Scottish Sunday: Arts: Culture
Two Paintings, Two Painters: One Artist Sells for £5000, the Other for 10 Times as Much … Why?
How much is a painting really worth?
We've all scoffed at the eight-figure sums that a Picasso fetches at auction but put us in front of a painting priced at £10,000 and we are impressed by the figure. It must be worth that amount, we think, because this is a gallery and that is art. And it must be better than that other painting over there which is priced at only £1000. Mind you, it is slightly smaller: should that make a difference?
The Complexities of the Art Market
In truth, the art market is a Gordian knot of complexities in which fashion and luck have as big a part to play as talent. When the Glasgow Art Fair opens later this month, these apparent paradoxes will come sharply into focus. To try to unravel some of them, and make sense of the forces at play in this most curious of marketplaces, let's rewind the years and examine the fortunes of a generation of Scottish artists who set out on their respective careers a quarter of a century ago.
The New Glasgow Boys
It is June 1982 and the doors have just opened on a Glasgow School of Art degree show which features, simultaneously, the work of painters Ken Currie, Adrian Wiszniewski and Steven Campbell. Alongside two more graduates of the School, Peter Howson and Stephen Conroy, this group will come to be known as the New Glasgow Boys. The moniker is a nod to the original Glasgow Boys, in whose ranks had stood the School of Art's designer, Charles Rennie Mackintosh. But collectively they are more than just an echo of past glories: their bullish, vigorous figurative work and the hullaballoo that surrounds both them and it will push Glasgow School of Art into the spotlight as never before.
The Value of Scottish Artists' Work
Today, paintings by Currie, Conroy, Campbell, Howson, and Wiszniewski sell for thousands of pounds. An exhibition of Currie's latest work has just closed at the Flowers Central gallery in London's art thoroughfare, Cork Street. It was a series of small portraits in oil with price tags ranging from £4000 to £15,000. Currie's larger works sell for up to £40,000.
Factors Affecting the Price of Art
But what about the art school graduates who rubbed shoulders with these stellar names? What affects the price they can command in galleries? What role does self-promotion, prizes, luck, and locale play in their painting careers?
Hotels and the Art Market
Art-Focused Hotels
In recent years, the art market has not only attracted the attention of collectors and investors but has also become a significant factor in the hospitality industry. Art-focused hotels have been popping up around the world, offering guests the opportunity to experience both luxury accommodation and curated art collections.
Curating Art Collections in Hotels
Hotels with a strong focus on art often collaborate with galleries and local artists to curate their collections. They aim to create a unique and immersive experience for guests by integrating art into the hotel's design, from the lobby to the guest rooms. This can include displaying paintings, sculptures, and installations by renowned artists, as well as supporting emerging artists and local talent.
The Value of Art in Hotels
The presence of art in hotels not only enhances the aesthetic appeal but also adds value to the overall guest experience. It creates a sense of cultural richness and provides an opportunity for guests to engage with different artistic expressions. For art enthusiasts, staying at these hotels becomes an opportunity to explore and appreciate art within a hospitality setting.
Supporting Artists in the Hotel Industry
The collaboration between hotels and artists also provides a platform for artists to showcase their work to a wider audience. It offers exposure and potentially increases the value of their art as more people become familiar with their creations. Additionally, hotels may offer opportunities for artists to participate in residency programs or host exhibitions, further supporting their careers.
The Intersection of Luxury and Creativity
Art-focused hotels offer a unique combination of luxury and creativity, appealing to travelers seeking a distinctive and culturally enriching experience. By incorporating art into their brand identity, these hotels attract a niche market segment and establish themselves as destinations for art enthusiasts, collectors, and those who appreciate the intersection of luxury and artistic expression.
Conclusion
The art market continues to captivate both artists and collectors alike, with the value of artwork influenced by various factors such as reputation, buzz, and market demand. In parallel, the hospitality industry recognizes the value of art in enhancing the guest experience, leading to the rise of art-focused hotels that showcase curated collections. Both the art market and the hotel industry provide platforms for artists to thrive and contribute to the cultural landscape.
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