Is the Art Market a Scam?

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IS THE ART MARKET A SCAM?

On this particular question, I would like to begin my reaction by looking at the current situation of the art market here in the Philippines. As I’ve mentioned earlier in this paper, more often than not, artists are being somewhat exploited when it comes to the major art markets because of the influences behind the pricing and exhibitions, etc. For the longest time, we think of the art market as elitist in so many ways. It has been dubbed as exclusive and snobbish - and up until now, that is very true. Fine art is always expensive, thus, the market is also the elite, on the contrary, the artists who are making these art pieces usually belong to the general class; the masses. They are not born rich and as the report stated, only a few of these artists make it to the top. One should have a good connection with a person who has already saturated the market for him or her to be endorsed or to gain more traction and to be able to connect with the right clients or collectors. 


 So, is the art market really a scam? For me, personally, it is - provided that there is an abuse on the part of the persons in authority that’s been going on. I’ve always been very vocal about my critique of the way these people in the art industry are manipulating others for their own gain. I am very concerned about the artists who are doing their best to thrive but these people are somewhat hindering their success. Can an artist control his or her success in the art world? In my opinion, yes, they can, given that they’ll be given equal opportunities to showcase their art directly to the collectors without the preemptive and inevitable intervention of the dealers, gallery owners, price-setters, etc. I also think that there should also be an establishment of an economical institution to regulate the pricing and also to help the artist know the art’s worth in a fair manner. 


By analyzing the question and answering it, I’ve also reflected on the intrinsic value of art to the artist who made it. The non-monetary value is embedded in the very cloth of the canvas in which the paint is laid. As an artist/designer myself, that aura is also important - most especially when the art is ‘real’ - meaning, it is really intended for the artist's expression of his or herself, and not only for selling purposes. For me, that value is priceless indeed. An artwork should always be a reflection of the artist’s persona; it’s like an extension of the artist's physical, emotional, spiritual, and mental self.

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