For many sellers of high-value goods, the biggest hurdle for a successful eCommerce strategy is simplifying or automating logistics and fulfillment, a nuanced and complex endeavor for items requiring specialized handling. Moreover, consumers are looking for the same, frictionless experience they encounter when buying other types of goods digitally; namely: upfront shipping costs and single click checkout.

As a result, players in the luxury market must adapt to meet the evolving needs of their customers. And it starts with a seamless eCommerce experience, from pre-sale to fulfillment.

The Past

Safely transporting these often fragile, oversized, and valuable objects requires specialized handlers, transit insurance, and other niche services. Because a single seller could need multiple carriers to adequately ship their goods to buyers, and the process for shipping has been manual and fragmented to date, there is a high barrier to entry for online sales of high-value goods. For this reason, buyers often find a “click to inquire” button when browsing items for sale online, as opposed to a “buy now” button. It’s time for sellers to evolve and meet consumer expectations with an end-to-end online purchase experience.

The Present

With this surge in digital initiatives — accelerated by COVID-19 and changing consumer behaviors — marketplaces, auction houses, galleries, and other online sellers are focused on delivering an eCommerce experience that meets the evolving needs of the market, including a more seamless purchase and fulfillment experience. Sellers today need to provide greater transparency into shipping costs during the buyer consideration phase, so users have a clear picture of total costs upfront. It is also critical to deliver a seamless click-to-buy transaction, including automating end-to-end fulfillment and returns.

The Future

As the world opens back up and life returns to a new normal post-pandemic, galleries, sellers, and auction houses will need to approach the market in a new way. While consumers will slowly return to in-person shopping, the rise in eCommerce won’t subside meaning consumer shopping patterns have inevitably changed forever.  By delivering an end-to-end eCommerce experience that eliminates the inherent friction in selling unique items online, this industry can finally realize the promise of reaching a bigger market and can capitalize on the demand for these types of items.

The next wave of global commerce — where any item, regardless of size, price point, or fragility can seamlessly be bought and sold online — is here, and it’s time for sellers to evolve their strategies.

About the Author: Adam Fields is the Founder and CEO of ARTA, which automates shipping and fulfillment for high-value and collectible objects. ARTA’s software provides instant shipping costs for any item type—regardless of size, material, or price point—allowing clients to reduce overhead, scale faster and offer a frictionless purchase experience for their buyers. Prior to founding ARTA, Adam was a Vice President at Artspace.com, where he became hyper-aware of the difficulties that came with shipping art for both online and offline sellers. With end-to-end global fulfillment services including shipping, packing, tracking, and insurance, ARTA is an all-in-one logistics solution for merchants and marketplaces. For more information about how to leverage ARTA’s platform to ship everything and anything requiring specialized care, visit shiparta.com.

The post The Impact of Covid-19 on the Luxury Market and What it Means for the Future of eCommerce appeared first on Art Business News.

World Square, a premier shopping center located in Sydney, Australia, recently partnered with creative hot shop VANDAL to commission a sustainable art sculpture. The sculpture was developed by artist Gabrielle Filtz and is titled “Weaving Thru The World”.

“The recycled materials used in the artwork consist of discarded fabrics, ribbons, and rope from old City of Sydney street banners, festivals, and flags – including Mardi Gras festivals. Collected from Reverse Garbage in Marrickville, I loved using discarded materials to create public art, rather than seeing it end up in a landfill.” Says artist Gabrielle Filtz from VANDAL.

World Square Marketing Manager, Marina Zarnitsyna says “Bold, bright, and unique artworks have overtaken the entrances and laneways at World Square, enticing passers-by into the precinct to explore the dynamic mix of over 100 food, fashion, lifestyle, entertainment, and essential service stores. The Spanish Stairs at George Street is one of the highlights of this bold and colorful project.”

Gabrielle Filtz wanted to not only create an oversized public art sculpture but also ensure the artwork could be created in a sustainable fashion. “I’m very proud of the sustainable use of recycled materials,” says Filtz. “I kept asking myself how the artwork can show Sydney, and the wider world, that we are creating a beautiful statement piece and also be mindful of the delicate ecosystem on this beautiful planet of ours.”

After multiple trips to Reverse Garbage in Marrickville, she was sure she had a colorful palette of recycled, reusable mediums to work with.

Filtz used Old City of Sydney street banners, ribbons, rope, and fabrics to create her masterpiece. By purchasing recycled materials from Reverse Garbage, she supported their recycling contributions and also gave life to Sydney’s cultural heritage for art lovers and city-goers to enjoy!

The post “Weaving Thru The World” Sustainable Art Sculpture Unveiled in Sydney appeared first on Art Business News.

Some artists focused on the eerie silence left behind by the intense lockdowns from March to June, while others tried to find ways to spread hope, motivation, and courage even in this bleak time. Unsurprisingly, many graffiti and street artists have incorporated COVID-19 themes into their work this past year.

As the virus is under some control, and lockdowns are gradually being lifted across the world, people have started stepping outside with precautionary measures. Muralists are taking this as an opportunity to utilize public places to showcase art and spread awareness. Toilet papers, face masks, and disinfectants are some of the common subjects of street artists. However, others are emphasizing boosting immunity, enhancing will power, and staying fit.

Here, we share with you some of the most creative COVID-19 themed art adorning cities all over the world. These contributions are popping up with each passing day as artists are becoming more and more involved. Some well-known murals related to COVID-19 are:

The gratitude, dedication, and support provided by healthcare professionals during the COVID-19 crisis are the most common subjects in street art. One graffiti artist in London did a commendable job highlighting the contribution of doctors during the pandemic. In the mural picturized above, the artists paid homage to junior doctors.

He specifically highlighted the contributions of resident doctors because they are constantly putting their lives at risk, work more, and are paid less in comparison to the senior physicians. However, they are still working day and night with full enthusiasm. An artwork specially dedicated to the resident staff boosts their morale and show them that their contributions are appreciated.

At a time when street artists were focusing on common pandemic related themes, Italian street artist Laika took a different step and focused on the restaurant staff. Since eateries are now opening, Laika focused on a Chinese restaurant owner, Sonia, wearing a fully covered gown along with a face mask.

Sonia’s message in Italian translates to “There’s an epidemic of ignorance going around… we must protect ourselves!”The artist tried to give a message that though the restaurants are opening, precautionary measures are still important. People working at the restaurant are equally affected by the pandemic. Thus, they are back to work but at risk and following new operating procedures.

Another great example is seen in Amsterdam, where the famous street artist FAKE painted a nurse with a Superman logo, titled Super Nurse! The nurse is shown wearing a mask, which is a typical representation of COVID-19. What is unusual is that she has the “S” logo of Superman on the front of the nurse’s uniform, reminding everyone that nurses, along with other frontline workers, are the true superheroes. 

The idea is to highlight the exceptional role played by the nursing staff in this condition of turmoil. These nurses are putting their life in danger serving the COVID-19 patients. Not just in the critical care unit, they are also doing the testing. The artwork received great recognition and appreciation globally, and it was selected as a digital art installation in London.

In Germany, another street artist, Uzey, took up his paints to encourage people to stay strong despite the hardships the pandemic has brought. The art shows a fully covered person carrying a pack of COVID-19 germs in his hand. The picture reveals that no matter how covered a person is, the virus is everywhere. Thus, maintaining social distance and practicing isolation is the only safe solution. Various colors used in the artwork are intended to bring some light to the colorless life these days. This street art gives a friendly message to humanity and tries to boost morale.

In Indonesia, a campaign related to COVID-19 murals started in August 2020. This street art in Jakarta quickly gained popularity as it depicts the message very clearly and powerfully. It highlights many things: firstly, it shows that the man is carrying a shield, which is somewhat similar to a mask, and therefore subconsciously, you are made to think that wearing a mask is the best defense against the virus.

Secondly, it brings a message of hope for the masses – it gives strength to the affected individuals for regaining their health. People who are still in a state of fear can also get some motivation from the thought-provoking art. It shows that we can fight and overcome any germ or virus, only if we have the will and if we take the right measures.

Some fans even interpreted the painting with respect to organizations that stood firm to safeguard society. Most notably, healthcare and human service organizations, but also small businesses and individuals initiated small efforts to help their communities from the financial and emotional effects of the pandemic.

For instance, many individuals started campaigns to buy from small businesses in their community to keep them from going out of business. Similarly, small businesses, like cleaning companies, started offering door-to-door and contact-less services for the safety of their clients.

Another street artist drew this painting of a nurse who is covered from head to toe in a gown, gloves, and face mask. She is portrayed as an angel of love with colorful wings. The artist showed how the nurse is ready to go for work. Such contributions for supporting the doctors, nurses, testing professionals, and the janitorial staff seems valuable in this crucial time. These people are the real heroes who are diligently performing their duties in high-risk areas.

Conclusion

In short, COVID-19 murals are brightening the streets across the globe. From humorous and playful styles to more serious and sympathetic themes, street artists have done an excellent job highlighting the issue. From highlighting the importance of healthcare workers to aiming at reviving the mood of infected individuals, each has highlighted the importance of working through the pandemic together.

Along with the artists mentioned here, tons of other artists like Pebsy, Pyritt, AFK, Jesus Cruz, and many others have made valuable contributions. They’ve expressed a collective feeling of fear, rage, and frustration developed during the lockdowns and isolations. And they have also helped us in regaining lost hope.

Thinking out of the box and taking out time in stenciling and painting the walls is a commendable step in uniting the society in this unprecedented time. Was one your favorite?

Author Bio:
Nouman provides ghostwriting and copywriting services. His educational background in the technical field and business studies helps him in tackling topics ranging from career and business productivity to web development and digital marketing. He occasionally writes articles for carpet cleaning. 

The post COVID-19 Murals: Inside the World of Pandemic-Inspired Street Art appeared first on Art Business News.

However, others managed to handle these difficult times and switched to online. This year has been a tough one not only because of these abrupt changes but because of the effects they’ve had on people’s mental health. Not being able to travel, to meet with your friends, and needing to spend so much time inside drained some people of energy and positivity. Mental health problems are on the rise, but so are the solutions that can help people manage these times successfully.

Even though we are not allowed to travel as we did before, there are new options available. You can explore art museums, fairs, and events from the comfort of your own home. Think about the most popular museums and places and the huge queue from the entrance. Now you don’t have to wait in the queue or travel to enjoy them because a new door has opened.

We will share 8 virtual museum tours and interesting events you can attend while lounging comfortably on your couch.

1. Machu Picchu, Peru

You have probably heard about Machu Picchu and the mysteries that surround it. Built in the 15th century, this Inca citadel was later abandoned. Maybe one of the most astonishing things about Machu Picchu is the fact that it is located on a 2430-meter mountain range, in the Andes Mountains.

Taking into consideration the fact that the walls and buildings were built without mortar and they are arranged according to astronomical principles, Machu Picchu became an international attraction. More than 2,500 visitors a day and more than half a million annually were visiting this Inca citadel until 2020.

Now, you can explore the astonishing beauty of Machu Picchu and admire the panoramic views online. This UNESCO Heritage Site can be visited in 360-degree views. During this tour, you will also find out more about its history and mysteries because the voice of a narrator will tell you the story of this Inca settlement.

2. Van Gogh Museum, Amsterdam

Who has not heard about the famous Dutch painter Vincent van Gogh, known for cutting his ear and his unmistakable painting style? He painted over 2,000 artworks, most of them dating from the last two years of his life. Some of these famous paintings can be admired at the Van Gogh Museum in Amsterdam. Here you can find out more about his life, relationship with his brother Theo, and the most used techniques in painting.

Van Gogh Museum can be explored from the comfort of your home. It represents the largest collection of artworks by this tragic painter and you can get the chance to see over 700 paintings and drawings, as well as over 750 personal letters.

3. Great Wall of China

The Great Wall of China is one of the wonders you must see at least once in your life. These incredible artworks created by humans in secluded and inaccessible places arouse your admiration for the human race. However, the Great Wall of China is threatened by climate change and people are trying to preserve it by offering virtual tours. If you head straight to Google’s project Heritage on the Edge and you can explore it in 3D.

4. The Louvre, Paris

We can all remember those endless and discouraging queues in front of the Louvre. It is one of the most famous and visited museums in the world, every year seeing millions of international visitors. However, due to the current restrictions, the Louvre is closed for visitors. But, exploring it through a virtual tour is now possible. You can explore Egyptian artifacts, admire DaVinci’s Mona Lisa, the statue of Venus de Milo, the Code of Hammurabi, and more than 30,000 individual artworks.

5. Guggenheim Museum, New York City

On the list of the most visited and popular museums of the world, the Guggenheim Museum ranks near the Louvre. The architecture of the museum is a monument to modernism that houses art collections and special exhibitions. Guggenheim Museum in New York is a must-see for every age, having lots of exhibitions and galleries to admire, but also amazing architecture, both inside and outside the building. Here you can see artworks by Pablo Picasso, Henri Rousseau, or Paul Cezanne.

6. Georgia Aquarium, Atlanta

Georgia Aquarium is one of the most amazing aquariums in the world. In fact, it is the largest aquarium in the western world, being the only institution outside Asia that houses whale sharks. You can explore the amazing underwater life with a live tour of the aquarium. It has seven major galleries you can visit and learn more about thousands of animals and species you can now see virtually.

7. The Broad, Los Angeles

The Broad is a contemporary art museum in Los Angeles that houses over 200 artworks of the Broad’s collection. Even though the museum generally offers free admission to its galleries, it’s now closed due to the current state of the world. However, you can virtually explore the galleries of The Broad museum, and its most popular room, the Infinite Mirrored Room of Yayoi Kusama. Now you can spend all day in the twinkling abyss of the infinite.

8. A Trip to Mars

Even though real trips to Mars are not available, NASA has teamed up with Google to offer people all over the world a virtual tour to Mars. The Red Planet has always aroused humanity’s interest and now you can explore it in a 3D Virtual Tour and find out more about its surface and history. Thanks to technology, you can explore outer space without leaving your home. How wonderful is this?

Conclusion

The world has changed, and it will continue to evolve in ways we cannot even imagine. For the moment, there are travel restrictions. And for people who love exploring new places and meeting new cultures, this is a major drawback and disappointment. However, to stop the spread of the virus, these restrictions are necessary.

Choosing to see the full part of the glass is important during these times, and it can foster more positive experiences. Virtual tours can be a saving option, especially because you can choose what iconic and historical place you want to explore. You can choose from a wide variety of historical sites, museums, aquariums, and iconic places that can be explored for free, from the comfort of your own home. Give it a try — start exploring and visiting virtually.

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Author Bio: Michael Gorman is a highly skilled freelance writer and proofreader from the UK who offers the essay writer at a dissertation writing service and essay writing service uk. Being interested in everyday development, he writes various blog posts and discovers new aspects of human existence every day. Michael loves traveling, history, and deciphering myths of the ancient world. Feel free to contact him via Facebook or check his Twitter. 

The post Your Virtual Can-Dos: Here Are 8 Virtual Museum Tours & Interesting Events to Enjoy appeared first on Art Business News.

Although there is no clear roadmap on how to move forward, the team at Huntington T. Block has seen a few trends among galleries, art dealers, collectors, artists, art fairs, and more that are smart to have on your radar.

The Evolving Gallery Scene

The prolonged closure of galleries across the country has forced art galleries and dealers to develop strategies for different ways to stay relevant, promote artists and run their business. For example: 

• Online viewing rooms – Many art dealers have embraced digital technologies to stay connected with key cliental and artists during the pandemic. Although a majority of galleries already had established virtual platforms in place, online viewing rooms are being relied on even more now as an effective way to showcase artwork and engage collectors—whether it’s a major art fair like Art Basel Hong Kong or a small to mid-size gallery. In fact, viewing sites have almost become the norm as a replacement for art fairs that could not proceed. Obviously, these digital platforms do not allow potential buyers to experience art physically, but many collectors feel comfortable buying their works through reputable galleries from familiar artists.

• Financial support – Many small businesses in the art industry may potentially qualify for financial assistance through the federal government. The rapid and evolving changes around what help is available can be intimidating and overwhelming. Art dealers should feel empowered to seek out guidance from financial professionals to navigate any confusion or uncertainty about how to access, benefit, or qualify for government sponsored loans and grants or assistance.

• Employee relations – Art museums and galleries around the world have been faced with tough decisions—layoffs and furloughs—in response to the financial fallout. For example, the Museum of Fine Arts, Boston, recently furloughed about 300 staff members, more than 40 percent of its workforce. If possible, galleries should consider hiring freezes and salary cuts to help retain workers. The altruistic goal here being to help ensure that staff can weather this crisis as-best-as possible so, when the time comes, they may return to work on their feet.

Reactionary Selling

As the state of the economy worsens, art collectors may feel that it’s wise to sell their pieces. Financial professionals typically caution against reactionary selling during a financial crisis. My team and I, just like all fine art lovers, have a strong passion for art and fear the dangers of any type of commoditization. Fine art insurance aims to protect rare and historic objects to help guarantee their survival, in good condition, from one generation to the next—and over many centuries in some cases. 

However, the general consensus among art dealers and art advisors, from my perspective, is that there is no mass desire to sell artwork at this time. Most collectors take a more conservative approach to the sale of artwork, which requires time and skill in order to optimize value for both the buyer and seller.  Additionally, the high-end collector segment of the marketplace is somewhat insulated from immediate effect of the economic downturn.

Auction Market

Several of the recently concluded auctions, particularly last fall, resulted in lower than expected sale totals. The sales were lower not due to a decrease in unit price per se. Rather, the decrease was tied to a lack of supply of high-quality pieces available for sale. It’s too soon to speculate what the art market conditions will be in one month, one quarter, or even one year from now, and beyond. However, it can be assumed that any current reactionary selling will not have a substantial impact on overall pricing in the future.

The current challenge with buying art is not financial, but rather logistical. As lockdowns continue, physical inspections of artwork and movement of pieces cannot occur—a critical aspect of the sale process. For the time being, many collectors are developing “wish lists” in the hope of investing in the artwork of established artists—this could be the result of the recognition of artwork as an asset class and confidence in the value of good artwork.

Managing estimates at auction will be the key to bringing in potential buyers. There are a lot of people who still have a lot of money. If there is good work available, I can see where the auction houses may work to appeal to the collectors’ desire for good value and be able to build interest and sales.

Looking Ahead

Overall, we must remember during these delicate times that this is not the first downturn in the economy that the art world will have lived through. Galleries, art dealers, collectors, artists, art fairs, and the industry as a whole need to support one another as we navigate these challenges.

The post Art Market Trends in Response to COVID-19 appeared first on Art Business News.

Eco-grief and Artivism: Both are new terms to me, but they’re beginning to define my life in Australia. As a wildlife artist and animal lover, I’ve been so deeply affected by the devastating bushfires that it’s been hard for me to focus on anything else.

Every day, I pour my heart into my art. In my Extinction Series, I’ve been painting the landscapes and wildlife incinerated by the flames: koalas, kangaroos, cockatoos, platypus, wombats, and wallabies; iconic Australian species, some endangered and even facing extinction.

‘The Long Sleep,’ ‘Goodnight, Koala’ and the other artworks shown in this article are part of my Extinction Series. The Northern Koala, shown sleeping here in these two works as fire approaches, was already endangered before this year’s catastrophic bushfires and its survival as a species is in doubt.

My response to the tragic loss of over a billion animals in this season’s fires has been one of overwhelming heartbreak. I’m not ashamed to admit I’ve cried endless tears of grief. I’ve been trying to channel these feelings into my art practice, trying to turn traumatic personal experience into a call for climate action. What I’m doing can be described as raw artivism: creating art in the heat of the moment; emotional art to soothe my broken heart; political art to push for change.

It gives me a temporary escape from grim reality. The technique I use is called ‘encaustic’ or ‘hot wax painting’ — an ancient Egyptian art form that involves burning layer upon layer of melted beeswax and raw pigments into wooden panels. Because (ironically) I’m using fire in the process, it demands my full attention. Even a tiny error, such as holding the flame above the substrate for a second too long can wreck an entire week’s work, which, as you can imagine, helps me focus.

‘Fire in Our Skies’ Encaustic Original (Triptych), January 2020

But the meditative effect of my paintbrush and torch is always short-lived. With each new report of suffering and loss, my head pounds, my heart races and my throat constricts. It’s partly grief, I realize, and partly fear. It might also be a physical reaction to the toxic smoke that blanketed us for weeks, day and night, indoors and out.

It’s also rage.

It’s all I can do not to scream at the limp response to the bushfires from our political leaders in Canberra. “Don’t overreact,” they say. “Bushfires are part of Aussie life,” they say. “Stop being so emotional!” Then they turn around and give the green light for another coal mine, while warning us – including those who’ve lost everything in the fires – not to listen to “reckless” climate activists.

How can anyone witness the Morrison government’s blinkered, blundering response to the climate crisis and not feel anger and rage?

Political frustration isn’t new to me, I must admit. I’ve spent my career working to curb the spread of nuclear weapons, and I’ve seen policies being implemented that are dangerous and delusional. I pinch myself every time I hear politicians and officials (including here in Australia) espousing the security benefits of these horrific weapons. We now know that only luck saved us from nuclear catastrophe during the Cold War, which makes today’s nuclear brinkmanship even more terrifying – proof that humanity sometimes dresses up heartless, selfish, and self-destructive decisions in the language of rational action.

It’s hard to ignore the parallels in our failure to address the existential threats of nuclear weapons and climate change. As a scholar and writer who studies and critiques nuclear policy decisions — decisions that are sometimes based on narrow self-interest, lack of knowledge, and a failure of empathy, vision and courage — I know how important it is to speak out. And as I’ve done this, I’ve begun to regard rage as a positive emotion, despite my training as a dispassionate academic. Why? Because without personal rage, individuals won’t be spurred into action. Until masses of enraged individuals come together to peacefully express their joint rage, governments will continue to downplay the science on climate change and feed the world’s irresponsible addiction to fossil fuels.  In other words, without rage, political leaders won’t be held accountable for what amounts to criminal negligence.

‘The Scorching Skies Above Us’, Encaustic Original (Triptych), December 2019

My own rage is mounting daily. I can barely contain it. When it gets intense, my therapy is to pick up my paintbrush and mix another palette of fire-toned oils. I want as many people as possible to see the art that myself and other Australian artists are creating, partly because our profits are being donated to help wildlife injured in the fires, and because I want people everywhere to connect with our art on an emotional level, focus on the urgent need for change, and act on it. I want people to cry over our disappearing wildlife. I want people to rage over our fire-ravaged land. I want people to join the movement and stop sleepwalking into climate catastrophe; to realize what’s happening here will affect everyone’s future, not just Australia’s.

‘The Rescue’ and ‘The Scorching Skies Above US’ (detail)

Dr. Tanya Ogilvie-White is a senior fellow at Australian National University, adjunct senior fellow at Griffith University, board member of the New Zealand Centre for Global Studies, and founder of Scorching Skies Art.  To contact her about this article, please email tanya@scorchingskiesart.com or call her at +61 466 465835. You can make direct contributions to wildlife rescue and rehabilitation via WIRES, WWF, Birdlife, RSPCA, National Parks Association, Humane Society International, The Wilderness Society, Nature Conservation Council, Animal Welfare League and IFAW.

Meet Dr. Ogilvie-White at Art Santa Fe 2020 and see her amazing art. Read more about the artist at https://www.scorchingskiesart.com/

The post Painting Australia’s Bushfires: Eco-Grief & Artivism appeared first on Art Business News.

Globalization

Art and insurance are both global businesses. However, as it is internationalized, art becomes vulnerable to more interruptions and uncertainty.

According to the South China Morning Post, the results from a Christie’s auction house’s annual show in 2017 revealed that clients in Asia spent more on non-Asian art and artifacts than Asian pieces. Despite a growing appetite for Western art in China, the trade war and political unrest has taken a toll on consumption. For example, a New York art gallery expanded to Beijing and Hong Kong, but closed due to uncertainty. In the United Kingdom, the world’s second largest art market, Brexit is having a similar impact on the art market.

The unknown will continue to impact the global art market in the new year, affecting both appetite and prices. Failing to find solutions to these overarching issues will lead to negative impacts on art consumption. After all, the art market, like any other financial market, does not thrive on uncertainty.

On the positive side of globalization, art is flourishing in the Persian Gulf, Saudi Arabia, and Russia – markets that helped stabilize prices during the last global financial crisis. The value of Arab states in the art market is reinforced by recent expansion like The Louvre and Guggenheim’s new locations in Abu Dhabi. Russia’s hot market, however, may see some softening in 2020 because of sanctions and fluctuations in the petroleum market.

Climate Change

Collectors, galleries and institutions will continue to grapple with climate change exposure. According to the World Meteorological Organization, over 62 million people around the world were impacted by extreme weather in 2018. The uptick in extreme weather events – from hurricanes and wildfires to subzero cold and drought – all factor into how art needs to be handled, transported, displayed and stored.

There are different exposures to art based on zip codes. In the event of a catastrophic loss, insurers know what the exposure is and how it has been priced. Since 2005, insurance professionals have focused on aggregate issues, or accumulation of exposure, in the wake of Hurricane Katrina and Rita to ensure there is enough reserve to fulfill policyholder’s claims.

The art world will also continue to struggle with rising water levels. The World Meteorological Organization’s report also claimed that over 35 million people were affected by flooding in 2018. Coastal cities that serve as hubs for the industry, like Miami, Venice, Amsterdam, and New York, are a growing area of concern. Conversations about how to best safeguard the art will continue in the upcoming year – with everything from moving facilities to building new systems to protect priceless works. 

The damage that was caused and the significant losses were, to some degree, a surprise to the insurance industry, which had never seen seasons with that degree of intensity. Areas faced with wildfires, as well as surrounding areas, become more susceptible to flooding while recovering. This increased risk is a result of the dramatic change in terrain and the ground’s diminished ability to absorb water. The Federal Emergency Management Agency says that areas affected by wildfires are at increased risk for up to five years to face flash flooding and mudflows, even if they were not typically flood-prone areas in the past. 

Wildfires continue to intensify in both scope and frequency. In 2016 and 2017, California was hit by major brushfire losses. According to the National Interagency Fire Center, there were 65,575 wildfires in 2016 and 71,499 wildfires in 2017. In 2016 5.4 million acres were burned, and in 2017 it increased to 10 million acres, which was higher than the 10-year average.

This is a major concern for the art industry, since fire makes the restoration process of damaged art very difficult, and at times impossible. Fire can completely consume artwork, and smoke and heat damage can lead to significant challenges. All art collectors, especially people in fire-prone areas, need to invest in art insurance or risk losing their pieces for good.

Escalation of Art Values

In 2020 art values will continue their sharp upward trajectory as wealth increases around the world. According to The Art Market 2019, a report written by founder of Arts Economics, Dr. Clare McAndrew, the art market was valued at $67.4 billion in 2018, a six percent increase from the year before.

The spread of wealth around the world has expanded art worldwide, especially in China – now home to the world’s most billionaires, India, and Saudi Arabia; access to disposable incomes to acquire artwork has increased consumption. However, this becomes a matter of supply and demand; there are only so many historic artworks available for purchase.

Overall, there are many changes on the horizon within the art market in the new decade. Similar to other areas of business, the art world will need to prepare for and adapt to challenges presented by societal, economic, and environmental concerns. Looking ahead, it will be interesting to see how these obstacles are overcome, and how it will impact the way art is bought, sold, and protected.

Joe Dunn has served as president & CEO of Huntington T. Block (HTB) for nearly 15 years.  HTB is the leading specialty fine art insurance brokerage firm in the United States and manages exclusive underwriting facilities for Lloyd’s of London. Joe has grown the practice by successfully leading the team by providing risk management and insurance solutions to the fine art industry. Sources: South China Morning Post, World Meteorological Organization, Federal Emergency Management Agency, National Interagency Fire Center, The Art Market 2019, and Arts Economics.

The post Three Key Trends Guiding the Art Market in the New Year appeared first on Art Business News.

Six publishing and licensing companies united for the cause: U.S.-based Wild Apple and World Art Group; International Graphics and Kunstanstalten May AG of Germany; United Kingdom’s Rosenstiels; and Top Art in Italy.

“For any one of our small businesses, fighting copyright infringers on our own would be an overwhelming prospect,” said Lonnie Lemco of World Art Group. “Working together with other art publishers helps sustain our sense of mission, and it makes a much bigger impact on the companies stealing our artwork. It’s still difficult and expensive, but we are seeing some positive results.”

The coalition reported that many infringing companies were cooperative when asked to remove counterfeit artwork. Jinhan Fair organizers also assisted the coalition after receiving formal documentation of copyright ownership.

“The amount of paperwork we had to do to ‘prove’ legal copyright for some of our images was extremely time-consuming,” said Wild Apple owner John Chester. “But it was worth it to show an obstinate counterfeiter that we are serious about enforcing our copyrights.”

The Art Copyright Coalition will continue their work at the October fairs in China.

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