M3: Art Market Flashcards
The best way to
describe how works of
art are sold and
purchased
ART MARKET
One of the functions of art market
is to __
expose the art to the public.
Art market sells artworks such as
___
paintings and sculptures to
showcase what artists can create.
Another thing is to convert the
___
intangibles into fungible value.
× 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.
Primary market
The artwork enters the secondary
market when a buyer decides to sell
the artwork he purchased from the
primary market.
Secondary market
The most popular actor of the
secondary market is the __
auction
house.
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.
intertwined
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 ___
Leon Gallery Auction House
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.
Salcedo auctions
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.
Avant auctions
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.
Art in island
Art
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
Art fair Philippines
An annual event that offers visitors a variety of painting, prints,
photographs, sculpture and new media from P50,000 and below.
Art in the park
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.
Nova gallery
Artists in 30s and 40s
Prices ranging from P5 million to P10 million
“Eksit sa Itaas” (1998), P2.4 million
Alfredo Esquillo Jr’s
“the most expensive living artist in Philippine art” –Forbes Philippines
Ronald Ventura
From P100,000, now range between P5 million and P10 million
Ronald Ventura
for P47 million at an auction in Hong Kong
“Grayground”
From P800,000 to P5 million (5 years)
Hernando Ruiz Ocampo
(1967), P36 million at Salcedo Auctions
“Pagoda”
Parisian Life, P46 million
“España y Filipinas”, P130 million
Juan Luna
Chief executive of low-cost housing developer 8990 Holdings
Juanario Jesus Atencio III
Collection of Francis Bacon, Willem de Kooning, Andy Warhol and Takashi
Murikami
Robbie Antonio
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.
DISSEMINATE
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.
PROTECT
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.
PRESERVE
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.
PROMOTE
