Theory of the (visual arts) market

Abstract

To some, the art market is a self-help movement, a private consumer vortex of dreams, a cash-addled image-addicted drug that makes consumers prowl art capitals for the next paradigm shift. To others, the market is just a happy popularity contest, or as New York Times reporter David Carr put it about having his own blog, it\u27s like a large yellow Labrador: friendly, fun, not all that bright, but constantly demanding your attention. For many, the art market is a communal version of the Primal Scene, a sexed-up site that offers a peek into the bedroom of the creative act. Art advisors and collectors now treat art fairs and auctions like Warhol\u27s Factory: Places to flaunt junkie-like behavior while hoping one\u27s creative potential might bloom. In this provocative commentary on the current state of the visual arts market, Jerry Saltz looks at how the ongoing \u27feeding frenzy\u27 is affecting the production, presentation and reception of art. Are we sometimes liking things because we know the market likes them or are we really liking them