“When bankers meet for dinner, they discuss art. “When artists get together for dinner, they talk about money.”
In this way, the contemporary art market has emerged as fertile ground for investors seeking both financial return and aesthetic appreciation.
According to Andrés Linares-Guerrero, an expert in the art market, in the last decade “we have witnessed a dynamic change in the perception of art, going from being a mere cultural expression to becoming a class of asset coveted by collectors. and financial enthusiasts alike.”
Currently, the art market has been outlining its exponential growth, the transformation of contemporary sculpture into a leading actor and its relevance as an investment vehicle, with a particular focus on artists such as Fernando Botero and the strategies that have turned the works of these creators into valuable and sustainable assets.
Botero
Andrés Linares-Guerrero mentions that Fernando Botero, internationally recognized for his voluminous sculptures and their forms, has been a significant driver of the valorization of contemporary sculpture. His ability to capture the human essence and figures has attracted collectors from all over the world.
“The market has responded enthusiastically to their unique and distinctive creations. The value of contemporary sculptures is evidenced by the constant growth of prices at auctions and art galleries. Botero, in particular, has experienced a significant increase in demand and, therefore, value for his sculptural works. This phenomenon is attributed to several factors, among them, the uniqueness of his style, his international recognition, and the constant search by collectors for works that transcend the conventional,” he mentions.
The growth rates of contemporary sculptures, especially those created by established artists, reflect the market’s confidence in the durability and long-term appeal of these pieces. Sculpture has gone from being a complementary art form to assuming a leading role in contemporary art collections.
Linares highlights that investment in contemporary sculptures has become more attractive, as demand continues to exceed supply. Collectors seek pieces that are not only visually striking, but also have strong artistic backing and a relevant cultural narrative. This approach has elevated contemporary sculpture to the status of a valuable and appreciable investment.
“Today, a clear example is the contemporary bronze sculptures of Machiamelo, an artist with a long career with institutional exhibitions, museums and representation by an international gallery. His work, planned to be part of public settings, becomes accessible to diverse audiences through exhibitions in museums, as is the case in the coming months at the Museum of Modern Art of Cartagena, MAMC, with an interesting academic agenda. . The distinctive factor in Maquiamelo’s sculptures lies in his innovation in forms and exploration in the patinas, he also manages to generate value through his exclusivity, the artist has a limited production, he only makes editions of 3 of his bronzes, which “It limits the number of collectors and institutions, transferring value to the work due to its scarcity,” says the expert.
Returning to Botero, after his sad departure, generated another growth that is typical once the artist-author passes away. A revealing example of this pattern is the case of Alberto Giacometti. After his death in 1966, the value of his sculptures experienced a notable increase. «In 2015, his sculpture “L’Homme au doigt” sold at auction for more than $141 million, a historical record that highlights how the artist’s death can catalyze a substantial increase in the value of his creations. This phenomenon is attributed to the combination of the finitude of the artist’s production, the consolidation of his legacy and the growing demand for works associated with a figure already immortalized in the history of art,” adds Linares, who developed research on the market. of art and how delicate this balance between art and market must be for the Master’s Degree in Art Markets at the Faculty of Philosophy of the University of Zurich.
2024-02-22 08:42:03
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