Art World Forum, introduced two years ago, is an emerging global platform which aims to build valuable networks between art professionals and business leaders. It is also a web publisher providing up-to-date art market insight via original editorial articles and intellectual contributions by reputable art professionals.
Through its high quality, high value international conferences, Art World Forum provides unique informational, marketing and networking opportunities to a vast number of art investors, collectors, dealers, insurers, academics, practitioners and overall art enthusiasts. The aim is to be established in each of the world’s key art markets where transactions and investments are taking place.
The second annual event recently took place in Singapore titled ‘Creating Markets: Opportunities, Challenges and the Mainstream’. It took place at One Farrer Hotel & Spa with an impressive line of speakers and art curators that came out with these resonating themes from the event:
-Nurturing young talent and bridging the gap between artists and museums, a role he believes should be led by art historians and curators.
-The dilemma of the legacy collector (long term view of acquiring art) and the portfolio investor (who aims to increase their fortune).
-Virtual Reality will shake up the way art is created and technology will heavily influence art.
-Technology is also acting an enable by growing the online art marketplace is growing.
-There is a downside to technology and social media sharing as some artists may begin to cater to their audiences through what they are creating, thus changing the value of their work.
-The importance of philanthropy in the arts and importance of government funds and private donations working together to boost the arts industry and give artists the space to work freely without concerns of financial stability. Examples were brought in with the change of funding – 2015 government funding for the arts was at S$929.9m, while private funding was cited at S$152.6m. Private donations shown were at S$1361.0m in 2015, however, it was noted that private donations declined to S$865.6m in 2016.
-Arts require education, mentorship and training just like with any chosen profession that the forum hopes to invest in.
Next year’s event will take place in Singapore in 2018. Stay tuned!