Economics Of Visual Art

Markets -- Cost -- Price -- Structure -- Failure -- Power -- Labor -- Property -- Investment -- Systems.

From 1933 to 1945, the Reich Chamber of Culture exercised a profound influence over hundreds of thousands of German artists and entertainers. Alan Steinweis focuses on the fields of music, theater, and the visual arts in this first major study of Nazi cultural administration, examining a complex pattern of interaction among leading Nazi figures, German cultural functionaries, ordinary artists, and consumers of culture. Steinweis gives special attention to Nazi efforts to purge the arts of Jews and other so-called undesirables. Steinweis describes the political, professional, and economic environment in which German artists were compelled to function and explains the structure of decision making, thus showing in whose interest cultural policies were formulated. He discusses such issues as insurance, minimum wage statutes, and certification guidelines, all of which were matters of high priority to the art professions before 1933 as well as after the Nazi seizure of power. By elucidating the economic and professional context of cultural life, Steinweis helps to explain the widespread acquiescence of German artists to artistic censorship and racial 'purification.' His work also sheds new light on the purge of Jews from German cultural life.

This book studies the relationship between the arts and the economy. By applying economic thinking to arts and culture, it analyses markets for art and cultural goods, highlights specific facets of art auctions and discusses determinants of the economic success of artists. The author also sheds new light on various cultural areas, such as the performing and visual arts, festivals, films, museums and cultural heritage. Lastly, the book discusses cultural policies, the role of the state in financing culture, and the relationship between the arts and happiness.

The book examines the contemporary art system with a broad and systematic approach, through the application of models of microeconomics and industrial organizations. By breaking down the traditional barriers between different academic disciplines such as art and economics, this book offers a unique opportunity to grasp the complexities of the contemporary art world and provides the tools to conduct a structural analysis of that market. The result is an in-depth analysis of the contemporary art market from an interdisciplinary perspective. While it is not a textbook in the strictest sense, the book offers a concise and effective overview of all actors in the art system, and provides supporting data and valuable information, both conceptual and practical. It is therefore a text that can be used by students wishing to better understand the complex dynamics that govern the contemporary art market, but also by cultural managers, collectors, potential art investors or simply art lovers who need a quick reference.​

Art and finance coalesce in the elite world of fine art collecting and investing. Investors and collectors can’t protect and profit from their collections without grappling with a range of complex issues like risk, insurance, restoration, and conservation. They require intimate knowledge not only of art but also of finance. Clare McAndrew and a highly qualified team of contributors explain the most difficult financial matters facing art investors. Key topics include: Appraisal and valuation Art as loan collateral Securitization and taxation Investing in art funds Insurance The black-market art trade Clare McAndrew has a PhD in economics and is the author of The Art Economy. She is considered a leading expert on the economics of art ownership.

This volume emphasizes the economic aspects of art and culture, a relatively new field that poses inherent problems for economics, with its quantitative concepts and tools. Building bridges across disciplines such as management, art history, art philosophy, sociology, and law, editors Victor Ginsburgh and David Throsby assemble chapters that yield new perspectives on the supply and demand for artistic services, the contribution of the arts sector to the economy, and the roles that public policies play. With its focus on culture rather than the arts, Ginsburgh and Throsby bring new clarity and definition to this rapidly growing area. Presents coherent summaries of major research in art and culture, a field that is inherently difficult to characterize with finance tools and concepts Offers a rigorous description that avoids common problems associated with art and culture scholarship Makes details about the economics of art and culture accessible to scholars in fields outside economics

This work offers a nuanced perspective based on empirical evidence of the role of talent and creativity for economic growth, prosperity, social and spatial inequality, and precarity in creative cities by arguing that creativity and talent need to be valued and eventually rewarded to achieve sufficient conditions for individual economic success. Shedding light on the recent momentum of a growing convergence of cultural and economic spheres in post‐industrial societies by building on a case study of contemporary visual art from interviews with commercial gallerists. Written from an economic geography and historical-institutional perspective while leveraging the analytic strength of the established repertoire of other social science disciplines this book will provide a fascinating read for economic geographers and other social scientists researching the creative and knowledge economy as well as arts professionals aiming to better understand the process of making value of contemporary visual art.

Introduction : measuring the economy of the arts -- Museums in flux -- The exhibitionary complex -- Art and the global marketplace -- Conclusion : non-profits and artist collectives as market alternatives