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Essay / The British art market and the economic crisis - 1185
How did the economic crisis affect the British art market from 2006 to 2011? Is the art market a different domain from the economic crisis? My research aims to collate and analyze data from two leading auction companies in the UK, to show the trend of the art market in a changing economic environment in the UK. Furthermore, the article will attempt to demonstrate that the art market remains independent of other economic factors and that the consumption of works of art and antiques constitutes a stable means of investment. By collecting secondary data primarily from Sotheby's and Christi's in the UK, in addition to querying items from the auction company, first-hand and second-hand information will be acquired and applied in the research thesis . Finally, in comparison with traditional business funnels, the article will give clues to the creative business mode across the UK art market. Context: As Moulin (1987) indicated, the art market is the place that allows the exchange of cultural goods for a commodity. The art market includes a wide range of collecting, buying and selling opportunities (Robertson, 2005). Based on the specialized departments of auctions like Christie's and Sotheby's, the items transacted in the market are classified into ancient and ethnographic arts, Asian arts, books and manuscripts, ceramics and glass, collectibles and souvenirs, furniture and decorative arts , large areas. , Jewelry, Paintings & Drawings & Sculptures, etc. (Resch, 2011). However, the state of the art market is still governed by three factors: the availability of art for sale, the global economic environment, and the dictates of fashion (Taylor and Brooke, 1969). A recent report from the European Fine Arts Foundation on the global art market (Du, 2010)...... middle of article...... edge. Spaenjers, C., 2010. returns and fundamentals of international art markets. [pdf] Available at: < http://www.hec.unil.ch/documents/seminars/ibf/430.pdf> [Accessed December 14, 2011] Sociology in Surrey, 1998. Secondary analysis of qualitative data. [online] Available at: < http://sru.soc.surrey.ac.uk/SRU22.html > [Consulted December 15, 2011]. Moulin, R., 1987. The French Art Market. New Brunswick, NJ: Rutgers University Press. Taylor, J.R. and Brooke, B., 1969. The Art Dealers. New York: Charles Scribner's Sons. Turner, PD1997. Secondary analysis of qualitative data. Proceedings of the Annual Meeting of the American Educational Research Association. Chicago: IL. Thorne, S. (1994). Secondary analysis in qualitative research: issues and implications. In J.M.Morse (Ed.), Critical issues in qualitative research methods. Thousand Oaks, CA: Sage.