The art machine: dynamics of a value generating mechanism for contemporary art

Abstract

Purpose – This paper aims to deconstruct the validation process for contemporary art with a fresh take on the components and terminology of this process, here referred to as the art machine.Design/methodology/approach – Existing literature is analysed and key theoretical aspects combined to support the theory that an art machine exists that may process contemporary art for legitimation, sustainability and market success.Findings – Roles played by art professionals and institutions within what is pioneered in this paper as the art machine frequently overlap. Opportunities for success are maximised when and if artists, art schools, galleries, critics, auction houses, museums and collectors manage to work in unison towards the common goal of optimal symbolic and financial value for the contemporary art market.Research limitations/implications – A clear and intelligible deconstruction of the art machine's interacting components should enable interested agents in both established and emerging art markets to be...