Article: Art markets in crisis: how personal bonds and market subcultures mediate the effects of COVID-19.
American journal of cultural sociology
2020 Volume 8, Issue 3, Page(s) 462–476
Abstract: We examine how the contemporary art market has changed as a result of the disruptions caused by the novel coronavirus. Based on interviews with artists, collectors, a dealer, and an auction house executive, we argue that the decline of face-to-face ... ...
| Abstract | We examine how the contemporary art market has changed as a result of the disruptions caused by the novel coronavirus. Based on interviews with artists, collectors, a dealer, and an auction house executive, we argue that the decline of face-to-face interaction, previously essential to art market transactions, has placed strain on each corner of the community. In the absence of physical co-presence with the artworks and art world actors, participants struggle to evaluate and appreciate artworks, make new social ties, develop trust, and experience a shared sense of pleasure and collective effervescence. These challenges especially impact the primary gallery market, where participants emphasize a communal commitment to art above instrumental speculation, which is more accepted in the secondary auction market. We find a transition to distant online communication, but the likelihood of this continuing after the lockdowns end and the virus dissipates varies according to the subcultures of these market segments. |
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| Keywords | covid19 |
| Language | English |
| Publishing date | 2020-10-07 |
| Publishing country | England |
| Document type | Journal Article |
| ZDB-ID | 2775179-X |
| ISSN | 2049-7121 ; 2049-7113 |
| ISSN (online) | 2049-7121 |
| ISSN | 2049-7113 |
| DOI | 10.1057/s41290-020-00119-6 |
| Database | MEDical Literature Analysis and Retrieval System OnLINE |
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