Booming Art Market Doesn’t Necessarily Help Artists

“Over the past decade, the contemporary art market in Australia has exploded, and it’s not only corporations who are buying. An art market analyst, Michael Reid, says 1.3 per cent of the population were buying art 10 years ago – now roughly 5 per cent are purchasing. While a burgeoning market can be an enormously positive thing, in that it encourages diversity in the art market and introduces Australians to art, the dollars do not necessarily trickle down to the majority of artists, especially riskier, less-marketable artists.”