The market metaphors: Making sense of the emerging market for contemporary art in China

Abstract

This article proposes a novel approach to studying markets through metaphor. Unlike other sociological studies of market emergence, it focuses on emic perceptions and their consequences for actions in an emerging peripheral market. By analysing a guiding conceptual metaphor for the contemporary art market in China it investigates how market actors make sense of their market and its global position. It draws on 125 in-depth interviews and observations conducted in Beijing in 2012–2014. The market is conceptualised as an organism and juxtaposed to “mature” Western markets. This metaphor enables China’s market actors to (a) describe the market, (b) justify illegitimate behaviours, and (c) see the future and the possible ways of action. This study contributes to the sociology of markets as it suggests applying metaphor analysis to markets, as well as theorising non-agentic elements of market construction and focusing on the time dimension of market emergence. It contributes to globalisation literature as it discusses the perception of globalisation in a peripheral market, and suggests that this market’s participants do not self-Orientalise.