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Contemporary art trends and news from Asia and beyond

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    Art Radar Asia News conducts original research and scans global news sources to bring you selected topical stories about the taste-changing, news-making and the up and coming in Asian contemporary art.

Posts Tagged ‘Turkish art market’

Turkish art another fad? The lowdown on this new market

Posted by artradar on March 5, 2009


In the week of Sotheby’s inaugural sale of Turkish art, Art Radar gets the lowdown on the Turkish art market from Anders Petterson, Managing Director of research company ArtTactic.


Sotheby’s holds its inaugural sale of Turkish contemporary art  this month – why is Turkish contemporary art receiving attention now?

The local art scene in Turkey has experienced a boom in new art institutions since 2004, from galleries, artist-run spaces, privately funded museums and art centres, to art fairs and auctions. At the same time the value of the domestic Turkish art auction market has quadrupled in the eight years after 2000. The international auction houses have been keeping a close eye on these developments and are beginning to test the market now.

But what about the recession? Does it make sense for Sotheby’s to launch a new category now?

Yes this is a valid issue. Arguably this is not an ideal time to launch a new category, perhaps the decision was made in better times. On the other hand there is a base of collectors and strong institutional support. Unlike other emerging art markets this is an art scene with an established infrastructure which has been overlooked by international collectors. Furthermore Christie’s tested the market in October 2008 when it included Turkish modern and contemporary artists in the Dubai contemporary art sale. Eleven of the fifteen lots sold which was a robust result.

Istanbul holds its Biennal in 2009 and will become the European Capital of Culture in 2010 which could give the arts scene further impetus over the next year or so.

Are there any other auction houses selling or planning to sell contemporary Turkish art?

There are several local auction houses and it is rumoured that Phillips de Pury and Bonhams plan to follow in the footsteps of Sothebys.

Is there a secondary market? Which are the leading galleries focusing on contemporary Turkish art?

The gallery scene has expanded considerably over the last two years. New galleries have opened showing  cutting edge art alongside the more conservative galleries which date back to the 80s and 90s. If you are interested in delving further, our report on the Turkish art market profiles approximately a dozen galleries with information about when they opened, who runs them and what kind of art they focus on.

Are the contemporary artists in the Sotheby’s auction new to the auction scene or do they have an auction history?

Out of the artists born after 1950, 44% have never sold at auction and most of the rest have sold a few works in domestic auctions in Turkey. The exceptions are Mustafa Horasan, Kezban Arca Batibeki, Bedri Baykam and Kemal Onsoy who sell frequently at auction.

It sounds like this auction will be an intereting test for the future of theTurkish art market. If it is successful will it be yet another international art market fad?

While this is possible of course, I hope not. In its favour is its strong infrastructure of galleries, curators, museums and not for profits. Read our report for information on the most important of these in each category. Prices of Turkish art are cheap relative to Indian, Iranian and Chinese art and that could help too.

Find out more about ArtTactic’s 20 page report on the Turkish Modern and Contemporary Art Market Feb 2009

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Posted in Auctions, Interviews, London, Market watch, Overviews, Turkish, UK | Tagged: , , , , , , , , , , | Leave a Comment »

Seminars on Turkish, Brazilian, Korean and African art markets London spring 2009

Posted by artradar on January 10, 2009


ArtInsight, the events partner of ArtTactic will hold a series of exclusive evening Seminars & Receptionson focusing on four dynamic new art markets  “each contributing to a major transformation in the global art market, and presenting fresh opportunities for collectors, institutions, & art professionals”.
Each Seminar will include an in-depth panel discussion, led by Anders Petterson (ArtTactic Founder & MD), which will provide essential background and insider knowledge of the particular art market together with insights from leading figures in each market; key collectors, senior auction house executives, gallerists, journalists & critics.
The Turkish Art Market : February 24th, 2009
The Brazilian Art Market : March 10th, 2009
The Korean Art Market : March 24th, 2009
The African Art Market : April 21st, 2009

For more info about the seminars

For more posts about courses, Korean art, reports from London

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