Why is the Italian contemporary art market so active?
Art Market | While Arte Povera is already relatively well recognized on the international market, with some of its artists “financialized” (Fontana, Boetti), we are currently witnessing a rebirth of Italian contemporary art and a surge in well-promoted Italian artists. A three-part explanation.
Lucio Fontana, Concetto Spaziale, La Fine di Dio,1963
© Sotheby’s London
A “liquidity” culture
Italians prefer to pay cash. A Bankitalia study highlights this Italian particularity : in 2014, the European mean for annual bank transactions was 97.7 per person, while in Italy only 38.2. The nation is at the bottom of the ratings for European automatic transactions. In this context, art constitutes an alternative financial placement. For example, the Bologna fair […]
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