Understanding International Art Markets

Recent reports indicate that the international arts market was valued at 40 billion in 2008, having grown 11% since 2007. Although the US and UK continue to dominate, art sales out of India and Russia have shown significant increases. In the years since the first edition of Understanding International Arts Markets, the economic cycle in the arts industry may be about to turn. Nevertheless, an appreciation of the value of arts to the international economy remains vitally important. This new edition is fully updated with new economic data and market coverage to enhance the reader s understanding of international arts markets. Topics covered include:

Emerging markets in Asia and the Middle East
Emerging markets in South America
Taxation policies and arts markets
Chinese arts
Crime and the art world



This revitalized second edition will continue to be essential reading for students on courses such as arts management, arts marketing, arts business, cultural economics, the sociology of arts, and cultural policy."