Talking Prices

Symbolic Meanings of Prices on the Market for Contemporary Art

by: Olav Velthuis

in: Sociology

Summary:

The book delves into the complex dynamics of pricing in the contemporary art market, examining how economic and social factors intertwine to determine the value of art. It explores the symbolic and communicative aspects of pricing, revealing how artists, dealers, and collectors use prices as a language to convey prestige, reputation, and taste within the art world.

Key points:

1. Price as a Symbol: Velthuis suggests that art prices symbolize more than just supply and demand. They indicate the artwork's quality, the artist's reputation, and the owner's prestige, influencing the artist's legacy.

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