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The Art Market, Global Economy and Information Transparency

The economic role of art is sustained by complex marketing processes, which tend to modify the aims and conditions of artistic enterprise. The great dynamism which characterises the global markets in which businesses move nowadays also affects artistic enterprises and hence the artist cumentrepreneu...

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Published in:	Symphonya 2003-06 (2), p.73-93
Main Author:	Codignola, Federica
Format:	Article
Language:	English
Subjects:	Art Distribution art market Art Market Information Art Marketing Auction Houses Global Economy Information Transparency keywords Keywords: Art Market
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description	The economic role of art is sustained by complex marketing processes, which tend to modify the aims and conditions of artistic enterprise. The great dynamism which characterises the global markets in which businesses move nowadays also affects artistic enterprises and hence the artist cumentrepreneur. In the global art market, therefore, information flow between demand, supply and distribution, risks being asymmetrical. With globalisation, the art market has recorded considerable changes. The market has become internationalised up to the point of becoming a worldwide market. On the whole, globalisation of the art market appears to have favoured an increase in supply and its revitalization, too. Demand has undergone a remarkable growth, probably due also to its fragmentation and diversification.
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title	The Art Market, Global Economy and Information Transparency
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