According to the economist Clare McAndrew’s annual report for Tefaf, the art market is at an all-time high but there are fewer sales happening at higher prices, as the Art Newspaper reports. The Tefaf is open from Friday until 22 March in Maastricht in the Netherlands.
Key findings of cesifo research paper “Music in the Air: Estimating the Social Return to Cultural Amenities” include:
- Culture is expensive but worth it: Expenditure on cultural institutions have a positive effect on income in the region
- The ifo researchers understand their results as an argument supporting subsidies for cultural institutions
- According to their research on opera houses it is unclear, however, whether a country as a whole benefits from investment into individual region’s cultural sector
A comment in the SZ hence warns cities and municipalities to cut the culture budgets under the influence of current financial pressure: These cuts may seem quick and easy but could have devastating indirect effects.
Just discussed this issue with a colleague – and here The Telegraph reports on a recent ruling: Caravaggio in court: Sotheby’s wins case after ‘£10m’ painting sold for £42,000
A comment on Art Basel in Miami Beach, and a contribution to the debate about the role and the effects of the growing number of art fairs: here on ArtNet.
Critics fear this might be only the beginning of selling from the state’s art collection to help fill household gaps. Read more: RP-Online: Umstrittener Verkauf. NRW-Warhols in New York für 151,5 Millionen Dollar versteigert and faz.net: Fort mit dem Nutzen. Die Warhol-Versteigerung des Landes Nordrhein-Westfalen erhitzt die Gemüter. Warum aber gibt es überhaupt staatlich finanzierte Kultur und nicht nur den Kunstmarkt?
@ Qatar National Convention Centre, Doha, Qatar.
Addendum (1): Holly Bynoe’s highly recommendable article in Arch Magazine, “Parallelisms: Intimacy in the Informal, Reporting from CIMAM 2014” (January 30, 2015)
Addendum (2): See the Doha 2014 report and videos online (February 11, 2015)
In der Süddeutschen Zeitung.
Dagmar S. Saschek
cleine consulting company gmbh
fax: +49 211 4847 1450