The Christie's Art Business Course
The Christie’s Art Business Course is designed for both art professionals and newcomers to the field who wish to gain the knowledge they need to thrive in today's highly competitive art world.
Prominent art world leaders will guide students through lectures and discussions that will provide an in-depth understanding of the practical and theoretical knowledge that underpins the global art market. Students will be exposed to the nature of the professional art world, its players, network effects, and the economic, institutional, legal and ethical contexts that shape and structure the art market as a business. This set of courses is designed to give students a knowledge base in the business of art that is at once specific and diversified. The Christie’s Art Business Course seeks to prepare each individual with an awareness of the art market’s rich past and the insight needed to create the art world of tomorrow.
The course is modularized with each module designed to complement one another to gain an overall picture of the industry. Completion of all 5 modules results in the award of a Certificate.
Each module is made up of 5 evening sessions running weekly on Wednesdays. They include:
Module 1: Art and Law - September 14 to October 12, 2011
Module 2: The Art Market - October 19 to November 16, 2011
Module 3: Art and Valuation - January 11 to February 8, 2012
Module 4: The Auction House - February 15 to March 14, 2012
Module 5: The Art World Today - April 4 to May 2, 2012
Curriculum
The course curriculum consists of the five modules that are described below in further detail. While we recommend that individuals enroll in all five modules to best experience the Christie's Art Business Course, students can enroll in individual modules.
Module 1: Art and Law
The rules governing the art market today are unique and continually evolving. Every player in the field, whether artist, dealer, or collector, has rights that reach beyond standard business law. This module will present an overview of how the art market is regulated, looking at the laws which guide the market. This course will tackle tax law, artists' rights, contracts between artists and galleries, and consignment agreements and commissions. The laws that regulate intellectual property will also be explored, with a lecture on moral rights, copyright and trademark acts, freedom of criticism and expression, and recreation and fair use. The module will also cover issues of art crime and restitution, including the topics of theft and forgery and issues of cultural patrimony and trade restrictions, along with the legal repercussions of art authentication, restitution, remedy and recovery.
Module 2: The Art Market
The art market is one of the oldest trades. Through a complex mechanism, artwork is transformed into a valued and unique commodity. In the last 20 years, the art market’s growth has been on an unprecedented international scale. This module will present the institutions that have historically played an essential role in shaping the art market since the mid-19th century, and will also examine the art market today, including the rapid growth of art markets in emerging economies. Students will learn who the key market players are and how to understand trade terminology. This module will also look at art investment that is related to external influences, such as price records, return on investment, risk management, and how these function in the art market in contrast to other types of investments. It will also cover the various reasons why people collect, including aesthetics, intellectual curiosity, social status and financial investment. On the surface, the art market remains a great mystery - this module will pull back the curtain.
Module 3: Art and Valuation
Valuing art is one of the most indispensable tools of the art trade, and it is one of the least understood. Value can be defined in both historical and commercial ways - the definition is dependent upon aesthetic and social factors and economic and financial measures. This module will give an overview of the concept of value in the art market. The various types of appraisals (insurance, estate tax, charitable contributions) and the legal and ethical aspects of appraising will also be addressed, as well as a general overview of issues of provenance and the research methods used by appraisers to determine value. This module will also distinguish between authenticating and appraising works of art.
Module 4: The Auction House
The auction is one of the most transparent and efficient sale methods, and one of the most dynamic - it is continually evolving. Auction houses themselves also function as a microcosm of the art world. This module will introduce students to the history of Christie’s and its celebrated sales, and will give an in-depth look into the various departments within the auction house (specialist departments, business development, estate and appraisals). It will also include a behind-the-scenes view of Christie’s New York. Students will learn about how an auction and catalogue are put together, securing lots, dealing with clients, the impact of the Internet on auctions, and the availability of auction sales information. A mock auction will allow students to participate as bidders, offering the opportunity to understand terminology, pricing, conflicts of interest, and the primary role of the auctioneer in the hammer price.
Module 5: The Art World Today
The art world is really an aggregation of art worlds - a network emerging from many smaller micro-worlds, such as museum and nonprofit institutions, auction houses, galleries, art fairs, critics, consultants, historians, and collectors. This module will expose students to the different roles that participants play and the interconnectivity of the art world as a whole. Topics to be covered include: dealer motivation and image, PR, client relations, buying and pricing methods and the importance of museum relations. While many people are familiar with the front counter and exhibition space at a gallery, few truly understand the workings behind the scenes. Students will get an in-depth look at gallery operations, relationships with artists, pricing, and how galleries identify an emerging artist of quality. Students will also see the non-commercial side of the art world – museums and alternative spaces – that is a vital source for many contemporary galleries. The rise of art fairs has had a profound effect on the art market in the last 15 years – this module will include a panel discussion with prominent art fair directors, and will explore the history and future of the art fair, the all-important role of geographic location, and the considerations and complexities involved with production. We will also examine the prevalence of art consultants in the market today, and how the expansion of professional fields within the art world attests to the growth of the art market itself.
Certificate
The completion of all five modules results in the award of a Certificate.
Entry Requirements
There are no educational prerequisites for this course. Enrollment in a module is confirmed once full payment for that module is received.
To register, please download an Art Business Registration Form.
The Christie's Art Business Course
Course Dates
Wednesday evenings, 6:00pm-8:00pm
Module 1: Art and Law
September 14 to October 12, 2011
Module 2: The Art Market
October 19 to November 16, 2011
Module 3: Art and Valuation
January 11 to February 8, 2012
Module 4: The Auction House
February 15 to March 14, 2012
Module 5: The Art World Today
April 4 to May 2, 2012
Course Fees
$3,000 per module
$15,000 for full Certificate Program (all five modules)
Registration fee: $35
To register...
please download an Art Business Registration Form.
