Understanding Art Markets: Inside the world of art and business by Iain Robertson

The art market is a world fraught with depth, complexity, and secrets. It has mostly remained opaque to those who are not insiders – until now. Iain Robertson’s book, “Understanding Art Markets: Inside the World of Art and Business,” is a riveting account of his personal journey and insights into this unique and largely hidden world.

Robertson explains how the art market has been dominated by a few privileged agents, who keep the prices of artworks artificially inflated. He offers a refreshing radical view of a market long driven by sensational and privileged personalities. His investigations take readers from the highest levels of the international art scene to the ‘grey’ market of works offered privately or informally.

The author highlights how, in recent years, there has been a fundamental shift in the way art is bought and sold, with the emergence of online auctions, galleries, and virtual platforms. He explores the increasing importance of relational and brand-centric networks and argues that digital technologies have become “the universal currency of creativity and value”.

Robertson presents a comprehensive picture of the world of art and business, providing valuable insights into the economics, politics, and culture of the art market. He explains the increasing importance of corporate sponsorships and the growth of private collections in the global art market. He also touches on the growing importance of art funds and the role of public institutions, in particular collectors of contemporary art.

In an enlightening chapter, Robertson investigates how buyers, sellers and the art media construct the story of the art market. He discusses how the media have helped to transform the sanctity of auctions, galleries and the private art market. He also examines the changing nature of private art dealing, questioning the power of dealers, galleries and museums.

Throughout the book, Robertson reveals the politics and networks of the art world, making sense of the often-opaque nature of buying and selling art. He reveals corruption and patronage in the art market and the hidden alliances between collectors, dealers and galleries. He offers advice and practical knowledge on how to navigate the art market, including the best places to purchase art – whether online or in person, and how to assess an artwork’s value.

Essential reading for art and business lovers, “Understanding Art Markets: Inside the World of Art and Business” is a riveting and candid look at the art market and its key players. Robertson’s book provides invaluable knowledge for anyone looking to gain a full appreciation of the art market, and how its economics and politics shape the value of art.