Artspace Warehouse Adds New Layers of Transparency to the Accelerating Globalization Transforming the Art Market

The classic art market which focused mostly on exhibitions and art sales in brick and mortar galleries and art auctions is increasingly fractured into new channels.

Los Angeles, CA, October 27, 2017 --( The number of international art fairs have multiplied manifold while the number of online marketplaces for original art has been increasing rapidly as well. At the same time auction sales in the US and Europe have dropped considerably while private dealers have gained market share, now accounting for the majority of the market.

Art Fairs have sprung up in every corner of the globe, trying to attract enough galleries and/or artists to exhibit and hoping to entice enough art enthusiasts to visit. Some have been successful, many have failed and the art fair landscape is rapidly evolving. International art fairs such as Art Miami and Art Basel Miami have contributed to attract thousands of art lovers to travel to Miami each December. Over a dozen art fairs followed suit, opening their doors simultaneously during Art Basel Miami, all vying to attract large pool of art collectors, museum curators and directors.

The new art scene caters to many of today’s art collectors who want to see an enormous number of artworks in a short period of time. It favors artists who are more established because successful art fairs can be quite selective in choosing exhibitors. This comes at the expense of emerging artists and newer galleries which often are left exhibiting at local or lesser known art fairs which fail to attract the international clientele.

While art fairs have proliferated in many cities they also have shut down in places, evidence of numerous galleries losing huge sums and time they invested. The overall sales numbers many art fairs promote are often skewed by a few major sales since the majority of the overall art market is dominated by very large sales by blue-chip artists. Of three art fairs in the Hamptons only one fair was left over in 2017. Houston saw a major art fair shutting down in 2017. Los Angeles had attracted over six major international art fairs and all of them but two quietly disappeared again.

The globalization of the online art world has helped open up the art market to anyone with internet access, providing access to a huge array of artworks. While online platforms have helped many artists put images of their artworks in front of consumers, the curation of the artwork selection has been a major issue. Many platforms lack the staff to properly curate the thousands of artworks added daily to the sites. While these often promise an easy return of artworks, the significant cost of shipping artworks often prevent customers from returning artworks and leave them hugely disappointed with the process. Nevertheless, online art sales will continue to grow as younger buyers and their use of social media will keep contributing to the increase in online art sales.

The transformation that pushes the accelerating globalization and easily accessible information in the art market keeps evolving. Art galleries are increasingly collaborating in order to cover the high costs of exhibiting at international art fairs. Online marketplaces have steadily increased the cost for artists and galleries to promote themselves on online art platforms in order to cover the high cost of maintaining such sites. Auction houses in turn have increasingly collaborated with independent digital platforms. Art trends keep fluctuating. The future of the art market is as unpredictable as always.

Art galleries keep evolving to master the changing art landscape. Artspace Warehouse Los Angeles found its own niche, specializing in affordable international original art, giving a new meaning to shopping for museum quality art within one's budget. The large gallery offers art lovers a way to easily start their own super-coolest art collection of established and emerging international artists or add to their existing collection. Original museum quality art does not have to be expensive nor does a gallery have to be intimidating. The high-quality art selection proved very successful when clients such as the Weisman Museum started purchasing artworks at Artspace Warehouse and numerous illustrious art collectors as well as celebrities, major movie studios and many well-known interior designers followed.

Artspace Warehouse is on Beverly Boulevard in Los Angeles and without breaking the bank anyone can snatch up a great piece of art to start, continue or complete a collection at home or office. The gallery has succeeded in merging the experience on its new online art platform with the traditional art gallery model and international art fairs setting, offering a new transparency in the art market and new opportunities for emerging artists and art collectors.
Artspace Warehouse
Claudia Deutsch