A substantial value in Japanese art in view of compared statistics in global art market
Japan, with the world’s third-largest GDP its art market is relatively small and this is not so surprising information and wildly-known fact in art scene. For this reason, Japanese art market is being underestimated. However, as same as stock market, it could mean that there is a substantial value to invest in Japanese art market.
According to data published by the Art Tokyo Association, in 2016 Art exported from Japan was worth around 35 billion yen which is 3.1% share of the global art market while United States has 40% share and 20% for China. This compared statistics let us see potential possibility of rise in Japanese art market.
Then, you might wonder, what kind of arts, and which artists you should invest in. In general, we are prone to focus on only well-known artists due to low-risk level. However, investment in famous art works can be risky much more than buying art works of young and little-known artists. For examples, according to statistics below about Korean style Monochrome movement ‘Dansaekhwa’, one of most popular art genre in Asia, it shows its fluctuation rate in global art market recently.
The data chart above is based on 6 representative artists of ‘Dansaekhwa’, Whanki Kim, Lee Ufan, Sanghwa Jung, Park seo-bo, Hyeong-geun Yoon, Ha chong-hyun.
The reason why art investors are investing in famous genre and well-known artists: tradability
The most common reason of tendency why people invest in famous artists in ‘ism’ is due to safety based on tradability. However, as you see the chart above, famous genre and artists are no more secure to invest in. Recently, a try to find art historic values out more to avoid focusing on only in ‘trend’ came to the fore. Due to this reason, the voice is raging like ‘Is this ‘ism’ seriously represent our society? and our identity? and the times?’ This stream means ‘trust-worthy value’ in mainstream artworks can turn into insecurity, unsecured asset.
However, relatively less-known artist’s works have more chance to go up in price drastically high and possibilities to be unearthed in terms of their artistic values unless they don’t quit their artist career. Besides if you consider that Japanese art market was underestimated in the meantime, it is pretty obvious that investing in young and less-known Japanese artists but who work for seeking their identities containing artistic values can be evaluated in optimistic view.
A price bubble in China which took 20% share in global art market, will slowly burst just same as ‘Dansaekhwa’ case in Korea. Compare to other Asian market where has been already grown up, Japanese art market is shown as having a growth potential and safe.
TRiCERA.net was created to connect the world with emerging talent from Japan who are making a name for themselves through exhibitions and awards. If you’re interested in acquiring one-of-a-kind art for your portfolio, we invite you to search through our selection of over 100 artists to find a piece that may offer you a considerable return in the future while providing you with years of enjoyment in the meantime.
Article written by Jeongeun Jo
Jeongeun Jo is from Korea now living in Japan. She is one of the member of TRiCERA who graduated from Graduate School of Fine Arts at Tokyo University of the Arts (TUA/ Geidai). She is also working as an artist herself .