The Different Spaces in the Art World

The Different Spaces in the Art World

This is the second weekly email of our “Art Market 101” series
Last week we discussed the key players in the art market. This week, let’s talk about where those key players interact. Where do we hunt for, gather, and purchase fine art? Here are some of the major spaces in the art world.

  • Auctions

Top auction houses like Christie’s, Sotheby’s, and Phillips set the art market mood as the world’s top collectors bid for the highest-value and most publicized auctions. Typically, each auction is centered around a particular era or genre of art (i.e. Modern Chinese Art).

  • Art Fairs

Showcasing hundreds of the world’s galleries under a single roof, art fairs are an extremely efficient way to browse and collect art. Galleries manage individual booths, where they exhibit their signed artists as thousands of visitors hop from one booth to the next. Art fairs typically run for a couple of days, with notable fairs including Art Basel and The Armory Show.

  • Galleries

Galleries are the first place to officially exhibit artists in their careers, and they often represent living artists. With close ties to artist estates and private collectors, they also showcase famous exhibitions by past and living artists. Notable galleries include David Zwirner and Saatchi Gallery.

  • The Internet4_729_0.sydneycontemporaryartfair_4c

Art enthusiasts can now participate in online auctions facilitated through top auction houses and purchase art from various established vendors. Though the internet facilitates a more efficient art collecting process, authenticity and quality must be carefully evaluated.

Next week, we’ll address what to look for in a piece of art: quality, style, and notable eras, to name a few. Stay tuned!