What Is Fine Art and What Is the Fine Art Market?

Most think of art in terms of visual arts, i.e. painting, sculpture, jewelry, and the like. Many think of artists in terms of Michelangelo, Rubens, or companies like Tiffany or Faberge, and others. But most modern art isn’t created by folks with innate ability. Artists learn it and develop the sales skills needed to make a living. More likely they are the Warhols of our age.

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Most of us don’t appreciate some of the fine arts because we don’t like how it looks. After all a pile of sticks is just a pile of sticks no matter how cleverly they are stacked up. Yet the art market in the United States is over a billion dollars per year. Millionaires stalk each other at art auction in places like Christie’s and pay enormous prices for some items that the makers would have to pay me to display in my home.

You might be surprised to know that China is now the world leader in fine art auction sales. Moreover, four Chinese artists are the most sought after in the world. The art auction market in China alone was over $3 billion in 2010. The United States trails China with an annual art market of around $1.5 billion. It is estimated that the art market worldwide is over $13 billion per year.

So there is money to be made in the fine arts. Art is more than just painting or digital photography. By and large the fine arts market is a “idea”; it is an enormously expensive ego trip at its highest end. Does this egocentric nature ruin art for the common citizen?

It should not. We should be free to indulge ourselves in doing a rustic scene with our trusty water colors or design a ring. Whatever helps join the logical side of our brains to our creative side is personally important.

The City has asked our arts students to display some of their creative works at City Hall. And I encourage you to ask to see your children’s creations at school. I know I enjoy looking at some of the displays at our local elementary schools.

Who knows, maybe you or your children can join in the growing fine arts market. Any creative billionaire candidates out there?

Do you participate in any kind of art -- photography, painting, scultping, etc.? Let us know in the comments. 

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