To go further, I have just read 3 books that are rich in information to understand the acceleration of the evolution of the contemporary art market over the last 10 years:

• "Do you know how to speak contemporary art? Frédéric ELKAIM, Collection Je est ailleurs, MAGELLAN & Cie, 2018
• "Geopolitics of Contemporary Art. A challenge to American hegemony?" Nathalie OBADIA, Editions Le Cavalier Bleu, 2019
• "Collectors of contemporary art. Unknown actors of the artistic life" Nathalie MOUREAU, Dominique SAGOT-DUVAUROUX, Marion VIDAL de culture. Department of studies, prospective and statistics.

The functioning of the international art market

With the lucid analyses delivered by professionals, several points emerge. To begin with, French artists find themselves excluded from an international system. The latter is dominated by investors and art galleries that tend to put their financial interests first. 

• One does not speak any more of the Beautiful, of History, of Work of Art. The chosen terms put forward are "work of reflection" led by such or such artist. Don't say "works" anymore. Translate by "pieces", "installations", "performances".
• Some artists propelled at the beginning of their career have not been able to control their coast afterwards. Others come completely off the "radar". They do not fit into the "mold" of the thought often "frozen" by the all powerful "curators" (translate curator, art advisors).

Warning: to understand contemporary art, drop all references to easel painting: a new cycle is born where the viewer participates in the elaboration of the work. It is thus necessary to be initiated and to invest time to understand this new artistic language before making its own opinion.

• The tree that hides the forest:
  • The artists known in relation to the auction records are not representative of the whole production but rather the reflection of a system between collectors, gallery owners, investors, institutions". Thus it should be known that the average price of a work of art is rather established around 5 000 €, far from the spectacular flights.
• The contemporary art collector wants to "be of his time" and to show that he can afford such and such an artist whose displayed and known value is exposed like a "Trophy", according to Frédéric ELKAIM. It is also the success of the collections of company (collaboration group LVMH with known artists whose results are more or less happy).

3 complementary approaches 

• Frédéric ELKAIM, founder ofArt Now! proposes to accompany us (finally those who seek to understand) towards the contemporary artistic universe. It works sincerely towards a democratic access and open to all.
  • In his book, there are no silly questions, no taboos, and he precisely dissects all the prejudices that we feel. This obstacle to understanding for those who do not frequent the milieu, closes the actors in a microcosm difficult to penetrate and that they maintain by the absence of mediation most of the time. But let's be positive, it's our turn to shake up the conventions.
  • With humor, his subjective lexicon for learning to "speak contemporary art" is a delight and saves us from "cheesiness" (thanks Frédéric!).
• Nathalie OBADIA, "represents contemporary and French artists and participates in a dozen international fairs" she explains perfectly the strategic issues of "soft power" used wisely by the great economic powers.
  • After the America of Rothko and Wharol, why are Europe and China having trouble convincing?
  • I liked his chapter on "collectors, at the center of the game" which says a lot about our tastes and the social group to which we belong ... Buy to show or assume its choices?
• The Ministry of Culture details its numerical survey of collectors conducted in 2014;
  • the main motivations and profiles are multiple:
    • economic (yield)
    • social satisfactions (possession of work: to enter a socially desired group, satisfaction resulting from the exchange with the members of the group...)
    • collectors become producers by ordering works (for private or public institutions)

In short, thanks to these more recent journalistic analyses, contemporary art history is writing a new chapter. What will remain of the outstanding works at the beginning of the 21st century?

It doesn't matter to me, you have to "Be of your time". To see contemporary creation and understand the movement. This is the reason for my visit to Monaco Art Week. This first edition last April shows the best. Salon PAD art + design meets the expectations of a new clientele!

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