Art market and How does it influence the production of contemporary Essay

Art market and How does it influence the production of contemporary art - Essay Example The essay "Art market and How does it influence the production of contemporary art" discusses what influence has art market on the production of contemporary art. Art therefore has always had something to do with financial compensation, as Colin Painter has pointed out. Serious art’s criticality is....both economic and ideological. What sustains its specific character and social value is its political economy. The serious art world is at core an argument about value. It is an argument about aesthetic, moral, social and political or whatever value but it is also, and indissolubly, an argument about financial value. The art market then, deals with the buying and selling of art and has its set of players just as in any area of commerce. Tyler Cowen aptly interprets art in its economic aspects. Art markets consist of artists, consumers, and middlemen, or distributors. Artists work to achieve self-fulfillment, fame, and niches. The complex motivations behind artistic creation inclu de love of the beautiful, love of money, love of fame, personal arrogance, and inner compulsions. ..Consumers and patrons stand as the artist’s silent partners..... consumer and patron demands for artworks finance the market....Distributors bring together producer and consumer......The resultant meeting of supply and demand fuels the creative drive and disseminates its results. ...Creators respond to both internal and external forces. Internal forces include the artist’s love of creating, demands for money and fame.