What is Secondary Market Art?
New to art and design? If so, you may be hearing phrases like “secondary market” thrown around. Although the secondary market isn’t exclusive to modern or contemporary art, it’s often where I start when I create a narrative for any of my space. When I design, I like to incorporate secondary market art so that I can build the art and artistic elements around it. Are you interested in learning how you can do this too? Here’s what you should know.
What is the secondary market?
The secondary market refers to deals in works that have been sold at least once already. The first sale of an artwork, which could be through a gallery or straight from a studio, is referred to as the “primary market.” The secondary market is often most prevalent when an artist is highly desirable or established in the industry. They may be riding a fame bubble, or they could have a longer and more successful career.
Why would someone sell a work once they’ve already purchased it?
There are a ton of reasons why collectors sell on the secondary market. First and foremost, the aim is often to make money. If the piece in question is from an artist who is desirable in the industry, they may be looking to maximize profit during the artist’s career peak. Collectors also attempt to create a diversified collection, and if they’ve held a piece for a long time, they may feel it’s time to bring in something new or different.
How should you use secondary market art in interior design?
When I design spaces, I see secondary market art as a very good vocal points. It gives me the opportunity to pick up a major work from a major artist without needing a substantial amount of capital. Then, I can create a narrative and build up the design around that specific piece of art.
One of my favorite examples is E’wao Kagoshima, a renowned Japanese artist whose imaginative paintings, sculptures, and collages are known internationally. It’s been years since Kagoshima’s work was widely seen in New York, and thus you’d most often find his paintings in private collections.
If I want to design a space around one of his surrealist paintings, I would buy it off of the secondary market and start from there. His pieces are incredibly unique and often have dream-like elements that immediately draw someone’s attention as soon as they walk into a room.
Visit here to peruse E’wao Kagoshima’s work.
Final thoughts
Purchasing art from the secondary market is a good solution for interior design for any space. It can help you find pieces from artists (like E’wao Kagoshima) that may be otherwise difficult to locate as they’re in private collections. Start with a piece of artwork that you love and build your narrative around it – I find it’s one of the best ways to pull a space together.