Art: financial opportunity, reward and pleasure

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Many art investors might know little about art in countries such as the Philippines, Venezuela, Israel, Malaysia and Turkey. With overviews of 42 different countries, this book brings to the fore less familiar art markets from around the world so that readers can tap into this potentially lucrative patrimony.

The billionaire American collector Jean Paul Getty (1892-1976) believed that people could not be transformed into cultured, civilised human beings until they acquired an appreciation and love for art.

As the first book of its kind, The International Art Markets, published by Kogan Page on 31st July, intends to fuel that interest and appreciation.

The 42 chapters, each covering a country, are written by 58 mostly locally based experts. The book aims to provide an outline to each country’s art market for the benefit of new or existing art collectors and investors.

Each chapter covers the following topics:

  • Art history: in terms of international originality and innovation
  • Art market history to date: including taste, fashion, value, artists, art types, subjects, sales, prices and records
  • Market structure and performance: including auctioneers, dealers, trade associations, museums, exhibitions, fairs, training and education
  • Tax and regulation

Despite fears of recession, notably affecting the art market’s two main trading centres of the USA and Britain, art prices have held steady or continued to rise especially for new, often abstract art. How come?

The answer is simple: the art market is being propelled by the same forces of globalisation affecting all other industries. During the last fifteen years the international trade in art has doubled to over $31 billion and in the last decade prices in the top 2% of the market have tripled in real terms.

About the author

James Goodwin MA, MBA lectures on the art market at Maastricht University, The Netherlands, City University, Kingston University and Christie’s Education, London. His research and writing has appeared in The Economist, Financial Times, Wall Street Journal Europe and many art and antique magazines.

Published by Kogan Page, www.koganpage.com

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