Scholarly record
ART VALUE AS A RESULT OF INTERACTION PROCESS
Abstract
The concept of value co-creation (VCC), which has been widely discussed in recent years in economic literature, is used in the paper to consider the co-creation of the value of works of art. Three entities involved in co-creating the value of a piece of art are indicated: 1. the artist the creator of a piece of art; 2. the recipient/intermediary in the conclusion of a transaction; and 3. the customer/buyer. Special attention is paid to the interactive nature of creating the market value of a piece of art. In the presented approach, the market value of a piece of art results from the interaction between sellers (artists, property owners, art galleries, auction houses) and buyers (individual and institutional clients banks, corporations, enterprises, investment funds, and museums). The article presents the concept of the co-creation of art value in a dyad, i.e. between the artist and the buyer, or between the seller (the owner of the object) and the buyer, and in the network of buyers, sellers and intermediaries. Consideration of the value of a piece of art in the context of the theory of co-creation reveals the ways of influencing the process of creating the value of a piece of art within arts management.
Publication Impact Profile
- Captures
- Mendeley - Readers: 2
Publication details
ReferencesPending
Structured references will appear here after the reference import pass. The count is preserved now so the scholarly record is not incomplete.
View or Download full articleAccess options
SWS access login
Login as SWS Scientific CommitteeLogin as SWS Scientific PartnerLogin as SWS AuthorAuthors and approved SWS contributors will read and export their own linked papers after identity matching by SWS profile, email and SGEM GlobalID.
For librarian assistance: [email protected]
Purchase Instant Access
- Article can be downloaded after successful payment.
- Article may be used according to SWS library access terms.
- Article cannot be redistributed.
