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Arts and Entrepreneurship
book

Arts and Entrepreneurship

by J. Mark Munoz, Julienne W. Shields
December 2017
Beginner
156 pages
4h 4m
English
Business Expert Press
Content preview from Arts and Entrepreneurship

CHAPTER 6

Exploring the Emergence of Contemporary Art Galleries in Istanbul: The Effectuation Perspective

Aytug Sozuer

The annual sales volume in global art market from 2007 to 2016 was around $60 billion on average (McAndrew 2017). With respect to Turkey’s 0.9 percent share in world trade, the country’s art market can be roughly estimated to be around $500 million. In terms of contemporary art, which refers to works by artists born after 1945, the global auction revenues reached above $1 billion in recent years (Artprice 2014). Given that there are 1.6 times more sales in dealers than in auctions (Pownall 2017), the world contemporary art market can be estimated over $2.5 billion. In 2011, the auction revenue from contemporary art in Turkey ...

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Publisher Resources

ISBN: 9781631576348