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.