Role in The Art Market
When the Venice Biennale was founded in 1895, one of its main goals was to establish a new market for contemporary art. Between 1942 and 1968 a sales office assisted artists in finding clients and selling their work, a service for which it charged 10% commission. Sales remained an intrinsic part of the biennale until 1968, when a sales ban was enacted. An important practical reason why the focus on non-commodities has failed to decouple Venice from the market is that the biennale itself lacks the funds to produce, ship and install these large-scale works. Therefore the financial involvement of dealers is indispensable. Furthermore, every other year the Venice Biennale coincides with nearby Art Basel, the world's prime commercial fair for modern and contemporary art.
Read more about this topic: Venice Biennale
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