“Contemporary art is still a market predominantly based on trust.”

Marc Spiegler is the Global Director of the international art fair Art Basel. On Tuesday 18 October, he gave a lecture at Sciences Po entitled “Art Basel & the Art World: the Transformative Decade”. Interview.

Among the skills you gained during your social sciences studies, which are the most precious to you in your current position as Director of Art Basel?

Marc Spiegler: Political science is in my blood - my parents met while doing PhD work at Sciences Po! Studying social sciences at university greatly affected how I think and work. While the art world often seems like its own cosmos, it is closely connected to and dependent on economic, political and societal developments. And the social sciences teach you to think broadly and long-term when studying concatenated networks, influencers, information flows and power shifts.

In an interview for Le quotidien de l’Art in June 2015, you explained that Western art galleries are showing more and more Chinese and African artists. How is this changing the contemporary art market? 

Marc Spiegler: The contemporary art market has become global at every level, including artists, gallerists, museums and collectors. Historically, an artist had to build up a reputation first in their native land before receiving international attention. Today, a young artist might not be well-known in their country yet already have a large international following, because curators and gallerists look all over the world for artists that fit into their programme.

Is contemporary art governed by the same rules as any other market?

Marc Spiegler: While supply and demand do play a role, as in other markets, contemporary art is a very personal and highly perception-driven industry. A piece of art is not a commodity but rather a unique object. It is not the material, the size or the craftsmanship that you pay for but rather the intellectual or aesthetic value. And even if some cases occasionally turn litigious, it is still a market predominantly based on trust - the handshake deal is still very common and contracts between galleries and their artists remain rare.

Related link

On Tuesday 18 October, Marc Spiegler is giving a lecture at Sciences Po entitled "Art Basel & the Art World: the Transformative Decade". Sign in.

The Sciences Po School of Management and Innovation