Date of Award

2019

Document Type

MA Project - Open Access

Project Type

MA Project - Business Plan

Degree Name

Master of Arts (MA)

Department

Art Business

First Advisor

Judith Prowda

Second Advisor

Ann-Marie Richard

Abstract

In China, contemporary art market has been growing in both value and size for the past few decades. Today, China remains to be a global industry that is worth more than $50 billion annually. (1) Chinese art market according to a report by ArtNet accounted for 20% of the global total sales in 2017. As a result, the work of the Chinese artists fetching multimillion dollars indicates the significance of the market.(2) This growth in the art market is however attracting the attention of investors and raising the confidence of art collectors. In China, traditional Chinese art has become the most popular category of art that collectors have been looking for. For this reason, there is a growing interest among the art collectors for Chinese popular artworks. At the same time, there is a high demand for high value art since some artworks have been running for a value of over $141 million dollars.(3) In 2018, the work of art such as Su Shi’s Wood and Rock scroll that attracted a value of $62 million in Hong Kong. On the other hand, Zao Wou-Ki’s Juin-Octobre was sold for a value of $67.560 million.(4) This means that there is a growing demand for high-end artworks in China. As this demand increases, there is increased need to ensure secured transport especially of high valued artworks across China. For this reason, the aim of Phoenix Fine Art is to solve the existing problem in China of ensuring secured transport and storage of contemporary art. The company will therefore be providing quality transportation and storage services to help artists, galleries, collectors, museums and designers.

1 Artprice.com. "The Art Market in 2018". (Artprice.Com)

2 Artprice.com. "The Art Market in 2018". (Artprice.Com)

3 Gerlis, Melanie. "Hong Kong Art Market Profits Despite Protestors’ Pain". (Theartnewspaper.Com, 2019)

4 Cooke, S, and P Watson. "A Comparison of Regional Export Enhancement and Import Substitution Economic Development Strategies". (Journal of Regional Analysis & Policies, 2011)

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