Many art dealers can learn a lot from the Joseph Duveen legacy in the art market. He was an exceptional trader who could masterfully identify problems in the market and offer solutions. One example was with John D. Rockefeller Jr., who agreed to meet Duveen’s price not to give up busts. Quality assurance accelerated Joseph Duveen’s legacy. He only dealt with art pieces of high value so he could control the price and the supply as well. Also, his buy-back policy helped him maintain a firm grip on the market for the best Old Master paintings and sculptures. Lastly, he became very profitable due to cultural ambition in America.
Joseph Duveen legacy in the art market
THE CULTURAL AMBITION IN AMERICA AND JOSEPH DUVEEN LEGACY
Due to the cultural ambition in America, Joseph Duveen was able to utilize this aspect to sell art pieces to wealthy American industrialists who rose to power after the end of the Civil War. These were people involved in mining, oil trading, steel manufacturing, transportation, among others. At the time, the art market was full of wealthy people seeking unique, high-quality, and expensive pieces of art. Thus, Joseph Duveen would be the art trader that delivered the needs of the wealthy. These people also had a significant influence on the economy and the cultural ambition in America, all of which improved Joseph Duveen’s legacy.
cultural ambition in America and Joseph Duveen legacy
THE ART MARKET AS A GLOBAL BUSINESS
Apart from Joseph Duveen’s legacy, the art market is now a global venture that forms the main source of income for many artists. The market is highly diverse, with shifting consumer wants as generations go by. In the art market, the wealthy still have more control over the supply and demand for precious pieces of art. They include collectors, investors, and museums. Their main goal is to acquire art that is significant to particular historical periods. For many aspiring artists, cultural ambition in America enhances their chances of success. Lastly, they can gain insight on how to make art that reflects the general economic and evolutionary trends.
art market as a global business
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