CEO of MYFA gives a lecture on free-ports at the prestigious Ecole Normale Supérieure (ENS) on 05/11/2015
The circulation of art works implies regulations. Journeys are adapted to security, conservation and traceability requirements. In the financialisation context of art and the integration of emerging countries in the art market, the world’s art-work stock is regrouping itself at a few key locations in warehouses or free-ports.
Free-ports, transit platforms for works of art and at the center of the spatial system for the art market, are major stars in the galaxy of the art market. One of the aims of this lecture will be to analyse its operating principles. The example of the Arab countries enables us to articulate the integration of a region discovering the art market, and the strategic positioning of new hubs for the transport of art.
Already acquainted to collecting art, the Middle-East is finding its place in the world ranking of artists with rising ratings. This dynamic is fueled by the inauguration of a number of museums in the Emirates and in Qatar. The market is gradually being built in this region of the world, at the crossroads of Europe and Asia. Despite the boom of the art market, it will be interesting to study the feasibility the region’s ambition to become the main trade and transit hub for collection items – if they can do the same as they did with air-transport.