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The art market—a $54 billion global business in 2014—is disproportionately centered in the United States and Europe. The business sector’s market channels—private dealers, galleries, auction houses, the Internet, and social media—use complex approaches and techniques to buying, holding, and selling art. This course explores the size of each sector of the global art market, dissects the processes used in each, and examines how business is conducted. The focus is on the practicalities of market segments, and topics include art finance, auction guarantees, art partnerships, and sales and usage tax (both US and VAT). Come away with a firm foundation in the intricacies of art business and finance and an understanding of the markets’ conflicting opacity and transparency.
http://www.sps.nyu.edu/content/scps...801