Publications
Publications
- August 2014
- HBS Case Collection
The Structure and Functioning of Art Markets
By: Mukti Khaire and Eleanor Kenyon
Abstract
The production, valuation, and consumption of contemporary art are guided by cultural and economic forces that play out in primary and secondary markets. Artists seek the attention of art dealers, who, along with auction houses, play a large role in determining what is and is not innovative and important—and therefore valuable—in the market. Museums, collectors, and critics also play a significant role in affecting public perception and valuation of works of art, while ancillary service providers such as advisors, insurers, and private wealth management and financial services firms support the workings of the market.
Keywords
Citation
Khaire, Mukti, and Eleanor Kenyon. "The Structure and Functioning of Art Markets." Harvard Business School Background Note 815-042, August 2014.