CJ Home Shopping sold 1,500 of ‘Masterpieces of Pompidou Center Special Exhibition’
only in 1 hour of show on the 22nd.
Domestic art market divided into that of high-end collection works and of low-priced replicas…
Pioneering ‘wall art category’ market of reasonable price range as in the US and Europe.
Will continue to introduce competitive works of domestic and international artists….
Aiming for ‘a painting in every home’  .
“Pierre Bonnard’s L’atelier au Mimosa, sold out!”
This is not a scene from an art auction. A TV home shopping has sold off all art works prepared for the show..
TV home shopping is stirring up a fresh wind in the art market of Korea. While public’s interest in artworks has been rapidly growing over several years, demand to ‘have a piece of artwork in my living room wall’ is quickly increasing. However, there have not been many alternatives to buying replicas without their qualities guaranteed off the underground shops in Express Bus Terminal or Samgakji, etc. Now, TV home shopping is pioneering the new market to quench the thirst of art lovers.
On Sunday, the 22nd of February, CJ Home Shopping (Representative: Lee Hae-seon, www.CJmall.com) aired a show on the ‘Masterpieces of Pompidou Center Special Exhibition’ to sell Giclee prints of 7 of the greatly loved artworks including ‘The Starry Night over the Rhone’ by van Gogh. This show achieved the brilliant record of selling 1,500 pieces in only one hour.
This result has been possible by thorough market research and analysis of consumers’ needs. MD Min Ju-won of CJ Home Shopping who was in charge of product launching personally observed that the public’s interest in large-scaled art events, such as KIAF (Korea International Art Fair), was higher than had been expected. With this, Min could foresee the possibility of success in selling popular artworks.
Min focused on the fact that there was absolutely no market for ‘wall arts’ in Korea rather than the highly expensive works for collection purpose. She saw a ‘blue ocean’ in creating an art distribution market by discovering easily accessible, yet competitive artworks and selling them at reasonable prices. In particular, the fact that TV home shopping is a nationwide broadcasting medium strengthened her conviction that this would be the best distribution channel to develop the art market as such.
Through a number of surveys and FGIs (focus group interview), Min researched customers’ preferences, what their purposes of purchasing were and which price range they could accept without feeling burdened. Based on this research, Min carefully selected artworks that were popular enough, yet could deliver sufficient values.
She also looked into overseas markets. On her trips to the US and France, Min realized that art markets were divided into those of high-priced works for collection purposes and of wall art category and that each of them was very much activated.
Through this process, Min decided to launch ‘masterpieces’ of the internationally popular artists that were familiar to Korean consumers, yet were of greater qualities and collection values. For the first show, she selected 7 of the masterpieces in collection of Pompidou Center and Orsay Museum of France. By making a connection to the ‘Pompidou Center Special Exhibition’ currently held in Korea, Min added to the value of limited editions