How does the art market choose its winners, thereby also deciding what millions of visitors to galleries and museums will view, year after year? Whereas art historical writing and contemporary commentary tend to highlight the efforts of specific artists, this book illustrates how money and marketing, in combination with general trends, play decisive roles in shaping the art world and in propelling specific artists and artworks to positions of prominence.
Today, perhaps more than ever before, the high-profile art world is primarily shaped by buyers and those who cater to buyers. The actual artists, although most visible to the public, tend to play a secondary role. The time seems particularly ripe for transparency about how the art world works, given the growth in the art market, media attention on—and popular interest in—high-priced art, and controversy surrounding public funding for art and the value of art for contemporary society. With a combination of marketplace observations, marketing insights, and relevant research findings, this book contributes to increased transparency while providing thought-provoking digressions and anecdotes along the way.
Money and Marketing in the Art World offers an accessible analysis of the art market for scholars and graduate students across arts marketing and management in particular but will also be an enlightening compilation for those more broadly interested in art and business.