By Lavacow Editorial
Art Market Budapest is an international art fair established in 2011. It takes place at Millenaris Park, a former industrial site transformed into a modern exhibition space, in the Buda neighborhood, on the right side of the Danube.
As the organizers describe the fair, Art Market Budapest “defines a new cultural region: young Europe” and brings together not only art galleries from the former East but from all over Europe and even Asia. In an area of some 6000 m2, nearly 100 exhibitors arriving from over 20 countries – with the participation of some 500 artists – were on view. Among the participating countries were: Austria, Croatia, the Czech Republic, Georgia, Germany, Hungary, Israel, Italy, Kazakhstan, Latvia, Poland, Romania, Slovakia, Slovenia, Spain, Switzerland, Turkey and Ukraine.
We received the invitation to introduce Lavacow to the fair’s audience at Inside Art, the parallel program of round table discussions and presentations running during Art Market Budapest. Not only did we participate in Inside Art, but we had the honor to open the program with our presentation On-line opportunities for Eastern-European artists.
The team present in Budapest gave a complete perspective connecting three different aspects of the topic. Cristina Olteanu, CEO and co-founder of Lavacow, offered insights into the Romanian Art Market and analyzed some of the market mechanisms that enabled a six fold growth in Romanian art sales over the past 5 years. Mihaela Muresanu, Lavacow Communication & Brand Manager, presented a case study on luxury brands and investigated on-line consumer behavior as a major decision factor in marketing strategies. Floarea Codrea, Relationship Manager at Lavacow, introduced the new auction house, highlighting the three major innovations we originate: a stable communication channel between the East and the West, an opportunity for market development in Eastern countries that still lack proper market mechanisms, a technological premiere of a virtual auction room. Starting with the historical background and stepping into the present, Lavacow brings together for the first time both emerging and established artists from the Former East in a private initiative that relies on technology to make art known to a wider audience.
The 2013 edition of Art Market Budapest proofed to be a success. It was attended by more than 20,000 international visitors and reported good sales for the galleries. These numbers prove the high demand in the art world for innovative artistic platforms , a much-needed breath of fresh air on the European and global art scene.
We are glad to have been part of Art Market Budapest, the meeting point in Budapest for art lovers, artists, collectors and experts. We highly enjoyed our presence, not only as part of the official fair’s program, but also as part of the audience.