Cultural Heritage and Market Dynamics: A Transatlantic Perspective on Art Regulation

Abstract

This thesis investigates the complex and intricate relationship between legal frameworks, economic policies, cultural practices, and art market performances and how these dynamics influence how art is traded and appreciated. Adopting a comparative perspective, this study provides a comprehensive analysis of today’s art market, emphasizing the legal and financial structures prevalent in Italy and the United States. The aim is to deepen the knowledge of the general framework within which the study will explore certain aspects by analyzing the evolution of the art market, identifying the main players, and comparing the trends and performances of the Italian and U.S. art markets. After providing a general picture, this paper deepens the research exploring the circulation of art objects in and out of the territories of the two nations taken in exam, the different tax regulations and regimes applied to the figures operating in the art market, and the profound difference between the public management of cultural patronage and the private support of culture