Monday, January 12, 2009

Rand Report on Contemporary Art

Highlights from the Rand Contemporary Report on Contemporary Art (2004):

-75% of American art museums were founded after World War II, yet a majority of the artists shown in them were dead before the end of World War II

-“indirect government support for the arts through tax policies provides considerably more funding for the arts than does direct funding.”

-“Because judgments of aesthetic quality are increasingly esoteric, aestheticism has dramatically limited the fraction of the population that takes part in the arts discourse.”

-“According to recent estimates, there are 700-800 galleries and museums in New York City today” {4 some years later, I wonder if there are more?}

-“And for all the talk about ‘supercollectors’ like Charles Saatchi, who can shape entire arts market segments, no collector today comes close to the spending power of royal patrons and early capitalist tycoons”
-400,000 serious collectors worldwide who spend at least $10,000/yr on art
-250-350 very serious collectors (collection worth worth at least $1million)
-Sotheby’s has 100,000 serious private clients
-but only 20 to 30 people who buy $5 million paintings and 10 to 15 for those over $10 million

-65% of living artists are designers
-3/4 of all profressional artists hold non-arts jobs at least part of the time
-median annual income from art of $718
-only 5% earn over $10K from art

-“California passed a law requiring artists to receive a percentage of subsequent sales of their work, but it is rarely if ever enforced.” [!]

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