Topic > The UK art market and the economic crisis - 1185

How did the economic crisis affect the UK art market from 2006 to 2011? Is the art market a different area from the economic crisis? My research aims to collect and analyze data from two major auction companies in the UK, in order to show the performance of the art market during the changing economic environment in the UK. Furthermore, the article will try to demonstrate that the art market remains independent from other economic factors and that the consumption of works of art and antiques represents a stable mode of investment. By collecting secondary data mainly from Sotheby's and Christi's of the UK auction records, furthermore, by carrying out interviews with the objects of the auction company, first and second hand information will be acquired and applied in the research thesis. Finally, compared to traditional trade tunnels, the article will provide clues to the modes of creative exchange in the UK art market. Background: As Moulin (1987) indicated that the art market is the place that allows the exchange of cultural goods for a commodity. The art market includes a wide range of collecting, buying and selling possibilities (Robertson, 2005). According to specialized auction departments such as Christie's and Sotheby's, the objects handled on the market are classified into Ancient and Ethnographic Arts, Asian Arts, Books and Manuscripts, Ceramics and Glass, Collectibles and Relics, Furniture and Decorative Arts, Great Heritage, jewellery, paintings, drawings and sculptures, etc. (Resch, 2011). However, the state of the art market is always governed by three factors which are the availability of art for sale, the world economic environment and the dictates of fashion (Taylor & Brooke, 1969). A recent report by the European Fine Art Foundation on the global art market (Du, 2010) ...... middle of paper ...... edge.Spaenjers, C., 2010. returns and fundamentals in international art markets 'art. [pdf] Available here:< http://www.hec.unil.ch/documents/seminars/ibf/430.pdf> [Accessed 14 December 2011]Sociology at Surrey, 1998. Secondary analysis of qualitative data. [online] Available at: < http://sru.soc.surrey.ac.uk/SRU22.html > [Accessed 15 December 2011].Moulin,R.,1987.The French Art Market. New Brunswick, NJ: Rutgers University Press.Taylor, J.R. and Brooke,B.,1969. The art dealers. New York: Sons of Charles Scribner. Turner, P.D.1997. Secondary analysis of qualitative data. Proceedings of the American Educational Research Association Annual Meeting. Chicago: IL. Thorne, S. (1994). Secondary analysis in qualitative research: Issues and implications. In J.M.Morse (Ed.), Critical issues in qualitative research methods. Thousand Oaks, CA: Sage.