Jump to ContentJump to Main Navigation
The Economics of American ArtIssues, Artists and Market Institutions$
Users without a subscription are not able to see the full content.

Robert B. Ekelund Jr., John D. Jackson, and Robert D. Tollison

Print publication date: 2017

Print ISBN-13: 9780190657895

Published to Oxford Scholarship Online: July 2017

DOI: 10.1093/oso/9780190657895.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 22 September 2019

The Ongoing Evolution of the Market for American Art

The Ongoing Evolution of the Market for American Art

(p.250) Chapter 8 The Ongoing Evolution of the Market for American Art
The Economics of American Art

Robert B. Ekelund

John D. Jackson

Robert D. Tollison

Oxford University Press

Chapter 8 concludes with both a summary and an analysis of some of the institutions and events surrounding the American art market—investment, auction estimates, artistic productivity, theft, and bubbles. The peculiar aspects of American art seen through a major market conduit for buying and selling art—the auction—are the basis of understanding the unique quality of American art. This art has been “commoditized” as investors increasingly perceive the return possibilities. Additionally, the American art market has never been more vibrant at any time in history. Technology, particularly the Internet, has become a part of the economic process through which buyers and sellers are brought together. Whether giant Coca-Cola bottles, balloon dogs, or all-white paintings are art or not is irrelevant to the economist. These items are bought and sold as art, and a free and open market must include winners and losers.

Keywords:   art market, auction, commoditization, technology, Internet

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .