Abstract
The economic role of art is sustained by complex marketing processes, which tend to modify the aims and conditions of artistic enterprise. The great dynamism which characterises the global markets in which businesses move nowadays also affects artistic enterprises and hence the artist cumentrepreneur. In the global art market, therefore, information flow between demand, supply and distribution, risks being asymmetrical. With globalisation, the art market has recorded considerable changes. The market has become internationalised up to the point of becoming a worldwide market. On the whole, globalisation of the art market appears to have favoured an increase in supply and its revitalization, too. Demand has undergone a remarkable growth, probably due also to its fragmentation and diversification.
Highlights
An analysis of the art market involves some basic difficulties linked, in particular, to the uncertainty and asymmetry of sector information which often proves to be incomplete and not shared by or accessible to one and all [1]
The economic role of art is sustained by complex marketing processes, which tend to modify the aims and conditions of artistic enterprise
The great dynamism which characterises the global markets in which businesses move nowadays affects artistic enterprises and the artist-cumentrepreneur
Summary
The typical criteria used for this subdivision would appear to be identifiable in the date of execution (for instance of a painting); this being a tool which permits an elementary distinction between contemporary, modern and old works of art The latter are typical of the vast antiques market, which, to a great extent, is separate from that of contemporary art and is characterized by different types of acquisition-distribution of the marketed product, and different factors which influence final prices. In an everyday working context there are some rather generic attempts to classify contemporary works, along the lines of abstract, informal, figurative, etc The presence of these distinctions could be justified with a very simple reason: in the high level market a classification based on the artistic attributes of the works has no sense, so the artist is identified with his/her product and a distinction between works is linked directly to the artist’s name. The market at the lower end of the scale is a different matter where the signature has still not risen to being the dominant feature and where there are a large number of consumers with limited knowledge at whom only elementary classifications may be aimed[8]
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