The structure of the contemporary art market is complex and, even for experts, it is not easy to grasp. It takes sound specialist knowledge and analysis to penetrate the particular mechanisms that have a global impact on valuation. For example, what criteria can be applied to the assessment of new works? How does the valuation process unfold in practice? What is the significance of art indices and databases?
In order to address these fundamental questions, AXA ART presented a new academic study – derived from an international survey of art experts – that sheds some much-needed light on the workings of the contemporary art market.
A summary of the study is available here.