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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...