Would the Art Market Benefit From More Regulation?
Art critics often complain about their lack of influence, but last year’s ink-stained revolt against the murky and financialized art market has bubbled into something resembling real impact: a front-page (front-page!) article in the New York Times casting a sharp light on the unregulated nature of the market. Coming at a time when an unstoppably climbing market, a spate of ugly lawsuits (Knoedler, Gagosian, et al.), and a new drive to treat artworks as investment vehicles divorced from aesthetic considerations, the article, by art reporter Robin Pogrebin and special-projects editor Kevin Flynn, strongly suggests that “monitoring has not kept pace with the increasing treatment of art as a commodity.” But, as the piece details, there have been various pushes to ensure fairness in art commerce for decades. Why is regulation so difficult to pull off? [Read more in Artspace’s A1 News Roundup]