Large Scale Sculpture Market
Delivered November 1, 2019. Contributor: Jennifer P.
Gain an understanding of the market for large scale sculptures, as well as case studies of sculpture
artists who have been successful in different markets
While private collectors in the past tended to
favor smaller household size art
, private collectors are beginning to have larger apartments or live in former industrial buildings, making it more likely they’ll
invest in large scale sculptures.
Many private collectors have also built
large private museums
for which they may buy large scale sculpture.
For example, Indonesian-Chinese collector
purchased an old airplane hangar,
turning it into a private gallery in which he houses many large scale artworks.
Financial investment groups
are also buying large scale art, with some companies starting mutual funds for art and sculptures.
The format for these
art based mutual fund companies
is to invest customers' money into art they wouldn’t purchase themselves, often due to storage or price limitations, that are likely to increase in value and have a strong ROI.
The art based mutual fund trend has increased the sale of both art as a whole and sculptures, as it
increases overall spending power.
It’s also noted that most art purchases are likely to be
made by the super rich
, with private sculpture purchases likely driven by a small group of exceptionally wealthy collectors who purchase items that are
represented by high-profile galleries.
Art collecting as a whole has begun to expand in economies that have seen
increased economic liberalization
, such as India, China, and Eastern Europe.
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