Review the state of the market of video art

French information portal offers an overview of the market artprice.com video art.

Videoart still included in the category of "youth arts." It is still an infrequent visitor to the auction, it does not organize the individual thematic auction and do not create special sections in the auction houses, such as for photography. Events related to video art, media coverage is very quiet, and the sale of works of video art has not yet formed a stable market models.

Tatsuya Miyajima TLSakura Source: mutualart.com < /a>

WILLIAM KENTRIDZH Set flute Source: artmarketmonitor.com < /a>

However, video art shows around the world. Its elements - festivals, and the audience relates to it all with great interest.

In the first half of 2011, worldwide revenue from the auction sales of contemporary art totaled 497 million euros. Of these, 32 million accounts for photographs (6.8%), and only 4 million (0.4%) - the share of new media. However, these segments of the art market vary by age and can not yet develop an equal.

Video installations and other multimedia works differ from the usual works of art that require the specific submission and promotion. Moreover, all the more urgent with the development of new technologies is the problem of obsolescence of such works. It is always possible to transfer video from one carrier to another or transfer it to another format (if it has the consent of the author), but collecting it is engaged in a small circle of fans of the genre, others may be deterred by difficulties associated with the show, and the restoration of the unauthorized copying of video art .

These are the main reasons for the market to cool attitude video art and light installations and other works of new media. However, this rule there are exceptions: video works by artists such as Bill Viola (Bill Viola), Nam June Paik (Nam June Paik), Felix Gonzalez-Torres (Felix Gonzalez-Torres) and Mike Kelly (Mike Kelley) has consistently shown good results at auction. However, it is clear that stable prices are high only for video work of artists with the name.

Thus, the high status of the founding father of video art, Korean-American author of Nam June Paik, in 1959, deliberately distorting image on the film with a magnet, was confirmed by his new personal record set in May 2007: The Hong Kong office when Christie's sold his work "The Wright brothers' for 4.2 million Hong Kong dollars (540 thousand U.S. dollars /364,000 euros). And not so long ago, May 11, 2011 by Pike came close a South African artist William Kentridzh (William Kentridge): his "Configuring Flute" has earned at New York's Sotheby's auction of 500 thousand dollars (348,400 euros).

Recent trends can be called a major breakthrough Asian artists in the market of video art. If you take fifteen of the leading video and svetohudozhnikov-up period from July 2010 to June 2011, a third of them will come from Asian countries. Loudly claimed their rights of Japanese Tatsuya Miyajima (Tatsuo Miyajima): he set a new personal record, earning 232,000 euros per video «TLSakura». Do not stay in debt to the Chinese Hui Li (Hui Li) with the work of the "Ark number 2" (162 to 460 euro gonkonskih auction Christie's May 25, 2008). Pleased and compatriot Lee, artist Qiu Zhijia (Zhijie Qiu) with a new record this year - 135 thousand euros at auction at Christie's in Hong Kong, May 29 for his work "a thousand times to write a preface to the book" Orchid Pavilion "." Light installation "Lumiere guilty" Chinese Chen Chen (Zhen Shen) 11 May this year, was sold at Sotheby's in New York for 125 thousand euros, and the product Koreans Lee We Lie «Crossover Georges Pierre Seurat» May 29 at Christie's in Hong Kong has earned 36 000 euros.

increased interest in collecting video and other interactive works of art is inextricably linked with the evolution of technology and the advent of new technologies in everyday life, as well as the changes that technology brings to our perception of art. Market Outlook works of video art depends on whether there will in the near future a significant change in our habits and attitudes and will determine whether our relationship with works of art less "material". However, today, at the dawn of the era of the Internet and social networks, we can predict that video art and other interactive works great future, and the "dematerialization" of art, which can occur due to the Internet, can become a new stage in the development of the art market.

Prepared by Mary Estrova, AI

Source : artprice.com < /a> , artinvestment.ru

on the market of video art as the materials read « The most expensive video work » and « ​​Contemporary art market in figures . Part II ».