Are You ArtRank-ed?
Thursday 03rd July 2014
Speculation in the art world has always been a bit of a gamble. Much like the great grand-daddy of speculation that is the stock market, huge sums of money are made and lost on a regular basis, as collectors vie with each other to discover the hottest young talent, and gamble on those artists who are currently in the midst of their careers. Some collectors have a knack for it, others are left in the financial dust. Recently, a new service has been shaking things up for collectors and artists alike, and there are those on both sides of the fence who see it as extremely problematic, and perhaps even downright unfair.
Needless to say, this is likely to generate a great deal of ill will, and artificially modify the nature of the art market if it gets too widespread a hold. That may not inherently be a bad thing, but one must wonder as an artist if there is such a thing as treating the collecting world too coldly. Of course, for any artists who are ranked in the buy categories, it could be a huge boon to their careers, driving collectors to purchase, but there is the possibility that, as in the financial markets, artificially-generated booms and busts may be more than the art world can handle. There has already been a great deal of speculation that the art world is in something of a price bubble, but ArtRank may change all that in one fell swoop.
Take swing by ArtRank and check it out for yourself - have you been ArtRank-ed?
