Risk-management and crisis communications in modern art-business

The complexity and versatility of the modern world art market have caused asufficiently large number of risks accompanying the activities of its participants.Most of these risks can develop into a reputation crisis, which can bring significantdamage to the art business. In the article, the types of risks characteristic for artbusiness are considered: the risk of reducing consumer interest, the risk of acquiringa fake, the risk of acquiring a stolen item, as well as the risk of non-return ofinvestments made in the purchase of an art object. This research subject matter ofanalysis is the crisis communications strategies fulfilled by the art-business subjectsin the reputation crisis situation.