NYU-SCPS Launches New Art Business Certificate

Career-focused, five-course program educates professionals working in the art market

The New York University School of Continuing and Professional Studies (NYU-SCPS) is launching a new Professional Certificate in Art Business for professionals working in the expanding national and global art markets, in such venues as art galleries and auction houses, or as wealth managers, financial planners, or advisors to high-net-worth individuals. Registration for fall 2008 courses is now open on the NYU-SCPS website.

Growing, Dynamic Industry Requires Professional Education

The program responds to the needs of the growing global art market—currently valued at an estimated $25 billion in annual sales—for professionals with advanced training and industry-specific knowledge. New York City is an epicenter of this activity.  Sales at the four major auction houses here topped $2.5 billion in 2005—roughly 10 percent of the world total. And, these auction houses and the City’s more than 600 art galleries generated a total economic impact of $1.4 billion and employed approximately 7,100 people, according to a recent report by NYU Schack Institute of Real Estate economist Rosemary Scanlon. Further, greater activity and higher prices in the high-end art markets have been fueled in part by the increased number of billionaires and multimillionaires in the U.S. and abroad.  In July, for example, ten works of art auctioned at Sotheby’s in New York garnered record prices, selling for tens of millions of dollars each.

The art market’s growth creates career opportunities across a variety of sectors and for many professional roles. The jobs in demand are diverse—from wealth advisor to gallery manager to art business executive—but certain skills and expertise, including current business practices and a familiarity with the fast-changing and complex landscape of the field are essential for success.

"Because of the phenomenal expansion of the global art market in recent years, and the growing need for skilled professionals in a range of art market-related businesses and services, this certificate program is extremely timely," says Terry Shtob, academic program director, Humanities, Arts, and Writing Programs at NYU-SCPS. "This certificate offers participants a chance to learn the complex skills necessary to succeed in the competitive world of the national and international art markets."

Industry-Recognized Credential Attainable Within a Year

For more than 20 years, NYU-SCPS has offered two industry-recognized professional education programs in Arts Administration and Appraisal Studies.  Drawing upon this experience and expert faculty, the new Art Business Certificate aims to educate students about major trends in today’s art markets, the dynamics of collecting, researching and assessing art’s value, counseling clients, current business practices, technology, and the legal and ethical issues specific to the field.

This practical, five-course program is designed to be completed within one year and for a total approximate tuition of $2,200–2,500.  The Art Business Certificate includes three required classes: Today’s American and International Art Market, Law and Ethics in the Art Market, and The Art Auction.  Then, students select two elective courses, such as Starting a Successful Art Business, Wealth Management in the Arts Market, Fine Art as a Financial Asset, The Art Dealer in the 21st Century, and Essentials of Appraising.

Helfpul Links

• Professional Certificate in Art Business
• Humanities, Arts, and Writing Programs