Today’s contemporary art market is dynamic and exciting, but it can also seem opaque and irrational when looking in from the outside. This course offers an overview of the fundamental structures of the business, the people, institutions and organizations through which art flows, and examines the art market in its economic, legal, sociological and ethical dimensions. Students explore the notion of fine art as a financial investment and its effect on the aesthetics of contemporary art today. Also investigated is the impact of changing art world roles and the rise of fairs and other spectacle-based events found on the international art circuit. In addition, students are exposed to research methods and tools for delving into the contemporary art market.
By the end of this course students will…
- Be familiar with the players, institutions and venues that comprise the contemporary art world and the interdependent dynamic among these constituents.
- Understand the history of the contemporary art market.
- Be knowledgeable about how value – economic and aesthetic – is ascribed in the art world.
- Comprehend the market-related issues affecting the art world today as the industry becomes more professionalized and globalized.