Secondary Market
The marketplace for art that has been sold at least once before, including auctions, resale sites, and dealers selling pre-owned works.
The Secondary Market handles "resale" art. Once a work leaves the artist's studio or primary gallery and is sold again, it enters the secondary market.
The Collector's Take
This is where true market value is tested. While primary market prices are set by dealers, secondary market prices (especially at auction) reflect what buyers are actually willing to pay at that moment.
Why It Matters for Collectors
- Liquidity: This is where you sell. Understanding the secondary market is crucial for exit strategies.
- Availability: The only place to buy works by deceased artists or sold-out contemporary stars.
- Transparency: Auction results provide public data points, unlike the private deals of the primary market.
Related Terms
Primary MarketProvenanceAuction
Visual representation of Secondary Market