Keywords: sustainable development, art market, art ecosystem
As part of the academic knowledge-sharing series under the ArtTech Fusion event organized by the University of Economics Ho Chi Minh City (UEH), the special session titled “A Sustainable Art Market: Opportunities & Challenges” aimed to foster a sustainable art market while creating a space for participants to explore contemporary artworks and the core values embedded in each piece.
Special Session 4: “A Sustainable Art Market: Opportunities & Challenges” was chaired by Assoc. Prof. Dr. Trinh Thuy Anh, Vice Dean of the School of Technology and Design, UEH; Professor Carsten Baumgarth from Berlin School of Economics and Law, Germany; and Mr. Ace Le, Curator & Founder of Lân Tinh Foundation.
Accompanying the session were guests and experts from art organizations, media, and a large number of students passionate about technology and art. The discussion provided an opportunity for attendees to gain a deeper understanding of the potentials and challenges in developing a sustainable art market.
During the sharing, Mr. Ace Le, Curator & Founder of Lân Tinh Foundation, presented insights on the process of evaluating and appraising artworks. He introduced the concept of the art ecosystem and guided artists on how to create sustainable value not only within individual artworks but throughout their entire artistic journey.
Speaking about the art ecosystem, Mr. Ace explained that multiple interacting factors contribute to the formation of a sustainable art market. The foundation of this ecosystem includes the education system, legal frameworks, and the socio-economic-political context. Building upon this foundation, artists, heirs, and collectors generate the supply of artworks. These works are then introduced to the public through exhibitions, art fairs, and online platforms. Intermediaries, such as art dealers and auction houses, play a crucial role in connecting artworks with buyers. On the demand side, museums, private collectors, investors, and art funds drive the demand for artworks. Additionally, critics, curators, media, and cultural foundations are essential in shaping public taste and generating interest in art.
This framework illustrates that the art market is a complex and diverse ecosystem where different elements interact closely. To build a sustainable art market, a balance between supply and demand is essential, along with a strong educational foundation, clear legal frameworks, and a favorable socio-economic-political environment.
Art is not only reflected through the artist but also through the role of curators—those who manage, organize, and oversee art exhibitions. Curators help the public understand and deeply appreciate the value of each artwork, laying the foundation for a sustainable art ecosystem where art collectors can truly grasp and cherish the meaning behind every piece.
Following Ace Le’s presentation, students engaged in a lively Q&A session with the two expert speakers, discussing various aspects of building a sustainable art market. The discussion became more animated with exchanges between Professor Carsten Baumgarth and Mr. Ace Le, focusing on the development of sustainable art in Vietnam. Each expert offered unique perspectives based on the differences between the Vietnamese and Western art markets. Through this, students were able to broaden their knowledge and gain new insights on the topic.
The session contributed to raising awareness and inspiring students on their journey to explore the intersections of art and technology.
| As part of the growing ArtTech field, the annual international ArtTech Fusion (ATF) series is hosted by the ArtTech Hub (ATH), in collaboration with UEH School of Technology and Design (CTD), University of Economics Ho Chi Minh City (UEH), and various domestic and international partners, with different themes each year. In 2024, the ArtTech Fusion series was organized under the theme “New ArtTech for Future Generations,” aiming to ignite and promote creative thinking and innovative actions of future generations, contributing to building a sustainable society. Over three days (October 22–24, 2024), ATF24 featured more than 30 academic and practical activities, including 5 keynote speeches, 10 special sessions, 5 parallel research presentation sessions, 5 workshops, 1 academic book chapter publication, 9 exhibitions, 1 heritage connection trip, and 1 tangible performance. In 2025, the fourth ArtTech Fusion (ATF25) will be held with the theme “Co-Creation for a Wondrous Future,” scheduled for September 24–26, 2025. This will be an opportunity to explore, experience, connect, and create within the wondrous world of art and new technologies towards a sustainable future. For updates on ATF25, please visit: Website: https://ath.ueh.edu.vn/ Fanpage: https://www.facebook.com/ueh.arttechhub. |
Author: MSc. Vu Tuong Quyen – Faculty of Media Design, University of Economics Ho Chi Minh City
This article is part of the UEH Research Contribution For All series. UEH warmly invites readers to follow the next editions of UEH Research Insights.
Content & images: Author, UEH Communications and Partnership Development Department
