According to Dr Clare McAndrew’s 2019 Art Market Report, the global art market accounted for US$67.4 billion last year, an increase of 6% from the previous year, which points to positive growth in the sector. The three main markets, the United States, the United Kingdom and China, remain the strongest accounting for 84% of the global market’s total value.
The other salient points in McAndrew’s report are:
· Millennials emerged as active market participants;
· The online market has witnessed continued growth;
· Auction figures rose by 3% “year on year”; and
· Art fairs continue to play a central role in the global art market.
Sotheby’s Mei Moses Index discerns a shift in market trends; up until recently, Impressionist and Modern Art held a prominent position in secondary market growth. However, over the past two years, it is now the Post-War and Contemporary Art market which has seen the strongest growth, up by 12.8% compared with the Impressionist and Modern Art market at 10.8%.
This shift in investment has been evidenced in newsworthy, strong results for artists such as Jean-Michel Basquiat, Pierre Soulages, Zao Wou-ki and Alberto Giacometti.
Whilst the “Basquiat phenomenon” has garnered an unprecedented command of the art market, with record breaking auction results, and survey/retrospective shows at numerous, prestigious museums and galleries, the perhaps less ‘spectacular’ artists, such as Soulages, Zao Wou-ki and Giacometti for example, have been steadily accruing value; suggestive of a more educated sector of the market re-assessing previously over-looked historical masters and preferring the ‘long game’ investment.
©Catherine Asquith 2019
Artist, write and educator Adam Geczy’s Transorientalism in Art, Fashion and Film (Bloomsbury 2019) investigates the notion of “transorientalism” as distinct from “orientalism”, a term which acknowledges the globalisation of cross-cultural identities and how they are now being portrayed.
“While the familiar orientalisms persist, transorientalism is a term that covers notions like the adoption of a hat from a different country for Turkish nationalist dress, the fact that an Italian could be one of the most influential directors in recent Chinese cinema, that Muslim women artists explore Islamic womanhood in non-Islamic countries, that artists can embrace both indigenous and non-indigenous identity at the same time.” For Geczy, “the diversity of race and culture, the manner in which they are expressed and transacted, are most evident in art, fashion and filme”.
Nasim Nasr’s art practice which focusses on the transience of cultural and personal identity is suitably highlighted in Geczy’s text, amongst other notable artists such as Shirin Neshat (Iran/USA), Mona Hatoum (Lebanon/London), and Ghada Amer (Egypt/France/USA).
For all enquiries regarding Nasim Nasr, including a copy of a catalogue of works, please email me at email@example.com