The World of Commercial Art and the International Art Market Essay

The World of Commercial Art and the International Art MarketThe main aims of this research are to con an intelligence of theconditions of the device mart place and to develop a critical knowledge ofthe commercial art world and the relevant international market.The idea that the international art market is a regulator in the postacademy art world has implications on the formation of prices andvalues in the art market, due to the macroeconomic reality, policy-makingand cultural changes of this period.Throughout the nineteenth century, the Acadmie des Beaux-Artscontinued to produce many important artists. It lost its power only atthe turn of the century when it failed to tell apart radical stylessuch as Impressionism and Post-Impressionism. The downfall of academicart also was hastened by economic changes in the art market, whichincluded the growth of independent exhibitions and the victimisation ofprivate sales galleries.Over these years, the unsettled system of financial market which theart market became part of has evolved into a greater conscience of thecomplex demeanour of the individual in hisThe commercial market economy has been favourable for the developmentof the arts.Therefore, the market limits the supply of art and antiques studyingthe consumer economic preference.Hence, market segmentation, division of grate and specialisationcaused a division between high and low culture, and separate good artfrom junk art.In this way, the art market should select the gifted artists in afree and wealthy society that allows a very large number of artists tohave more opportunities becoming financially independent and toacquire artistic freedom.Although, the role played by the dealer in the market, as culturalentrepreneur, is important for maintain the value of the product.In this instance, how best the international art market can beorganized, what is the best way to balance the supply of art and whatis the markets purpose through the dissociation of good art from junkart.The market must restrict the supply of art and antiques selecting thetalented artists, good art, thereafter raising the relative value of awork of art.Therefore and based on this statement, this essay will considerarguments for the market as the regulator of the supply of art andpoint out some of the problems with this markets functionWhat is ... ...Priceless Art, Artists and Economics.(New York Basic)HEILBRUN, J. and GRAY, C.M., 1993. The Economics of Art and Culture,An American Perspective (Cambridge University Press)JEFFRI, J., 1983. Arts Money, Raising it, Saving it and Earning it(Minneapolis University of Minnesota Press)OWEN, V.L., 1979. The Effects of Mass Markets on Artistic Quality, diary of Cultural Economics, Vol.3, no2REITLINGER, G., 1961. The Economics of Taste, vol I, The Rise and betideof Picture Prices, 1760-1960 (Holt Rhinehart & Winston)ROBERTSON, I.A., 2000. The Emerging Art Markets of Great China1989-1999 (London City University)SAVAGE, G., 1969. The Market in Art (Kent Tonbridge Printers)SINGER, L.P., 1988. Phenomenology and Economics of Art Markets AnArt Historical Perspective, Journal of Cultural Economics, Vol.12,no1STEIN, J.P., 1977. The Monetary Appreciation of Paintings. TheJournal of Political Economy, vol.85-5.THROSBY, D., 2001. Economics and Culture (New York CambridgeUniversity Press)Web Siteswww.artprice.com---------------------------------------------------------------------1 SAVAGE, G., 1969. The Market in Art (Kent Tonbridge printers)p.13.