Art market economy

In ODBK we point out that today, the art market plays a key role in the definition of the contemporary art world, and has a direct influence what future generations will recognize as the art of our current time.

We recognize that the current economic model of the contemporary art market is built over a manipulative and speculative system that should be changed in order to have an equal distribution of the income, attention and opportunities for all participants in the art world.

Proposal for a democratic and equitable art world

In ODBK we see there are important decisions in the art market that affect the global art world and it should be regulated by a commission and laws.

Art market decisions

In ODBK we point out that there are two important factors that directly affect the behavior of the current corrupt art market and that should be regulated. First the importance of the artists is largely affected by the reputation of the spaces. And second the prices of the artworks.

ODBK proposes that these important factors in the art market / art world should be based on the principles of the „Participatory Economics“ (created by Michael Alberts) that read „the decision making is in proportion to the degree one is affected by the outcome of a decision“. In the case of the art market / art world we consider that the parts are  equally affected by the decisions of the institution, the artists and the art lovers. These three parts should conform the Art Market Regulation Commission.(AMARC)

The decisions taken by AMARC are:

  1. Which artists should participate in the spaces: public museums, public art spaces, non-profit organizations spaces, AMARC certified private spaces.
  2. Top prices of artworks in primary and secondary market
  3. Distribution of public funds for visual arts

Law proposal

ODBK proposed a law that every country should add in their tax regulations book. For every art work sold, in the primary or secondary market, above 50 thousand USD a percentage between 10 and 20 should go to a public fund to support emergent artists. The decisions of this fund should be taken by the AMARC.

Active participation of Art lovers

Art lovers are a very important sector of the art world but are not considered in the decisions made by the contemporary art market.

In ODBK we believe that any person can make a valuable contribution to the contemporary art world. Then any person should have the possibility to receive the education / knowledge to understand contemporary art for free.

In ODBK we work to increase the number of people who understand and engage with the contemporary art. And to become active participants in defining the importance of the artists and the quality and prices of the artworks, disregarding gender, nationality, social status, sexual preferences or income. Then we support and create ideas, projects and initiatives that allow any person to affect the decisions in the art market.

Non-Institutionalized Spaces vs. Institutionalized Spaces

In ODBK we consider non-institutionalized Spaces regulated by the AMARC as important as the institutionalized spaces.