Art Appraisal and Value Creation Strategies

Chapter

Abstract

This chapter analyzes the variables that affect a work of art’s price and deepens our understanding of the economic mechanisms that lead some artists to success and others to failure. This chapter explores how contemporary art markets, or at least a significant element within them, form global contexts featuring buyers and sellers from all over the world, focusing on particular markets to develop the assets that are subject to exchange. This means that price and demand trends in local markets (such as in Italy) is directly influenced by dynamics and rules that belong to other contexts. The most interesting aspect of value creation in contemporary art is the role that asymmetric information plays in this market. The chapter concludes with an analysis of the use of culture as a marketing lever.

Keywords

Network Externality Stylistic Identity Business Investment Indirect Network Effect Auction Revenue 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2013

Authors and Affiliations

  1. 1.Institute of Arts, Cultures and Comparative LiteratureIULM UniversityMilanItaly

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