South Korea’s booming art market leads to increased sales of art investment books

A visitor wearing a mask walks past an exhibit at the National Museum of Modern and Contemporary Art in central Seoul on May 6, 2020. (Yonhap)

SEOUL, March 4 (Korea Bizwire)South Korea’s 1 trillion won ($823 million) art market is encouraging consumers to read more books on investing in art.

Yes24, a leading online bookstore, reported a 549% increase in sales of art investment books last year, after they fell 56.4% in 2019 and then rose only 5.6% in 2020.

Last year, overall art book sales jumped 3.9%, showing relatively stable growth compared to art investment books.

Previously, art book sales were largely driven by those with easy-to-read commentaries on masterpieces from abroad and an introduction to art history and theories.

Today, books that consider works of art as means of investment are gaining popularity.

“The Lee Kun-hee Collection”, released early last month, is currently the number one bestseller in the field of art, sparking new interest among consumers on the merits of collecting works of art. art.

“Books with art commentaries are now being replaced by those that focus on reading the market value of artworks,” Yes24 said.

Ashley Song ([email protected])


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