The article Art for Money’s Sake written by William Alden throws light on some of the important trends related to art dealing. In particular, the author speaks about the functioning of an art-storage company which is called Uovo. This organization serves the needs of various affluent clients. At first, one should speak about people who want to purchase various artworks representing different historical periods. In particular, the company enables potential buyers to learn more about various paintings which are available on the market.
It should be mentioned that Uovo has a very elaborate database which helps clients to search for various artworks (Alden). This is one of the competitive advantages that this company has. To a great extent, this organization performs the functions of a mediator. More importantly, this company enables customers to evaluate a painting as a potential financial asset (Alden). In particular, they can tell buyers if the price of the painting will change in the future.
This service is of great use to people who want to buy the paintings of artists whose works may grow in value in the future (Alden). This is one of the details that should be taken into account. Additionally, Uovo serves the needs of investors who want to store an artwork in a safe manner. This opportunity is also of great importance to many affluent individuals because they want to make sure that an artwork is not stolen or damaged in any way.
To some degree, this organization performs the functions of a bank and a consulting company. This example is important because it demonstrates how art market may function during the following decade. This is one of the details that should be taken into consideration by the readers by the reader of this article.
Additionally, William Alden notes that affluent Americans tend to regard artworks as a form of investment. At the global level, this market has constituted $ 68 billion (Alden). This tendency creates many opportunities for companies that provide services to such clients. For example, these people may need the services of people or organizations that can evaluate the potential financial value of a painting or a sculpture. This is why companies like Uovo begin to play an important role in the future.
On the whole, the author mentions a very significant issue that should not be overlooked. In particular, one should speak about the changing role of art. At present, it is not only the expression of ideas, feelings, or thoughts (Alden). At present, art has turned into a tool for gaining or preserving monetary value (Alden). In other words, it has turned into a financial asset.
Furthermore, such organizations like Uovo can shape the work of many artists, because the opinions of such agencies will be recognized by many affluent buyers (Alden). This is one of the aspects that should not be overlooked. Nevertheless, one should keep in mind that this market remains relatively unregulated at this point. This is why clients may face potential risks.
More importantly, many artworks can be concealed from viewers for a long time. Therefore, many people will not be able to appreciate them. This is one of the problems that should not be disregarded. It is quite possible that this trend will become even more prominent in the near future. The article William Alden is both informative and thought-provoking.
Works Cited
Alden, William. “Art For Money’s Sake” The New York Times, 2015: 16. Web.