The secondary market refers to the platform where artworks are bought and sold after their initial purchase, allowing collectors and investors to trade pieces without involving the original creators or galleries. This market plays a critical role in establishing the value of artworks over time and facilitates liquidity, enabling collectors to resell pieces that may appreciate in value. The dynamics of the secondary market can significantly influence the overall art market structure, as it interacts with primary sales and reflects trends and shifts in consumer demand.
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