3. Value versus price. Contemporary art faced with the market
Heinich, Nathalie
3. Value versus price. Contemporary art faced with the market - 2019.
26
While commercial success in art is regarded with suspicion, the latest generation of the contemporary art market has been characterized by a dramatic increase in prices and an overt financialization. Understanding this apparent contradiction requires a shift from reflecting on a singular “value,” as determined by price, to reflecting on multiple “values,” as expressed by value-judgements. Indeed, the increase in price of contemporary artworks reveals an axiological inconsistency with the modern paradigm that still determines much of the general public’s expectations.
3. Value versus price. Contemporary art faced with the market - 2019.
26
While commercial success in art is regarded with suspicion, the latest generation of the contemporary art market has been characterized by a dramatic increase in prices and an overt financialization. Understanding this apparent contradiction requires a shift from reflecting on a singular “value,” as determined by price, to reflecting on multiple “values,” as expressed by value-judgements. Indeed, the increase in price of contemporary artworks reveals an axiological inconsistency with the modern paradigm that still determines much of the general public’s expectations.
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