Taking Advantage of the Undervalued Contemporary Photography Market
Having mentioned the contemporary photography market recently and referring to it as an undervalued market I thought it important to explain why the market is considered to be undervalued.Photography has in the past been considered more of a form of historical recording rather than an art-form but more and more artists have been using the photographic medium to produce fine art.
Cao Fei, A Mirage, 2004
Another factor that has dampened the market has been the debate as to exactly what constitutes fine art photography and what doesn’t, but as the market matures the boundaries are becoming clearer. It has taken rather a long time for the historical recording stigma to be lifted from fine art photography and for it to begin to be accepted as a legitimate form of fine art.
With the digital age and the continuous challenging of the boundaries of fine art, contemporary photography has begun to find its place within the art market. With so much potential yet to be fully realised (undervalued market) and so much discovery to be undertaken, contemporary photography has some exciting times ahead of it.
**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.