Art Market In The 20th Century

In this essay, I will firstly introduce the general account of the art market in the 20th century, including the historical background, significant development of the art market. Then, analyze its art market changes influenced by the social issues in the 20th century, including globalization, art auction and the modern art movement as well as reflecting the actual value with theoretical support. Lastly, is a brief conclusion.

20th century art is almost indefinable, and ironically we generally consider that as its definition. This make sense, as we live in a world that is in a constant state of flux. There is not just science changing the outward forms of life but we started discovering the strange centrality of our subconscious desires and

Because of Spaniard Pablo Picasso and the Frenchman Georges Braque splintered the visual world not wantonly, but sensuously and beautifully with their new art. They provided what we could almost call a God's-eye view of reality: every aspect of the whole subject, seen simultaneously in a single dimension. After Cubism, the world never looked the same again: it was one of the most influential and revolutionary movements in art.

The Cubist movement in painting was developed by Picasso and Braque around 1907 and became a major influence on Western art. The artists chose to break down the subjects they were painting into a number of facets, showing several different aspects of one object simultaneously. The work up to 1912 is known as Analytical Cubism, concentrating on geometrical forms using subdued colors. The second phase, known as Synthetic Cubism, used more decorative shapes, stenciling, collage, and brighter colors. It was then that artists such as Picasso and Braque started to use pieces of cut-up newspaper in their

Victorian paintings and furniture enjoyed such a significant revival that Sotheby’s opened a secondary auction house in London, Sotheby’s Belgravia, specializing in Victoriana. In New York demand rose for Art Nouveau, Art Deco, and photography. Collecting was popularized by auctioneers’ road shows, television programs, and the Pop art movement, which made contemporary art seem more accessible.

The art market itself also became more accessible during this period. Beginning in 1968, the Art Sales Index brought auction prices into the public domain. Books such as Gerald Reitlinger’s Economics of Taste (1960), and later Robin Duthy’s The Successful Investor (1986), suggested that art prices were susceptible to financial analysis.

In terms of the modern art movement, its revolutionized art and culture and set the stage for both Modernism and its counterpart postmodern art as well as other contemporary art