Looking beyond the recent recession, the world of contemporary art has flourished into an entirely new commercial sphere in the past few years. Prices have soared and artists have become internationally renowned superstars.
Art world gossip has circulated on a level comparable to Hollywood and now there are books coming out that bring to light different aspects of and juicy information on the inner workings of the contemporary commercial art world. Strangely enough, these books have been mostly advertised in art world-specific magazines with an art world-limited readership.
I have seen them personally advertised throughout the Chelsea art galleries to people who wouldn’t exactly learn anything new from these publications. From what I’ve seen however, they are definitely of interest to those outside with romanticized notions of what the art world should be.
Art World Exposes
Tell-All Books That Shatter the Notion of a "Romantic" Art World
Trend Themes
1. Commercialization of Contemporary Art - The booming world of contemporary art has become a new commercial sphere, creating opportunities for unconventional business models to serve the art industry.
2. Transparency in the Art Industry - Demand for transparency in the art world, driven by exposes on the potentially unethical practices of the industry, is creating an opportunity for innovative technologies and services to increase accountability.
3. Redefining Perceptions of the Art World - The rise of tell-all books about the art world that shatter romanticised notions is leading to opportunities for innovative marketing strategies and new audience segments for galleries and museums to target.
Industry Implications
1. Publishing - There is an opportunity in the publishing industry to tap into the growing demand for books on the inner workings of the contemporary commercial art world.
2. Art Galleries and Museums - Galleries and museums have a disruptive opportunity to target new audience segments through marketing strategies that challenge existing perceptions of the exclusivity and opaqueness of the art world.
3. Art Market Analytics - Innovative art market analytics companies have an opportunity to use new technologies to provide the industry with greater transparency and insight into pricing and market trends.