Write a paper about the future development of the art market, focusing on one role that we discussed in class (roughly 3 pages). An example of a typical paper might be “The future role of an art gallerist” or “The future role of an auction house” or “The future role of an artist”, etc. Students’ papers will benefit from the guest lecture sessions, as well as making use of the theoretical knowledge and experience gained in class. Your paper should address relation to its key stakeholder, its location (offline vs. online), its revenue model, its competition and its overall position in a changing and highly international art world.
Student can choose any role discussed in class. Grades are based on:
Formal aspects
Contextual aspects
Structure of the work
Writing Requirements:
Length must meet at minimum three (3) pages.
Possible sources:
Mc Andrew, C. (2020). The Art Market 2020 (pp. 17-51). Retrieved from https://www.artbasel.com/about/initiatives/the-art-market
Velthuis, O. (2005). Talking Prices: symbolic meanings of prices on the market for contemporary art (pp. 53-158). Princeton: University Press.
(not required) Pownall, R. (2017). TEFAF Art Market Report 2017. Maastricht: TEFAF
Adam, G. (2011). Hidden Persuaders. London: The Financial Times. Retrieved from https://www.ft.com/content/21874020-a71d-11e0-b6d4-00144feabdc0 (Links to an external site.)
Fineman, M. (2006). Art Advisers. New York: The New York Times. Retrieved from http://www.nytimes.com/2006/10/15/arts/design/15fine.html
Frey, B. S., & Pommerehne, W. (1988). Is Art such a good Investment. The Public Interest, 91, 79 – 86.
Resch, M (2018). How the Art Industry Really Works (2018). Video File. Retrieved fromhere(Links to an external site.)
Spaenjers, C., Goetzmann, W. N. & Mamonova, E. (2015). The economics of aesthetics and record prices for art since 1701. Explorations in Economic History 57, 79-94. Retrieved fromhttps://doi.org/10.1016/j.eeh.2015.03.003
De Marchi, N. & Van Miegroet, H. J. (2006). The history of art markets. In V. A. Ginsburgh & D. Throsby (Eds.), Handbook of the Economics of Art and Culture, Volume 1 (pp. 69-122). Amsterdam: Elsevier
Minniti, A. (2015). The evolution of the art market: from 15th century Florence to the Sotheby’s-eBay agreement. Rom:Free International University for Social Studies. Retrieved from http://tesi.eprints.luiss.it/15688/1/172301.pdf
Mason, D., & McCarthy, C. (2006). The feeling of exclusion: Young people’s perceptions of art galleries. Museum Management and Curatorship, 21(1), 20-31. Retrieved from http://www.sciencedirect.com/science/article/pii/S026047790500107X(Links to an external site.)
Velthuis, O. (2014). Art Rank and the Flippers: Apocalypse Now?. Berlin: Texte zur Kunst. Retrieved from https://www.textezurkunst.de/96/olav-velthuis-artrank-und-die-flipper/
(not required) Lee, J.W. & Lee, S.H. (2017). Marketing from the Art World: A Critical Review of American Research in Arts Marketing. The Journal of Arts Management, Law and Society, 47 (1), 17-33. Retrieved from http://dx.doi.org/10.1080/10632921.2016.1274698
Caldwell, N. (2000). The Emergence of Museum Brands. International Journal of Arts Management, 2(3), 28 – 34.
Thompson, D. (2010). The $12 Million Stuffed Shark: The Curious Economics of Contemporary (pp. 9-53). Basingstoke: Palgrave Macmillan.
Haden-Guest, A. (2013). Away From the Block: Auction Houses Are Conducting More of Their Sales Privately. New York Observer. Retrieved from http://observer.com/2013/02/away-from-the-block-auction-houses-are-conducting-more-of-their-sales-privately/
Dilenschneider, Colleen. 2017. “The Evolved Role of the Marketing Department in our Digital Age.” Capacity Interactive Blog. Posted July 18, 2017. Accessed September 7, 2018. http://ideas.capacityinteractive.com/the-evolved-role-of-the-marketing-department.
Rationale: This blog describes the increasingly important role of the marketing department in driving organizational success.
Dilenschneider, Colleen. 2017. “The Evolved Role of the Marketing Department in our Digital Age.” Capacity Interactive Blog. Posted July 18, 2017. Accessed September 7, 2018. http://ideas.capacityinteractive.com/the-evolved-role-of-the-marketing-department.
Rationale: This blog describes the increasingly important role of the marketing department in driving organizational success.
La Placa Cohen, 2018. Culture Track 2017. Accessed September 13, In the list, go to Culture Track 17. Download the report by clicking on the icon in the upper left corner for the different sections. http://culturetrack.com/research/reports/ (choose the top-line report).
Rationale: Recent data on the buying preferences of arts and cultural consumers offers us an important context for the rest of the quarter.
Bergauer, Audrey. 2017. “Audience Development: The Long Haul Model A New Paradigm that Solves the Problems of Audience Attrition, Churn, and Aging.” August 14, 2017. Accessed September 13, 2018. https://medium.com/@AubreyBergauer/audience-development-the-long-haul-model-3c381a8c0072.
Rationale: An excellent example of how an orchestra in California re-figured its operations around loyalty and saw huge increases in revenue.
Curious Theatre Company. 2018. The Loyalty Target. White Paper. Released June 4, 2018. https://www.curioustheatre.org/loyalty-target/.
Rationale: Denver-based Curious Theatre Company recently introduced “The Loyalty Target,” a loyalty model which helped them reimagine traditional arts administration structures, leading to a more diverse audience, increasing patron-driven revenue, and greater patron satisfaction.
How Your Museum Or Nonprofit Can Benefit From The Loyalty Loop (3 pages)
Cuseum. August 21, 2017. How Your Museum Or Nonprofit Can Benefit From The Loyalty Loop. Accessed October 29, 2018. https://cuseum.com/blog/how-your-museum-or-nonprofit-can-benefit-from-the.
Rationale: A thought-provoking article about McKinsey’s Loyalty Loop and how it applies to the customer journey of museum patrons.
Jones, Robert. 2013. “Branding for Museums. Journal of Arts Management.” Accessed October 29, 2018. http://www.culturehive.co.uk/resources/branding-for-museums/
Rationale: Why do museums and other arts organizations need branding? How can branding guide the activities of an arts organization? These questions and more are addressed in this short article.
4 Steps to Knowing Your Brand: The Story of One Small Arts Organization (10 pages)
Stone Soup Creative. 2016. “4 steps to knowing your brand: the story of one small arts organization.” June 27, 2016. Accessed October 29, 2018. https://www.stonesoupcreative.com/4-steps-knowing-brand-story-one-small-arts-organization/.
Rationale: A straightforward, step-by-step approach to determining brand.
Capacity Interactive, 2018. “2017 Arts Industry Digital Marketing Benchmark Study.” Accessed November 16, 2018. https://ideas.capacityinteractive.com/education/arts-industry-digital-marketing-benchmark-study p 24-103,
Rationale: This study highlights current practices and areas for growth for digital marketing in the arts industry.
Wolf Trap: Summer Nostalgia + Smart Digital Targeting = Memberships (With A 1,000%+ ROI) (5 pages)
Capacity Interactive. “Wolf Trap: Summer Nostalgia + Smart Digital Targeting = Memberships (With A 1,000%+ ROI).” Accessed September 13, 2018. https://capacityinteractive.com/clients/wolf-trap/.
Rationale: An example of an extremely successful digital marketing campaign for lapsed members and lapsed ticket buyers.
Bernstein, Joanne. 2014. Standing Room Only. Palgrave Macmillan. Chapters 12 and 13.
Rationale: These chapters describe the consumer psychology behind effective communication with arts audiences and introduces the marketing communications mix: advertising, personal selling, sales promotion, and public relations.
Bernstein, Joanne. 2014. Standing Room Only. Palgrave Macmillan. Chapter 9 pp 187-201. Chapter 10, pp. 201-229.
Rationale: Introduces the concepts of place and price in the context of the arts.
Tickets are worth different amounts to different people (3 pages)
McCarthy, Jim. 2015. “Tickets are worth different amounts to different people, Selling Out.” Accessed October 19, 2018. http://sellingout.com/tickets-are-worth-different-amounts-to-different-people/.
Rationale: This article helps us understand pricing from the patron’s point of view.
The Right Price: How to Set Ticket Prices at your Arts and Cultural Nonprofit (6 pages)
Beussman, Laura. 2015. “The Right Price: How to Set Ticket Prices at your Arts and Cultural Nonprofit.” Blackbaud. Accessed October 19, 2018. https://hello.blackbaud.com/rs/blackbaud1/images/Blackbaud_TheRightPriceWhitepaper.pdf.
Rationale: A snack-able overview of pricing at arts and cultural nonprofits.
Bernstein, Joanne. 2014. Standing Room Only. Palgrave Macmillan. Chapter 16.
Rationale: This reading provides basic definitions of customer experience and customer service, discussing its significance to arts marketing.
Great Customer Service; Building Real Relationships (3 pages)
Bernstein, Joanne. January 2, 2015. “Great Customer Service; Building Real Relationships” Arts Marketing Insights Blog. Accessed October 17, 2018. https://artsmarketinginsights.wordpress.com/2015/01/02/great-customer-service-building-real-relationships/.
Rationale: This blog post connects the concept of customer service with building relationships with patrons.
What is customer service for? (4 pages)
Godin, Seth. March 25, 2015. “What is customer service for?” Seth’s Blog. Accessed October 17, 2018. https://seths.blog/2015/03/what-is-customer-service-for/.
Rationale: An extremely practical view of customer service.
Last Completed Projects
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