This is the first sourcebook to trace the emergence and evolution of art markets in the Western economy, framing them within the larger narrative of the ascendancy of capitalist markets. Selected writings from across academic disciplines present compelling evidence of art’s inherent commercial dimension and show how artists, dealers, and collectors have interacted over time, from the city-states of Quattrocento Italy to the high-stakes markets of postmillennial New York and Beijing. This approach casts a startling new light on the traditional concerns of art history and aesthetics, revealing much that is provocative, profound, and occasionally even comic. This volume’s unique historical perspective makes it appropriate for use in college courses and postgraduate and professional programs, as well as for professionals working in art-related environments such as museums, galleries, and auction houses.

This book is for art market researchers at all levels. A brief overview of the global art market and its major stakeholders precedes an analysis of the various sales venues (auction, commercial gallery, etc.). Library research skills are reviewed, and advanced methods are explored in a chapter devoted to basic market research. Because the monetary value of artwork cannot be established without reference to the aesthetic qualities and art historical significance of our subject works, two substantial chapters detail the processes involved in researching and documenting the fine and decorative arts, respectively, and provide annotated bibliographies. Methods for assigning values for art objects are explored, and sources of price data, both in print and online, are identified and described in detail. In recent years, art historical scholarship increasingly has addressed issues related to the history of art and its markets: a chapter on resources for the historian of the art market offers a wide range of sources. Finally, provenance and art law are discussed, with particular reference to their relevance to dealers, collectors, artists and other art market stakeholders.

From T.J. Clark comes this provocative study of the origins of modern art in the painting of Parisian life by Edouard Manet and his followers. The Paris of the 1860s and 1870s was a brand-new city, recently adorned with boulevards, cafés, parks, Great Exhibitions, and suburban pleasure grounds—the birthplace of the habits of commerce and leisure that we ourselves know as "modern life." A new kind of culture quickly developed in this remade metropolis, sights and spectacles avidly appropriated by a new kind of "consumer": clerks and shopgirls, neither working class nor bourgeois, inventing their own social position in a system profoundly altered by their very existence. Emancipated and rootless, these men and women flocked to the bars and nightclubs of Paris, went boating on the Seine at Argenteuil, strolled the island of La Grande-Jatte—enacting a charade of community that was to be captured and scrutinized by Manet, Degas, and Seurat. It is Clark's cogently argued (and profusely illustrated) thesis that modern art emerged from these painters' attempts to represent this new city and its inhabitants. Concentrating on three of Manet's greatest works and Seurat's masterpiece, Clark traces the appearance and development of the artists' favorite themes and subjects, and the technical innovations that they employed to depict a way of life which, under its liberated, pleasure-seeking surface, was often awkward and anxious. Through their paintings, Manet and the Impressionists ask us, and force us to ask ourselves: Is the freedom offered by modernity a myth? Is modern life heroic or monotonous, glittering or tawdry, spectacular or dull? The Painting of Modern Life illuminates for us the ways, both forceful and subtle, in which Manet and his followers raised these questions and doubts, which are as valid for our time as for the age they portrayed.

The Evolution of Contemporary Arts Markets looks at the historical evolution of the art market from the 15th century to the present day. Art is both an expression of human creativity and an object of economic value and financial refuge at times of economic turbulence. Historically, the art market evolved with the development of capitalism, finance and technical change, and art schools responded to social events such as wars, revolutions and waves of democratization. The author discusses the main features of modern art markets such as complexity in art valuation, globalism, segmentation, financialization, indivisibility, liquidity and provenance issues. The book studies the impact of wealth inequality and economic cycles and crises on the art market and features a chapter focusing specifically on the art market in China. This accessible publication is ideal for a broad, interdisciplinary audience including those involved in the economic and financial fields as well as art lovers, art market participants and social and cultural scholars.