The World of Commercial Art and the International Art Market
The main aims of this research are to acquire an understanding of the
conditions of the art market and to develop a critical knowledge of
the commercial art world and the relevant international market.
The idea that the international art market is a regulator in the post
academy art world has implications on the formation of prices and
values in the art market, due to the macroeconomic reality, political
and cultural changes of this period.
Throughout the nineteenth century, the Académie des Beaux-Arts
continued to produce many important artists. It lost its power only at
the turn of the century when it failed to acknowledge radical styles
such as Impressionism and Post-Impressionism. The downfall of academic
art also was hastened by economic changes in the art market, which
included the growth of independent exhibitions and the development of
private sales galleries.
Over these years, the unsettled system of financial market which the
art market became part of has evolved into a greater conscience of the
complex behaviour of the individual in his
The commercial market economy has been favourable for the development
of the arts.
Therefore, the market limits the supply of art and antiques studying
the consumer economic preference.
Hence, market segmentation, division of labour and specialisation
caused a division between high and low culture, and separate good art
from junk art.
In this way, the art market should select the talented artists in a
free and wealthy society that allows a very large number of artists to
have more opportunities becoming financially independent and to
acquire artistic freedom.
Although, the role played by the dealer in the market, as cultural
entrepreneur, is important for maintain the value of the product.
In this instance, how best the international art market can be
organized, what is the best way to balance the supply of art and what
is the market's purpose through the dissociation of good art from junk
The market must restrict the supply of art and antiques selecting the
talented artists, good art, thereafter raising the relative value of a
work of art.
Therefore and based on this statement, this essay will consider
arguments for the market as the regulator of the supply of art and
point out some of the problems with this market's function
«What is considered art changes over time...»
The term "art market" is refering to the "organisation through which
works of art, modern or antique, are distributed by auction-houses,
dealers or private buyers".
The international art market is based upon individual players whose
motives are ultimately the maximisation of art.
In this way, the market developed into the international scope due to
the proliferation of the figures of dealers and auction houses, whose
international work in Holland, England, France and Italy became
recognised in nineteenth century.
Hence, Academic art,...