Posted Wednesday 17 May 2023
Could purchasing a work of art be a better investment than depositing money into traditional revenue sources like high yield bank accounts or stocks and shares?
A new course launched by Kingston Business School will give investors invaluable insight into the complex and often-secretive practices of the art world. The Art Business short course aims to give candidates the understanding of the US$68bn global art market, under the expert guidance of a Kingston University academic.
Attendees will have an opportunity to learn about the players in the field, pricing systems and value definition. They will also develop an understanding of the international art world and discover how to operate in a regularly evolving industry during the short course, which takes at the Royal Academy of Art, Piccadilly over four evening sessions.
The course is led by Martina Batovic, the University's MA in Art Business course leader, who is an art market professional and former auction house executive. With 20 years' experience in the commercial art sector, she has worked in advisory roles, gallery positions and at auction houses.
"The course is based on my years of experience in the trade and the many conversations I have had along the way with professionals completely bewildered by the nature and opacity of the art world," she explained. "We are introducing the short course to demystify the secretive practices in this incredible global industry. We will be teaching the candidates about valuing, scrutinising the significance of the work and revealing where the value is in the market. These are skills that can usually only be picked up by industry insiders."
However, with art practices and investment in new art work evolving at a rapid rate, contemporary art is also a focus of the course.
Set in the intimate surroundings of the Academicians' Room at the Royal Academy of Arts in Central London, Ms Batovic will share structure, practices and trends in the art world as it enters into its busiest summer season. The hour-long sessions will cover the roles of galleries and auction houses, art finance and art advisers, as well as setting prices and uncovering the distinct business models used by the industry.
Head of Kingston Business School Ian Roberts said the course was an example of how the Business School was leading innovation within this area of learning, providing a number of profound insights across all types of industries and sectors. "By exploring how the art market works and the way it is interconnected with the worlds of finance, law, marketing, insurance, and logistics, to name a few, the course will give participants a better understanding of the international art world. They will then be able to apply directly themselves while operating in an ever-adapting and disruptive sector."