The Complicated Relationship of Art & Money

SATURDAY 2nd December 2023

1:45 pm Registration

2:00 pm to 4:00 pm

Art, in the main genres of painting and sculpture, have traditionally been revered as cultural icons and ensconced in prominent collections of major art institutions and museums. In the modern and contemporary era, art has expanded to encompass collages, photography, installations, and digital formats. Carefully catalogued, collected, and preserved, these objects have gained hallowed reverence by the viewing public. Despite the venerated status of the artworks, especially in the network of financial transactions that govern the arts industry as well as the special workings of supply and demand unique to the art industry, artworks as artifacts are undeniable commodities that serve as tangible currencies of exchange. Yet, how are artworks priced and who sets these prices? Why are some paintings worth several million dollars and some merely a few thousand? Do the worth of an artwork equate with its value? These are some of the questions that will be used as points of departure.

This special segment on Art and Money, led by the Art Focus Convener and Art Historian Julie Chun, will take us behind the scenes of the art world. This session will provide an introduction of the primary and secondary art markets, with a focus on the primary market with visits to a cluster of four art galleries on the Bund. We will meet and hear directly from gallery owners and directors to better understand the circulation of contemporary artworks in the domestic and international markets. After the gallery visits, we will gather at the newly relocated RAS Art Library in the premise of the Urban Archeo Library on the Bund to have a drink and take part in critical reflections.

RAS Members and Friends, and Donors of RAS: RMB 70 (includes a drink)

Nonmembers: RMB 170 (includes a drink)

For those wishing to join us as members or Friends of RAS, please contact: artgroup@royalasiaticsociety.org.cn or bookings@royalasiaticsociety.org.cn