Appreciating art in the global economy
The art market is big business. Worldwide, about $40 billion dollars are involved. Large sales involving expensive works that cost millions still attract a lot of media attention. It is interesting to see how art prices are related to general global economic developments. At the same time, there are various shifts in the trade and financing of art, for example, from auction houses to dealers. The online market is growing, and new technologies like blockchain are making their entry. Do art collectors still look at the value of their collection with the same eyes? What factors cause the value change over the years and what challenges are involved in this?
This lecture is part of traditional series of lectures for alumni; the UM Star Lectures. The other 12 lectures are organized in 12 different cities and 4 countries on the same day at the same time. This event is organized to reach out to and inspire alumni, share academic insights, experiences and memories and to create an interconnected UM Alumni Community.
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About the speaker
Professor Rachel Pownall holds the TEFAF Chair in Art Markets, and is a Professor of Art and Finance at the Finance Department at the School of Business and Economics at Maastricht University. In 2017 she authored the TEFAF Annual Art Market Report. Her research has been published in leading international peer reviewed journals, and covered in The New York Times, Forbes Magazine, The Financial Times, The Times, The Telegraph, Het Financieele Dagblad, the Handelsblatt and the NRC.
Read an interview with Rachel about her research and the UM Star Lecture.