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Main page / "Knowledge. Understanding. Skill" Journal / Contents / 2014 / No. 4

Golman I. A. Criteria of Selecting a Contemporary Artist for Active and Passive Investment in the Art Market

(Moscow University for the Humanities)

Abstract ♦ The article is a new installment in the series of studies on how standard marketing procedures can be applied to contemporary Russian art and adapted to suit the realities of Russian art business.

Acquiring and implementing such knowledge and skills in contemporary Russian art business is sure not only to produce a major economic effect but also to improve the development of art and culture in the country and enhance the representation of Russian art abroad. All of these factors make our study ever more topical and sought-after, especially since the curricula of even higher art schools in Russia have never featured the basics of economics and marketing.

The author assesses the practical outcomes of applying standard and adapted marketing procedures, introducing two new terms: active and passive investment in art. We have updated our earlier definition of a contemporary art object as a commodity by adding low liquidity as another crucial factor. The selection of art objects and their authors is of critical importance for further promotion, given that investment remains active.

Ten years of practical work in the Russian art business helped us outline and study the criteria for selecting the artist for active and/or passive investment in his/her work. These criteria involve such factors as the active investor’s personal attitude to the artist’s work; the number of his/her works available for purchase/sale on the market; the chances and practicality of monopolizing the artist’s representation on the market; the assessment of accumulated archives, their availability and the artist’s willingness to sell its items; the evaluation of the artist’s creative capabilities and the presence of his/her unique “signature style”, of the versatility of his/her talent, business and legal adequacy, personal decency, general and special education.

We conclude by making it clear that the knowledge and skills outlined above and throughout the article will help solve marketing problems in Russian contemporary art.

Keywords: art market, contemporary art, author, art object as a commodity, marketing, commercial promotion of art, criteria for selecting artists, criteria for selecting art objects, investment in art objects, promotion of artists.


Golman Iosif Abramovich, Candidate of Technology, Professor, Department of Advertising Theory and Mass Communications, Moscow University for the Humanities; Creative Director, Art-Gnezdo Gallery. Postal address: 5 Yunosti St., Moscow, Russian Federation, 111395. Tel.: +7 (499) 374-54-51. E-mail: i7591@yandex.ru

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Citation: Golman, I. A. (2014) Kriterii vybora sovremennogo khudozhnika dlia aktivnogo i passivnogo investirovaniia na art-rynke [Criteria of Selecting a Contemporary Artist for Active and Passive Investment in the Art Market]. Znanie. Ponimanie. Umenie, no. 4, pp. 137–147. (In Russ.).

Submission date: 30.08.2014.

RUSSIAN VERSION


REFERENCES

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Golman, I. A. (2002b) Reklama plius. Reklama minus — 2 [Plus Advertising, Minus Advertising — 2]. Moscow, Gella-print Publ. 288 p. (In Russ.).

Golman, I. A. (2004) Reklamnaia deiatel'nost': planirovanie, tekhnologii, organizatsiia [Promotional Activities: Planning, Techniques and Organization]. 3rd edn., revised and enlarged. Moscow, Gella-print Publ. 352 p. (In Russ.).

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Golman, I. A. (2013b) Rossiiskii art-rynok sovremennogo iskusstva s tochki zreniia marketologa [The Russian Market of Modern Art in Terms of Marketing]. Znanie. Ponimanie. Umenie, no. 4, pp. 195–201. (In Russ.).

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Khudozhnik Ixygon [Ixygon the Painter]. ARTinvestment.RU. Investitsii v iskusstvo. Forum [online] Available at: http://forum.artinvestment.ru/showthread.php?t=42355 [archived in WebCite] (accessed 12.08.2014).



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