The Courtauld Institute of Art in London, known for its art history and conservation courses, is venturing into the global art market for the first time with a new masters degree in art and business.
The Courtauld is named after its founder the industrialist and art collector Samuel Courtauld. It opened its doors in 1932.
With the arts facing a difficult funding environment the new MA aims to equip students with some commercially valuable skills alongside an understanding of the history of the art market.
The Courtauld’s director Mark Hallett tells The Art Newspaper: “Times of crisis in the art market are always an opportunity for innovation. Although we might be facing challenges here in London we feel that the art market globally is here to stay and thrive, so our graduates will have lots of opportunities to succeed.”
The course will have three strands. The first will focus on understanding today’s art market, and will be led by Stephanie Dieckvoss, the London art market correspondent for the German business newspaper Handelsblatt. Dieckvoss has a background in the commercial art world and previously directed the art business programme at the Kingston School of Art.
The second strand looks at the history of the art market going back to the Renaissance, covering the rise of the auction house, the emergence of art dealers in Paris and the globalisation of the market in the 20th century.
The third section of the course will be led by business teachers from Kings College London. Hallett says: “The students will have a chance to imagine setting up a gallery or a consultancy and learn all the skills needed to do something like that. The course will be very practical and give them real business insights. We think it will be a unique offering, covering both art historical and modern business training.”
The Courtauld plans to lean on its impressive list of former students who have gone on to establish themselves in the contemporary art world. Its alumni include Noah Horowitz, the chief executive of Art Basel; Oliver Barker, the executive vice president and chairman of Sotheby’s Europe; and Mary Rozell, the global head of art collections at the Swiss bank UBS.
“We’ll be working with a whole army of former alumni and other friends to come and talk about what they do,” Hallett says. “So there will be the classic seminar teaching with tutors as well as meeting a range of experts from the art world.” He added that on graduation, students will also be given mentors to provide ongoing professional support.
The course has 24 places and will be based at the Courtauld’s Somerset House home. Applications open in October and teaching begins in September 2025.
