M3: Art Market

Question 1

The best way to
describe how works of
art are sold and
purchased

Answer 1

ART MARKET

Question 2

One of the functions of art market
is to __

Answer 2

expose the art to the public.

Question 3

Art market sells artworks such as
___

Answer 3

paintings and sculptures to
showcase what artists can create.

Question 4

Another thing is to convert the
___

Answer 4

intangibles into fungible value.

Question 5

× It is defined as the market place
where an artwork is sold or acquired
for the first time.
× This is the time when the price for
the artwork is established for the first
time.

Answer 5

Primary market

Question 6

The artwork enters the secondary
market when a buyer decides to sell
the artwork he purchased from the
primary market.

Answer 6

Secondary market

Question 7

The most popular actor of the
secondary market is the __

Answer 7

auction
house.

Question 8

The primary and
secondary art markets
are
__. It is
therefore important not
only to follow the
secondary market in
order to build
appreciation of artists’
works.

Answer 8

intertwined

Question 9

Primarily known as the leading gallery specializing in historically
important and museum quality Philippine art. Paintings such as made by
Juan Luna, Felix Resurreccion Hidalgo, Fabian de la Rosa, and Fernando
Amorsolo are in the core of ___

Answer 9

Leon Gallery Auction House

Question 10

The only auction house in the Philippines to specialize in the sale of fine
art, jewelry, decorative arts and collectible accessories by leading local
and international artists and artisans.

Answer 10

Salcedo auctions

Question 11

The first auction house in the Philippines that offers real-time online
auctions for high value assets such as fine arts. They also include selling
watches & jewelry, automobile and prime real estates.

Answer 11

Avant auctions

Question 12

an interactive museum and one of the biggest 3D art
museums in Asia. Art Market, an event trademark of Art in Island, is
where artists and artists-at-heart can display their art products and
services and where families and friends can enjoy and appreciate art at
the same time.

Answer 12

Art in island
Art

Question 13

The premier platform for exhibiting and selling the best in modern and
contemporary Philippine visual art. It aims to mirror the vibrant local art
scene and continue to generate support for Filipino art practitioners

Answer 13

Art fair Philippines

Question 14

An annual event that offers visitors a variety of painting, prints,
photographs, sculpture and new media from P50,000 and below.

Answer 14

Art in the park

Question 15

It has been showcasing the best in Filipino artistry since 2010. Its
objective is to encourage collectors and artists to profound their
appreciation of current local artistic production.

Answer 15

Nova gallery

Question 16

Artists in 30s and 40s

Answer 16

Prices ranging from P5 million to P10 million

Question 17

“Eksit sa Itaas” (1998), P2.4 million

Answer 17

Alfredo Esquillo Jr’s

Question 18

“the most expensive living artist in Philippine art” –Forbes Philippines

Answer 18

Ronald Ventura

Question 19

From P100,000, now range between P5 million and P10 million

Answer 19

Ronald Ventura

Question 20

for P47 million at an auction in Hong Kong

Answer 20

“Grayground”

Question 21

From P800,000 to P5 million (5 years)

Answer 21

Hernando Ruiz Ocampo

Question 22

(1967), P36 million at Salcedo Auctions

Answer 22

“Pagoda”

Question 23

Parisian Life, P46 million
“España y Filipinas”, P130 million

Answer 23

Juan Luna

Question 24

Chief executive of low-cost housing developer 8990 Holdings

Answer 24

Juanario Jesus Atencio III

Question 25

Collection of Francis Bacon, Willem de Kooning, Andy Warhol and Takashi
Murikami

Answer 25

Robbie Antonio

Question 26

Art is being spread through
exposing them to public such
as auctions and in art
market. Another way of
disseminating art is through
newspapers as cartoons,
illustrations, commercials
and even in television
sitcoms and MTV.

Answer 26

DISSEMINATE

Question 27

Art Market and auction
houses should always
protect and preserve the
artworks which they will sell
and/or cater to the market.
Before exposing it to the
public, auction houses will
have to examine the
conditions of the product.

Answer 27

PROTECT

Question 28

Art market used to preserve
artworks through the use of
high quality mediums and
materials. Another way to
preserve the artworks is to
place it in museums.

Answer 28

PRESERVE

Question 29

Modern method of
promoting and advertising is
now mainly through social
media such as facebook,
twitter, instagram, websites,
and others. It is the most
accessible nowadays.

Answer 29

PROMOTE