Introduction

Christina Chaplin

It seems to me as if the art market should be defined as the space in which art is traded for currency, whether that currency is money, art, or power.  The art market is thus ultimately made up of people interacting with other people, and like any human effort is wrought full of ego, manipulation, subjectivity, and reaction.  Similar to any economic system for trading goods, it seems as if the value of the art work is set arbitrarily at first and adjusted based on levels of supply and demand.  Basquiat sets his painting price at $500 for Mrs. Cavalcanti simply because that is how much he needs at the time.  However, in another clip we see him tell a friend that a gallery is offering $5,000 for a sketch previously worth $2.  The demand for his work has increased and thus so can the price. 

Yet the relationship to demand seems more complicated.  The demand increases with fame, which seems to itself derive from a friendship that forms between a young artist and an established one.  Association with fame can bring intrigue and then fame can follow if the interest is suspended.  One artist is able to market himself by drawing attention to his work and gaining the respect of other artists and dealers.  But as Basquiat's friend mentions, one must then adhere to a certain set of parameters within one's own work in order to suspend the interest and not confuse or anger their audience.  Only by forming relationships with dealers and galleries, being respected by peers/buyers, and maintaining a certain amount of public appeal can one keep demand for the work high enough to bring in a good price for the art work.  Therefore, only by playing to the human side of the market can one find economic success.

Dalanda Jalloh

Charles Saunders

Lipei Yu

H Hunt Bradley III

Daniel Chazen

Assignment #1.

Money, power, and people using each other to get what they want are the first words that come to mind in defining the art market.  Artists know that their work can have value and that there are customers willing to pay for it.   The money is as important to the artist as it is to the customer; it is what fuels the relationship between the two.  For example, while Mrs. Cavalcanti in the Downtown 81 film may have a physical attraction to Basquiat, the money is what moves their relationship.  As much as Basquiat may be a talented artist and as much as Mrs. Cavalcanti may be seducing him and interested in his work, the money is the key to the art market transaction in which they engage on the couch in her apartment.  And I think they both know that money is essential to the deal, but go through their encounter without talking much about it as that would kind of detract from him being an artist and her status as a rich person.

Power is probably as important as money in defining the art market.  The artists have the goods that are in demand.  And they can use their product, which gives them power, to secure what they want.  As depicted in the film Basquiat, an artist can use his art to "trade."  Warhol tells Basquiat he should not be giving "away" his work.  Warhol's relationship with Basquiat is a good example of how power defines the art market.  Warhol befriends Basquiat for his artistic ability, while Basquiat seems to befriend Warhol for his fame.  They each use their own power to get more power.

Kwame Nana-Atoo

Assignment 1

To most people the art market is the selling and buying of artworks., but what comes in mind is the process of getting there- the hows, where, and when to make the connections, reactions, communications and interactions when you meet people and when to know when the time is right to act i.e. if there is even such a thing as the right time or its just chance. Interesting enough, most art schools have turned a blind eye on informing art students about what happens in the art market, making it almost seem like a taboo to talk about. From the videos my first impression about the art market was being patient, continual working, and having a unique but consistent style so that your work will be easily recognizable by other artists and art collectors/buyers.

Also it is very important to be prepared to accept the many critiques that are written about you when you start becoming recognized; good and the bad.  Always be prepared to have something to sell and when you sell, sell big. I think that as emerging artist we are always confronted with how much to sell our works- and we worry that people will not buy when its high, but I learnt something very critical in the videos"it is not how much you work on something that matters, its how much you get for them"... Art market for you.

Joo Shin

McKenzie Sullivan

Elena Cestero

Kelly Zona