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Art Law Recent Developments in Art Litigation and Art Finance

Art and Finance – Similar Markets?

Posted in Art Finance

In this article, Marc C. Taylor discusses the parallels and relationship between finance and Modern Art.  He finds that in both markets, concepts are becoming more abstract and trading faster paced.

According to reliable estimates, in fact, the private art market reached 25 to 30 billion dollars by 2006 just as obscure financial instruments gained momentum.  In addition, corporations and high net worth individuals use art to show their wealth.  

The commodification of art itself has become popular, with artists like Warhol and Koons achieving the highest prices with works made with commercialization in mind.

[This article was drafted with the assistance of Nicole Dornbusch].