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Art Fund Proposal - Research Paper Example

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The market structure of the painting sector and its patterns of consumption vary among geographical areas. The increase in consumption of paint is historically connected with an increase in the living…
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Download file to see previous pages Painting is one among them. The paint market sector can be divided into two major categories, industrial coatings and decorative paints based on the end-use of the particular products. Besides segmentation based on the end use of the particular painting product, markets can also be divided based on the quality and price of the product. Paints are generally divided into three price and quality categories: medium, premium and economy. The size of each group differs by market area and country, depending on the local painting traditions, standard of living, styles of construction and available materials, the general construction and decorating trends as well as industrial activity and renovation.
Art market is a network of worldwide fiscal activity in major world cities: London, Berlin, New York, Geneva, Paris, Tokyo, Hong Kong and Milan. Art market subsists only in cities with cultural and financial capital that attracts continuing concentration of marketplace activity. The US guides the world marketplace for modern art with 50% of sales level. Aggregate sales volume and pricing across the art market from every source (sales, dealers, galleries, private and auctions) are presently impossible to quantify, but at the same time there are obvious indicators and trends. Using international prices and auction sales as an indicator of rising market activity, it can be seen that modern art prices were up 22% in 2003. Contemporary art market is being driven by the arrival of a new demographic of younger collectors and buyers.
“Modern art is currently the heart of the global art market. It is the densest and most profitable segment. 2011 was the best of the decade for the sale of modern works with particularly strong demand and an outstanding revenue total of $6.067B, representing 52.4% of total global art auction. In 2011, the revenue from Modern art was up $1.218 billion versus 2010 which was itself a record year” (Art Market Trends 2011 ...Download file to see next pagesRead More
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