Art work trading which used to be conducted by a few people from privileged class now attracts attentions from majority of the public with stable economic situation. As the number of society members who want to purchase art works is getting increase, ...
Art work trading which used to be conducted by a few people from privileged class now attracts attentions from majority of the public with stable economic situation. As the number of society members who want to purchase art works is getting increase, it has become a new challenge to produce a new trend in art market through professional management and transparent process.
With this new trend, various distribution channels such as gallery, art museum, auction, art fair and art market have been created and demand class has been diversified to general collector, professional collector, visitor, art museum, enterprise and gallery. Given with this change in art market, artists are making efforts to promote themselves for their rights to live and seeking for the environment in which they can only concentrate on work activity. However, in the reality, there is no systematic and official standard to handle the price of works of artists that are on the market while there are certain standards widely accepted. Those standards can be awareness, reputation of the artists and how much their works are traded on the market and these are matched with factors that create the reputation of artists. It is also found that exhibition experience at art museum plays a very important role among the factors creating the reputation of artists. Therefore, this research is to find out correlation between art museum and art market by comparing price fluctuation of the works of artists who have participated in Art Museum exhibition. Even though, targeted subjects were restricted to those art museums located in America, price of the works of 5 artists participated in exhibition held at the museum was temporarily increased from the exhibition period. This shows that exhibition activity at art museum largely influences artists and art market.
This research result suggests solutions in terms of appropriate role of museum that influences modern art market. Art museum can be recognized as public organization but also it can be the place to lead visual culture art of the society. Therefore, art museum should present right standards to art market by planning exhibition through continuous studying of liberal arts and evaluation artists realistically. This means exhibition needs to be held based on deep-understanding and research on the art work and the artist rather than based on short-term performance and promotion. Creator of art and artist are the main elements of art and art works can become real art when they are acknowledged by public. So holding a fair and high class exhibition at art museum can provide the opportunity to artist while promoting the entire art industry as well as art market. Eventually, promotion of art market will make the environment for artists to focus on creating art works. Art museum needs to take the lead in raising the value of art and culture area that is organically connected.
There have been limitations on some of conditions and art museum and artists were also restricted to 5 conditions. However, it is needed to activate the researches to analyze the correlation between art museum and art market and it is hoped that this research can serve as a basis to create developmental and transparent art market in the future.