Tuesday, January 24, 2012

Transnational "Cultural Exchange"

Art from/in China appears to be having a push-pull effect in/on the western art world. Push: According to artdaily.org, "The Zhong Gallery in Berlin will open its doors on January 21 as Europe's first gallery for contemporary art founded by Chinese gallerists."  Pull: Reportedly, the owner of Art Basel purchased a majority stake in ArtHK (Hong Kong International Art Fair).
Mind you, the above are tactics of the traditional art world, whereas the virtual world holds another set of implications.
The potential of Artprice's online auction, Artfire, (see entry "Virtual Security") coupled with SplitArt gives new meaning to the concept of cultural exchange. A recent article in BLOUIN ARTINFO discussed SplitArt as "in the process of being approved by regulators and could be the world's first regulated art exchange that securitizes artworks and sells shares to investors."
Online auctions have secondary implications for the rate of exchange of traditional and contemporary art from China, and the prospect of an art exchange may have tertiary implications. Will 2012 see China's presence in the market go from squared to art cubed?

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