A visitor wearing a mask walks past an exhibition 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 (US$823 million) art market is driving consumers to read more books about art investment.
Yes24, a leading online bookstore, reported a 549 percent increase in art investment book sales last year, after they fell by 56.4 percent in 2019 and then grew by a mere 5.6 percent in 2020.
Last year’s overall book sales in the field of art jumped by 3.9 percent, showing relatively steady growth in comparison to art investment books.
Previously, art book sales had largely been led by those with easy-to-read commentaries about masterpieces from overseas and introduction to art history and theories.
Now, books that see artworks as means of investment are gaining popularity.
“The Lee Kun-hee Collection,” released early last month, is currently the number one bestseller in art, raising new interest among consumers on the merits of collecting artworks.
“Books with art commentary are now being replaced by those that focus on reading the market value of artworks,” Yes24 said.
Ashley Song (ashley@koreabizwire.com)
