The art market is the marketplace of buyers and sellers trading commodities, services, and works of art. The art market follows an economic model that considers more than supply and demand; it is a market where art is bought and sold for values based not only on a work's perceived cultural value, but on its past monetary value as well as its predicted future value.
The art market is the marketplace of buyers and sellers trading commodities, services, and works of art. The art market follows an economic model that considers more than supply and demand; it is a market where art is bought and sold for values based not only on a work's perceived cultural value, but on its past monetary value as well as its predicted future value.
Source: Wikipedia "Art market" · CC BY-SA 4.0
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