Brca, Brianreading, Bruno Grauber, Brynulf,Bunnyhop11, BurgererSF, Bus stop, CDM1500, Caiaffa, Calton, Camembert, Canadian, Capricorn42, Ceginder100, Cfrydj, Cgolojuch, Chelah, Cholmes75, Chongkian, Chris j wood, ChristianList, Christphe, Closedmouth, Cohesion, Colonies Chris, Comayagua99, CommonsDelinker, Cool new york, Cordless Larry, Cosmic47, Crimeandpunishment, Curator2000, DJ Clayworth, Danasmk, Danger, Daniel C. Boyer, Daniel J. Leivick, Danny, Darklilac, David Thrale, David Warner, Debora, Delta 51, Designfesta, Desyman, Detp, Discospinster, Dismas, Djmutex, Dmadeo,DolomeT, Dormskirk, Dornicke, DrakesTravels, DraskoSavic, Druffeler, Dshfbaworgbn, Dsmithsmithy, E Pluribus Anthony, E Pluribus Anthony redux, ERcheck, Ebdigsit, EdDrass, EdH, ElCaro, Elonka, EmanWilm, Emilys3, Emporole, Epolk, Ethicoaestheticist, EugeneMartin, EurekaLott, Ev, EvaK, ExWiki, Farscot, Fcb981, Feezo, Fineartgasm, Flange P. Vibrator, Flowanda,Fourgallery, Fplay, Fram, Fratrep, Frecklefoot, Fredbauder, Freshacconci, Frietjes, Fsouza, FvdP, Gabimuster, Gaff, Galoubet, Ghirlandajo, Gogafax, GoldnGate, GoneAwayNowAndRetired,GraemeL, Greg Salter, Grenix, Gurt Posh, H.Albatros, HJMG, Hadal, Hephaestos, Hpuppet, Iam emperor, Insert coins, Intgr, Iridescent, JNW, JaGa, Jack Merridew, Jackp, Jahsonic, Jakes18,JamesMLane, Jareha, Jespinos, Jheald, Jim.henderson, Jjron, Jleon, Jmart1980, John of Reading, Johnbod, Johnglowry, Joycedula, Jpbowen, Jpers36, Jre880, Juliancolton, KNewman,Karenbenfield, Ken Gallager, Khalid Mahmood, Khatru2, Khazar, Kingturtle, Kirgyt12, Kjkolb, Klepsydra, LOctopus, LPLT, LansdellGalleries, Lcwujc, Lee M, Lfh, Lifeinantarctica,LingVictor, Linkspamremover, Lirane1, Lucas bsalles, M-le-mot-dit, MCB, MadGeographer, Maiko90, Mandarax, Marcika, Marianne Wagner, MarylandArtLover, MatejuskaK,Materialscientist, Meddlin' Pedant, Michel BUZE, Mikepanhu, MilborneOne, Minnaert, Mintguy, Miskatonic, Mmmmpizza, Mocak, Mocando, Montrealais, Mrlemuria, MuseViews,Nachoman-au, Nathan43, Naturalhomes, NawlinWiki, Neddyseagoon, Nephron, Neutrality, Nick Number, NicoWeb, Nikkimaria, Niteowlneils, Noniq21, NorwalkJames, Notjim, Nrcprm2026,Ohmygoditsalex, Olaff-Vik, Olivier, Ordew, Orgio89, PAWiki, Pablo X, Pafcool2, PamD, Pankajjain, Patrick, Patrickartguy, Paul Erikson, Paula Clare, Paulborchers, Pax:Vobiscum,Peruvianllama, Pethan, Pgehr, PhilipO, Photoarts, Picardypintor, Pleasantville, Pmoore66, Post colonial, Postdlf, Pravraes, RCS, Rachyroos, Radu Barla, Ralphwiggam75, Ramblersen, Raptornet,Rborroto, Rbrwr, Redcabin21, Redux, Research Method, Resistme, RevelationDirect, Rgvis, Rich Farmbrough, Richard0612, Rkirkov, Rmashhadi, Robert Merkel, Robertissimo, Ronhjones,Rosenzweig, Rubenescio, SE7, SPSAdam, Samrp, Sandstein, SarahStierch, Savidan, Sethione, Shandilya a, ShaunMacPherson, Skovi2011, Smellyhedgehog, Snowmanradio, Solipsist, Spankees,Sparkit, Spitfire, Stalwart111, Star Mississippi, StellaMT, Stevegallery, Symane, T for lunch, Tancrede, The Thing That Should Not Be, Theroadislong, Thomas Larsen, Thomas Paine1776, Tim!,Toddst1, Tommy2010, Topbanana, Tyrenius, Usualanomaly, Vaduz, VanBurenen, Vary, Vegaswikian, Vitriden, Vlad b, Walkwithastagger, Wallyfindlay, Wapcaplet, Wavelength, Welsh,Werdan7, Werldwayd, Wheeler1346, Whyleyc, Wiki page creator, Wikitaun, Wikwebster, William 48, William Avery, Wise mike, Woohookitty, Wtmitchell, Xandi, Xanthoxyl, Xiaomai2,Zzuuzz, 593 anonymous edits

Collection  Source: http://en.wikipedia.org/w/index.php?oldid=461461462  Contributors: Alan W, Allens, Clicketyclack, Conical Johnson, Dina, Ecdyses, Everyking, Jlpinar83, Joseph Solis inAustralia, Jpbowen, Jpmonroe, Kalogeropoulos, Keilana, Kjkolb, LISKellyF, Laureapuella, Mrabbits, Quibik, Richard Arthur Norton (1958- ), RichardMcCoy, Rjwilmsi, Sea-dragons, Smith609,Tabletop, 15 anonymous edits

Curator  Source: http://en.wikipedia.org/w/index.php?oldid=459865783  Contributors: Adam78, Adamsan, Ahnmyrrh, Ahoerstemeier, Alan West, AlexDitto, Ali@gwc.org.uk, Angela, Aranel,Arthistorian1980, As0012, BarryDalton, Bearcat, Bevo74, Bobo192, BrainyBabe, CalJW, Carbuncle, Carmabelle7912, Chapultepec, Ckeen4, Clive sweeting, CryptoDerk, Cybercobra, DVD RW, David Eppstein, Dbiel, Dessymona, Dispatx, Doubomir, Drbreznjev, Dysmachus, Eastlaw, Ecdyses, Epmorrill, F-402, Faculty of Arts, Design and Media, Fini12, Hanacy, Hhielscher, IRP,Ida Shaw, Ideaart, Intersofia, Jeremybigalke, Jordan Gray, Jorgebarrios, Joseph Solis in Australia, Jpbowen, Kowey, Kpflude, Kubigula, Kuru, MER-C, Madman, Mambolica, Maria N,Melaniesharrison, Michael Hardy, Mindmatrix, Mingwangx, Mjs110, Mushroom, Neuralwarp, Nibuod, Nice poa, Nilsz, Orphan Wiki, Otisjimmy1, Pcb21, Penfold, Prokoffey, QueenCake,Quercusrobur, Quidam65, Reconsider the static, Remi Mathis, Rich257, Rjwilmsi, Rl, Rlsheehan, Rotational, Roux, Ryanmcdaniel, Sappo, Seraphimblade, Severo, Shenqing, Skibz777, Sparkit,The Baroness of Morden, The Thing That Should Not Be, The teach, Thomas Soderqvist, Tide rolls, Tomwsulcer, Toussaint, Txensen, Tyrenius, UberScienceNerd, UncleDouggie,Urdujamanaoag, W.S. Burton, Wacko39, Woolfy17, Wyngaarden, Yerpo, 326 ,יונה בנדלאק anonymous edits

Endowment invasion  Source: http://en.wikipedia.org/w/index.php?oldid=461186362  Contributors: Jxl180, Richard Arthur Norton (1958- ), Transpoman, 3 anonymous edits

Art finance  Source: http://en.wikipedia.org/w/index.php?oldid=423375436  Contributors: Athaenara, Bluechip, Bryan Derksen, Cmdrjameson, Emmalouise123, Jeremyerhodes, John Quiggin,Kappa, LilHelpa, Mailer diablo, Pegship, Rosellabertl, Sctechlaw, Sparkit, Swliv, TheParanoidOne, 7 anonymous edits

Article Sources and Contributors 64

Art valuation  Source: http://en.wikipedia.org/w/index.php?oldid=462235117  Contributors: Agreen07, Anthony Appleyard, Beland, Bus stop, Ecphora, Helenmadle, Jpbowen, Khazar,Sctechlaw, Tyrenius, Will Beback Auto, 4 anonymous edits

Blockage discount  Source: http://en.wikipedia.org/w/index.php?oldid=458247301  Contributors: Guy M, Postcard Cathy, Sctechlaw, Tktktk, Vilisinde, Welsh

Artist cooperative  Source: http://en.wikipedia.org/w/index.php?oldid=394769088  Contributors: Artstreet, Brewcrewer, Freshacconci, JonHarder, Maxbeck, Modernist, Moray mair, 13anonymous edits

Artist-run space  Source: http://en.wikipedia.org/w/index.php?oldid=462564735  Contributors: Abiyoyo, Aichikawa, AllyD, Artclubber, Artstreet, Bearcat, Bigbluefish, Blellum, Chaosandvoid,ChrisHodgesUK, Christina-Austin, Corfieldartworks, Cowboy456, Dansalmon, Dimitrilaunder, Ekrylova, Fourgallery, Freshacconci, Goldenrowley, Interestedartist, Jpbowen, Keranjames, LiloKinne, Lunule, Maus23, Maxbeck, Mel Etitis, Mmmmpizza, Modernist, Radagast83, RonCylinder, SimonP, Sleepless77, Sparkit, Swi521, Tc262, Thewombler, Titosunkist, Tyrenius, Ulric1313,Warrenking, 30 anonymous edits

Not-for-profit arts organization  Source: http://en.wikipedia.org/w/index.php?oldid=454122941  Contributors: Alex756, Caliper, Danceon002, Enigmaman, Excirial, Fplay, Freshacconci, JNW,Jordandalladay, Leszek Jańczuk, Mais oui!, Mdr29, Michael Hardy, Picapica, Pohick2, Pvla, Sparkit, Support-the-arts, Tassedethe, Zippanova, 14 anonymous edits

Rothko Case  Source: http://en.wikipedia.org/w/index.php?oldid=462904150  Contributors: Active Banana, Bobak, Brighterorange, Bucketsofg, Eastlaw, Fxer, Gdm, Goethean, JForget, JerDW,Justinrobinette, Modernist, Naniwako, RP88, Riggr Mortis, Rjwilmsi, Sctechlaw, Shlimozzle, WereSpielChequers, Wickethewok, Zoicon5, 14 anonymous edits

Image Sources, Licenses and Contributors 65

Image Sources, Licenses and ContributorsFile:Sotheby York Av jeh.JPG  Source: http://en.wikipedia.org/w/index.php?title=File:Sotheby_York_Av_jeh.JPG  License: Public Domain  Contributors: Jim.hendersonFile:ChristiesNewYork.JPG  Source: http://en.wikipedia.org/w/index.php?title=File:ChristiesNewYork.JPG  License: Creative Commons Attribution 2.5  Contributors: Original uploader wasDavid Shankbone at en.wikipediaImage:This Year Venuses Again (Daumier).jpg  Source: http://en.wikipedia.org/w/index.php?title=File:This_Year_Venuses_Again_(Daumier).jpg  License: Public Domain  Contributors:AnRo0002, Bohème, Coyau, Darwinius, Jospe, Kilom691, Maksim, Mu, Nachcommonsverschieber, 1 anonymous editsImage:Empty exhibit space.jpg  Source: http://en.wikipedia.org/w/index.php?title=File:Empty_exhibit_space.jpg  License: Creative Commons Attribution 3.0  Contributors: Ser Amantio diNicolaoFile:Sloan cubism.jpg  Source: http://en.wikipedia.org/w/index.php?title=File:Sloan_cubism.jpg  License: Public Domain  Contributors: CatzenFile:MARTa Forum IMGP2534 wp.jpg  Source: http://en.wikipedia.org/w/index.php?title=File:MARTa_Forum_IMGP2534_wp.jpg  License: GNU Free Documentation License  Contributors:smial (talk)File:Les Primitifs Flamands poster.jpg  Source: http://en.wikipedia.org/w/index.php?title=File:Les_Primitifs_Flamands_poster.jpg  License: Public Domain  Contributors: J.L. GoffartFile:Glazunov-exhibition2010Manezh1.JPG  Source: http://en.wikipedia.org/w/index.php?title=File:Glazunov-exhibition2010Manezh1.JPG  License: Creative Commons Attribution-Sharealike3.0  Contributors: Л.П. ДжепкоImage:Contemporary art gallery by David Shankbone.jpg  Source: http://en.wikipedia.org/w/index.php?title=File:Contemporary_art_gallery_by_David_Shankbone.jpg  License: CreativeCommons Attribution-ShareAlike 3.0 Unported  Contributors: David Shankbone (attribution required)File:Le Louvre - Aile Richelieu.jpg  Source: http://en.wikipedia.org/w/index.php?title=File:Le_Louvre_-_Aile_Richelieu.jpg  License: unknown  Contributors: User:Gloumouth1File:The Gallery of Cornelis van der Geest.JPG  Source: http://en.wikipedia.org/w/index.php?title=File:The_Gallery_of_Cornelis_van_der_Geest.JPG  License: Public Domain  Contributors:Willem van HaechtImage:LA2-katalogkort.jpg  Source: http://en.wikipedia.org/w/index.php?title=File:LA2-katalogkort.jpg  License: Creative Commons ShareAlike 1.0 Generic  Contributors: This photo (C) byLars AronssonFile:Crosby Garrett Helmet on auction at Christies.jpg  Source: http://en.wikipedia.org/w/index.php?title=File:Crosby_Garrett_Helmet_on_auction_at_Christies.jpg  License: CreativeCommons Attribution 2.0  Contributors: Portable Antiquities Scheme from London, EnglandFile:Anne_pontegnie_02.jpg  Source: http://en.wikipedia.org/w/index.php?title=File:Anne_pontegnie_02.jpg  License: Creative Commons Attribution-Sharealike 3.0,2.5,2.0,1.0  Contributors:MarcwathieuFile:Repin tretyakov.jpg  Source: http://en.wikipedia.org/w/index.php?title=File:Repin_tretyakov.jpg  License: Public Domain  Contributors: Dmitry Ivanov, Fanghong, J.M.Domingo,Kneiphof, Mattes, ShakkoFile:Archives of American Art - Arshile Gorky Fiorello La Guardia at the opening of the Federal Art Gallery - 2127.jpg  Source:http://en.wikipedia.org/w/index.php?title=File:Archives_of_American_Art_-_Arshile_Gorky_Fiorello_La_Guardia_at_the_opening_of_the_Federal_Art_Gallery_-_2127.jpg  License: PublicDomain  Contributors: AAA uploader, MissvainFile:Albert Josef Franke Beim Antiquitätenhändler.jpg  Source: http://en.wikipedia.org/w/index.php?title=File:Albert_Josef_Franke_Beim_Antiquitätenhändler.jpg  License: Public Domain Contributors: Albert Josef Franke (1860-1924)File:Gallery 01.jpg  Source: http://en.wikipedia.org/w/index.php?title=File:Gallery_01.jpg  License: Creative Commons Attribution-Sharealike 3.0  Contributors: MetaxourgeioFile:Spotlight2.jpg  Source: http://en.wikipedia.org/w/index.php?title=File:Spotlight2.jpg  License: Creative Commons Attribution-Sharealike 3.0  Contributors: Art Alive GalleryFile:8targi.JPG  Source: http://en.wikipedia.org/w/index.php?title=File:8targi.JPG  License: Creative Commons Attribution 3.0  Contributors: Zofia WaligóraFile:Marie-Gabrielle Capet - Studio Scene - WGA4049.jpg  Source: http://en.wikipedia.org/w/index.php?title=File:Marie-Gabrielle_Capet_-_Studio_Scene_-_WGA4049.jpg  License: PublicDomain  Contributors: Gepardenforellenfischer

License 66

LicenseCreative Commons Attribution-Share Alike 3.0 Unported//creativecommons.org/licenses/by-sa/3.0/