Why Does the Art World Never Talk Business?
Why Does the Art World Never Talk Business?
With Faridah Folawiyo, Aindrea Emelife, Karen Foss Becker, Sophie Merrell and Isabella Rothman
By HURS Team
When we talk about art, the conversation often centers around the creative practice of an artist. But the ever-changing ecosystem of the $67.8 billion global art market remains mostly hidden behind closed doors. Global art sales have increased 3% year-on-year. After a strong recovery in sales of 31% in 2021, the market is now valued higher than its pre-pandemic level in 2019.
While digitization seemed to have had an influence on the democratization of the art market from a buyer and artist perspective, the business behind art and the influence of digital selling on the market remains a mystery to most of us. The art world has become a hybrid one, where relationship building IRL coincides with online sales mechanisms, creating a business that’s becoming increasingly layered. Made up of a variety of players, including artists, galleries, collectors, investors and auction houses, everyone who’s part of the market has their own rolodex of contacts – relationships that are often years in the making – that might lead to sales. While some try to become part of the existing guard, others are building ecosystems of their own, creating platforms that make art more accessible or more welcoming to first-time buyers and sellers.
While it’s one thing to understand the players and markets – or decide to remove yourself from the existing model – you can only play the game if you know the rules. Many have spoken about the art market becoming more inclusive, but as long as there’s no transparency on the inner workings of the industry, there’s no real way for new artists, collectors, galleries and investors to participate.
FARIDAH FOLAWIYO
Faridah Folawiyo is the founder of FF Projects, and an independent curator and researcher with a special focus on contemporary art from the Black world. FF is a nomadic curatorial platform that encourages artists to experiment and converse with each other. Through exhibitions and publications, FF aims to move Black art around the globe, looking at the way it can travel around the world, and what it can give to (and get from) different contexts.
KAREN FOSS BECKER
Karen Foss Becker is the Gallery Director of Copenhagen-based contemporary gallery Brigade. With interdisciplinary degrees branching business and the creative industries, her experience spans the primary and secondary art markets, acquired in her former role as a consultant for Sotheby’s. Foss Becker is committed to creating a platform for emerging international art, seeking out representations and collaborations that expands the perception of what art can be and do.
AINDREA EMELIFE
Curator and art historian Aindrea Emelife has quickly become one of the ground-breaking new voices in the art world. Her knowledge of modern and contemporary art, with a focus on questions around colonial and decolonial histories in Africa, transnationalism and the politics of representation has led her to produce highly acclaimed exhibitions for museums, galleries and private collections globally. Emelife is currently the curator of the Modern & Contemporary department at MOWAA (Museum of West African Art), a new museum that’s being built in Benin City, Nigeria. She’s also the curator of the Nigeria Pavilion at next years Venice Biennale (2024).
SOPHIE MERRELL & ISABELLA ROTHMAN
Founded in 2020 by Isabella Rothman and Sophie Merrell, Wondering People is a thoughtfully curated art collective that sources original and editioned works by British & international artists. Together the duo find artists to showcase to the Wondering People audience both online and offline. Since 2020 – Wondering People has hosted a series of supper clubs, exhibitions and continues to champion creatives by giving them a platform that is accessible and inclusive for work to be presented in a way where discovery is priority for both artist, ‘wanderer’ and collector alike.
We asked five industry insiders to share their insights on the business behind art.