Art Madrid'24 – THE PHENOMENON OF THE SHARK AND THE FISHES BANK

The art market is often referred to as a separate sector of the economy that develops in isolation from other business areas. A part of this approach is true: art is not just any product because, whether we talk about antiques or contemporary artworks, they all have unique characteristics, they represent the spirit of their creator, they convey sensations to the viewer, they enclose emotion, passion and a critical purpose not present in any other everyday object. But the other part of this statement is not correct: the art market also suffers from the economic setbacks that affect the rest of the commercial spheres, perhaps the difference is that, due to the exclusivity of this sector, it is not so evident to everyone.

Visiting "Shark", by Damien Hirst, via Skynews

By historical and economic tradition, along with some other factors such as the lower legal restrictions or the speed of bureaucracy, the leading art world markets locate in London, New York, Paris, Milan and Geneva, and more recently, Hong Kong. Spain's position does not exceed a low 1%, a percentage that grows by one point if we stick to Europe. Despite this, we must not underestimate the importance of our national market, which progressively incorporated more professionals, absorbing artists, generating buyers and positioning Spanish contemporary art, with an estimated growth of 42% between 2009 and 2016. In this evolution, some authors point out that we have a recent democracy, compared with surrounding countries, and that before the Reina Sofía Museum was inaugurated, there was no other centre in the country dedicated to contemporary art.

But just when we sat on the top of the wave, a few years after entering the new millennium, a deep economic crisis broke out and shook all the foundations of the system. Art and culture, of course, were the first to suffer the cuts. The castle of prosperity falters, capital flows cut, goodbye to investment, languid farewell to the institutional purchases and bank collections. How does this always resilient sector overcome?

Without a doubt, the crisis has marked a before and after in many economic areas. The paralysis of investments led many businesses to reinvent themselves and resurface from their ashes like the Phoenix. The same applies to the art market. But the result of this readjustment differs quite a lot from the previous scheme, because, not only the capital reduction counts but also the entry into the digital world and a generational change that has led to a transformation in consumer habits and the way of approaching art. After those years of uncertainty, a new model emerges in which people no longer visit the galleries, there is art of online consultation, travel and tours are reserved for large events, concentrated in art fairs, new satellite proposals arise, with virtual galleries, minimal spaces, online sales, and a withdrawal of proposals.

"Tulips" by Jeff Koons

The paradox of this stage started in the second decade of the 2000s is the distance created between types of galleries. In a fully digitised environment, the contours between professional profiles blur. Now it is not only the gallery owner who promotes the artist but the artist himself who invests efforts to gain presence, which leads to a weakening of roles. And amid this tidal wave of events, a phenomenon is gaining weight progressively: the great galleries, successful survivors of the debacle, expand and grow until almost completely assimilate to a museum. From this triumphant position, they are the only ones that can afford the maintenance of large spaces, cover the costs of production of work, participate in the most renowned fairs and continue to open branches abroad. With this dynamic, it happens that these galleries have an irresistible power of attraction over the most promising artists, perhaps discovered by a local gallery now unable to guarantee the promotion to which the creators aspire. Thus, the art world pivots in a sea of ​​events, where the great white shark lives with tiny fish, but they all contribute to maintaining the ecosystem.

Therefore, what happens in the art market, little or nothing is far from what happens in other economic sectors. The influence of globalisation and the uncontrollable tendency to create giants capable of supporting future attacks establishes a network of small businesses that survive in the shadow of those few chosen. This circumstance seems to polarise the sector in two large planes: that of contemporary astronomical price artists who have created real art factories, produce on an industrial scale and are represented by the most famous galleries, and that of artists who are best known at local level, that can modestly live from their work and are distributed, when they have an international presence, between different small galleries. And this pattern is replicated in all commercial areas. The shark and the bank of fishes. With this simple metaphor, we portray one of the most repeated patterns in our capitalist society that applies to the entire industry, whether we talk about fashion, cars or food. That is why the millennial generation has begun to explore alternative models of galleries, with more attention on the artistic quality of young talents and less weight in the exhibition space: 21st-century galleries that open their doors to the future.

 

If you are a contemporary art gallery and would like to be part of Art Madrid'25, you can now apply to participate!

The 20th edition of Art Madrid will take place from 5 to 9 March 2025 in the Galería de Cristal del Palacio de Cibeles. This privileged location, good communications and the quality of the project have always been guarantees of success for an event that reaches 20,000 visitors in each edition.

Art Madrid has been held during the capital's Art Week for the last twenty years, consolidating itself as an interdisciplinary fair of new artistic trends, in which nearly 40 national and international galleries participate, working with painting, sculpture, graphics, photography, installation and digital art of recent production.

Partial view of Art Madrid'24. Contemporary Art Fair. 19th edition, 2024

Art Madrid carries out a series of programs designed by curators, consultants and cultural experts with the fundamental objective of encouraging collecting, promoting cultural dialogue and making the most recent trends in art accessible to the general public. These initiatives are always focused on the constant improvement of the visitor's experience at our event, always seeking to enrich their interaction with contemporary art.

Partial view of Art Madrid'24. Contemporary Art Fair. 19th edition, 2024

PROGRAMS

Gallery Program

Art Madrid's Gallery Program is the heart of the fair. In each edition of Art Madrid, the program consists of around 40 national and international exhibitors.

Parallel Activities Program

The Parallel Program of Art Madrid'25 will have as its main axis the concept of the Territory City. The public space, the city and the territory will serve as a link to the artistic practices that take place in the "imagined spaces" and revitalize the cultural geography of Madrid.

Collecting Program

Art Madrid offers a specialized consulting service for galleries and the public interested in acquiring works of art.

Support Program for New Entries

Through a specific communication package, new entries to the fair will be presented and given special visibility.

Activities

The program will include a series of activities that will take place throughout the month of February and during Madrid Art Week at the Galería de Cristal del Palacio de Cibeles. Likewise, the parallel program will maintain the 2nd edition of the Open Booth, the Performance Cycle, Lecturas: Curated Walktrhoughs by Art Madrid, and the Interviews Section curated by Art Madrid.

Partial view of Art Madrid'24. Contemporary Art Fair. 19th edition, 2024

AWARDS

Best Booth Award

Award that will be articulated around the gallery with the best booth set up at the fair.

New Entry Award

Award will be given to the newly incorporated gallery with the best booth setup and exhibition proposal at the fair.

Emerging Artist Award

Our sponsors, as part of their line of action to promote contemporary art, will offer a prize to one of the revelation artists participating in the fair.

Partial view of Art Madrid'24. Contemporary Art Fair. 19th edition, 2024

Our support for art and culture extends throughout the year and responds to a global vision in which constancy and commitment to the galleries are essential to achieve our objectives of disseminating contemporary art within and beyond our borders; to create new audiences and interest in art and culture in all sectors of society; to strengthen and promote artists, especially young talent; to value art and culture as essential elements of social development; and to create spaces for cultural visibility and communication that are accessible, open and dynamic.



Relevant information

Applications for the 20th edition of Art Madrid'25 can be sent to the following e-mail address: info@art-madrid.com until October 7, 2024