Research On The Operation Mechanism Of China's Art Insurance Market

With the rapid development of China's economy and culture,the auction scale of Chinese artworks has been expanding,and the total market volume growing.Diverse urban activities include many various art exhibitions and exposition activities.The prosperity of art market has created demand for art insurance and created conditions for the development of art insurance.From the existing research,we can learn that in the European and American countries where art insurance was formed and developed relatively early,the art market is relatively mature,and the art insurance market has also been relatively mature and perfect.It can be seen from the systematic industrial chain and the standard service process of professional art insurance companies,and the improvement and development of the market also benefits from the third-party institutions,which focusing on the protection,preservation and restoration of art,such as auction companies providing art storage services,global risk assessment platform,artists foundation,government sponsored National Art Foundation and national art foundation International Art record organization,etc.In China,although art insurance has experienced decades of development,it has not flourished with the prosperity of the art market and is still in a slow state of development.China's art premium income does not match the size of the art market at present.The participants of the market and the government have paid attention to the development of the art insurance market and how to guide its healthy development;in academic circles,a small number of experts and scholars have done research on the art insurance market from the aspects of art valuation and pricing,art insurance product design,art insurance market status and so on.Although the number and depth of research are limited,the pace of research has not stopped.Based on the current study and findings,my research related about how the insurance company and other participants involved in the art insurance market in China,and what factors make the art insurance market function more efficiently.Both native and foreign cases were used in this study paper for examples.This paper will show you the operation process of the market step by step,and list down the problems those are faced by the Chinese art insurance market.Under perspective of market operation mechanism Price theory and Competition theory,illustrate how the supply and demand in the certain market works,how the merchandise valuation and market competition in art insurance market.Try to figure out the operation rules and help to give some feasible suggestions.