Through Art Market & You, Art From Us provides you Analysis, Opinion and Factual Reports regarding the current on-goings of the Global Art Market. In this article, we explore the postponing of Art Paris 2020.
Our Director Divvya Nirula presents reports from the international art market with the view to assist our collectors, investors, and all lovers of art.
The novel Coronavirus (COVID-19) broke out in China towards the end of 2019. With Wuhan as its ‘epicenter’ the virus has spread across the globe. First shutting down corporations and cities, and subsequently entire countries. Life as we know it has ceased to exist. People are locked away in their homes. Consequently, the stock market is in limbo. This has brought about a virtual crash in the global economy. Further, governments have imposed country-wide lockdowns. Medical professionals are running helter-skelter to contain the pandemic. Right now even the availability of basic necessities is in question. Therefore, the luxury sector of course takes a massive hit.
The team and I have thus compiled a list of rescheduled and cancelled art events. These events are from across the globe. Coronavirus has certainly caused a great deal of damage in the art world.
Art Paris is a contemporary fair held at the Grand Palais. It is currently in its 22nd edition. However, this year the fair has been delayed. It will now take place in May. Fair director Guillaume Piens announced this in early March. He believes that by May, panic about COVID-19 will end. Thus, that will be an appropriate time for the fair to open.
Around the world, countless exhibitions, events and programmes are currently on hold. Things are unclear as to when the panic will end. Art institutions have closed their doors. Staying safe and alive is the need of the hour. The monetary and non-monetary loss that this global pandemic will cause to the art world seem frightening and incalculable.
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