TOPIC #8: "The impact of COVID-19 on the Art World and the Art Market"
The recording and related materials are accessible to the membership in the Members Area.
The ENCATC Members Talk N°8 took place online on 11 September from 14:30 - 15:30 (CEST).
Like many other sectors and spheres of our life, the Art Market has been heavily disrupted by the worldwide impact of the COVID-19 virus, and collectors can expect market shifts to persist for some time.
In these turbulent and extraordinary times, there are some tips and advice for collectors and art lovers to keep in mind to safeguard their art property, as well as information on tax relief legislation in different countries, which should be designed to encourage collectors to make donations.
In conversation with ENCATC members and members from our partners Association of Arts Administration Educators (AAAE) and the Taiwan Association of Cultural Policy Studies (TACPS), for this edition ENCATC invited Nanne Dekking (Founder and CEO of Artory, New York/Berlin and former Chairman of the Board of TEFAF), and two special guests: Agniya Mirgorodskay (Founding Director of the Riga Biennial Foundation) and Maria van Vlodrop (MvVO Art ad Art Show Founder). The Talk was moderated by Yelena Kharitonova, a member of ENCATC and Founder, Caravan Cultura CreAcademy.
There are disruptions in sales channels, since many auctions and Art Fairs are canceled or postponed. Moreover, physical distancing has resulted in challenges to collectors‘ abilities to physically inspect/transport work.
Many on-line platforms have been launched and the scale of on-line engagement has increased drastically in the last months.
Regardless, collectors acquiring works viewed online have the challenge of ensuring their work will be delivered in good condition and with respect to the agreed time frame and to the physical address.
Many galleries have been closing and are going bankrupt. How are art assets protected from a gallery's creditors? How about art loans to museums?
Also, has cyber-crime ramped-up during the COVID-19 pandemic? What are the challenges in different parts of the world nowadays? How can we draw parallels between September 11th 2000 having an impact on the art markets (in the USA) and challenges nowadays in the US and Europe, as well as in other parts of the world?