The contemporary art market - Italy

The history of contemporary art begins in the late 1700s and early 1800s and extends to the present day. The term "contemporary" refers not only to living artists, but also to artists of past centuries, such as those of the 19th and 20th centuries. Artists and works from the Renaissance, Baroque, and Romantic periods can be considered modern, although they are often not labeled as such. The historical avant-gardes, such as Cubism, Futurism, Symbolism, Dadaism, Surrealism, and Expressionism, were the first significant movements in contemporary art. These movements were distinguished by their quest for expressive freedom, irrationality, subjectivity and opposition to the conventions of the time. Some of the major artists in contemporary art include Pablo Picasso, one of the founders of Cubism; Andy Warhol, representative of Pop Art; Francis Bacon, known for his powerful angst-ridden works; Salvador Dalí, a representative member of the Surrealist movement; and Banksy, a famous street artist and social critic. These artists have left a significant imprint on contemporary art, defying convention and leaving a lasting impact on the art scene.[Galmcasa] Postwar contemporary art dominates the market, accounting for 55 percent of the $6.7 billion value of global art auction sales, up 42 percent from the previous year. Newer works, created in the last 20 years, account for more than a third (37%) of that value.[Artbasel]