The Art Market as a System

This article examines an essay by Florence Nightingale Levy, published in The American Magazine of Art in 1917, arguing for its significance as a major contribution to the historiography of the study of the art market. and a prescient analysis of the art market. As an art museum employee and publish...

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Bibliographic Details
Published in:American art 2020-09, Vol.34 (3), p.92-111
Main Author: Helmreich, Anne
Format: Article
Language:English
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Summary:This article examines an essay by Florence Nightingale Levy, published in The American Magazine of Art in 1917, arguing for its significance as a major contribution to the historiography of the study of the art market. and a prescient analysis of the art market. As an art museum employee and publisher, Levy worked strenuously to correct the asymmetry of information that she believed put museum directors and curators at a distinct disadvantage. Her essay, in addressing this imbalance, reveals an emerging understanding of the art market as a system and the power of statistical analysis as a means of penetrating the market’s apparent opacity. Critically examined, her essay offers insights into potential pitfalls of focusing exclusively on price as the means of understanding the market as a system, as well as a useful framework for advancing analysis of the art market and the study of the relationship between art and economy.
ISSN:1073-9300
1549-6503
DOI:10.1086/712752