Globalized geographies of the art market - Paper published in 'ERDKUNDE'

Members of the Chair of Human Geography have published a new paper on the globalized geographies of the art market. In the economic geographical study entitled Freeports, elites, and loopholes: A socio-spatial exploration of the globalized geographies of contemporary art trade using the TPSN-heuristic, Michael Krell and Dr. Frank Meyer examined the socio-spatial changes in the global art market since the end of the Cold War.

The explorative study sheds light on a field that has hardly been researched from a geographical perspective and identifies diverse processes of change in the socio-spatial organization of the globalized market: While former Western centers of this market, such as New York and London, continue to dominate the discourse on the high price segments with well-attended art fairs and influential auction houses, new players are challenging these former main players, pushing new customers onto the market, and inflationary price increases have been recorded in recent years

The study identifies five core diagnoses of the globalized art market that can serve as a basis for future geographical research projects.