Reputation Risk in the Global Art Market Kimberley Howard William Wei Eric Zengxiang Wang
BCG Matrix Analysis
Reputation risk in the global art market presents a severe threat. According to a report by Art Basel, sales of modern and contemporary art increased from 3.2 billion in 2019 to 6.9 billion USD in 2020. These figures, which show an exponential increase, are a significant challenge for the traditional art market. While there is a growing interest in contemporary art, art-buying behaviour remains unsophisticated. The global art market has experienced a steady growth in the number of buyers and collectors. try this However, this market
PESTEL Analysis
“Reputation risk in the global art market: What makes it tick?” (2012) for Artforum International. A few years ago, when I first started writing about the art world, I knew that my article would not be the first published on this subject in the USA. But it was the first article in Asia (China), and it helped usher in some much-needed attention to this important but notoriously opaque and secretive art market sector. In this first article on this issue, we have the following main points: 1. Definition:
Marketing Plan
Reputation risk in the global art market is a significant issue facing contemporary art in 2021. Global pandemics have led to increased social distancing and isolation, making it challenging for collectors and institutions to engage with artwork. Artists are finding themselves forced to adapt to a global pandemic culture, as audiences have migrated online, resulting in reduced live art events. Art market professionals are increasingly focusing on virtual auction house technology for online exhibitions and collective shows. Virtual auction houses, such as Art19,
Problem Statement of the Case Study
“Reputation risk” is the term used to denote the risk of the art market (in general, and to the specific case of Kimberley Howard) to suffer a loss or damage in terms of its reputation due to a single event. Kimberley Howard, who is the CEO of the art-management company A+D Consultancy, has been exposed to a global market crisis, including the loss of several significant auction results in the last two years (Howard 2019). Howard attributes this crisis mainly to the “demise of traditional galleries”,
SWOT Analysis
In a recently published report from Artwise Consulting, the global art market witnessed a 12% decrease in auction sales in 2015, compared to 2014. Apart from this, the report also highlighted the significant rise in the number of “low-value” or “non-fine” contemporary art sales, at USD 8.5 billion, as opposed to USD 6 billion in 2014, indicating a clear sign of decline in high-end art sales. With the trend of
Alternatives
In my article, Reputation Risk in the Global Art Market, I argue that the global art market needs to adopt new models of authentication and provenance, in order to reduce the risk of reputation damage from counterfeit works, stolen art, and other forms of replication. These models should focus on the creation of transparent, community-supported information systems, whereby artworks are authenticated, provenanced and tracked throughout their lifecycles. I will argue that this approach can help restore confidence in the legitimate sale of art, and prevent a major crisis in the sector
VRIO Analysis
Section: VRIO Analysis Globalization has brought about significant changes in the world. One of the consequences is the growing art market. It is evident in the fact that the global art market is growing at a fast rate and the number of buyers from developed countries is constantly increasing. This section examines the reasons for this growth in the global art market. First, the concept of globalization has become the foundation of the art market worldwide. This can be seen in the increasing globalization of artists’ exhibitions and the growing interest of collectors from different parts of