Art as commodity

Definition

Art as commodity refers to the transformation of art into a product that can be bought, sold, and traded in the marketplace. This concept highlights the relationship between art and capitalism, where artworks are valued not only for their aesthetic qualities but also for their potential financial worth. In this context, art's significance can shift from being a purely cultural or spiritual expression to being seen as an asset or investment.

5 Must Know Facts For Your Next Test

1. In the late 20th century, the rise of galleries and auction houses significantly transformed how art was marketed and sold, making art more accessible as a commodity.
2. The concept of art as commodity is often critiqued for commodifying cultural expression, potentially undermining the intrinsic value of artworks.
3. Postmodern artists frequently engage with this idea by challenging traditional notions of originality and authorship through practices like appropriation.
4. Art fairs have emerged as significant platforms for buying and selling art, where the market value is often inflated based on branding and exclusivity.
5. The relationship between art and commerce has led to debates about authenticity and value in contemporary art, with some arguing that market forces overshadow artistic intent.

Review Questions

• How does the concept of art as commodity reflect changes in the value of art over time?
  • The concept of art as commodity shows a shift in how art is perceived from being a cultural or spiritual object to being a marketable asset. This change reflects broader economic trends, particularly in capitalist societies where artworks are bought and sold. As art becomes a commodity, its market value can fluctuate based on demand and trends, impacting both artists and collectors in significant ways.
• What role do postmodern artists play in redefining the relationship between art and commodification?
  • Postmodern artists play a critical role in redefining the relationship between art and commodification by employing techniques such as appropriation and pastiche. By borrowing elements from existing artworks or cultures, they challenge traditional ideas of originality and ownership. This approach critiques the commercialization of art by highlighting how meaning can shift when artworks are recontextualized within the market, effectively questioning whether true artistic expression can coexist with commercial value.
• Evaluate the implications of viewing art solely as a commodity on cultural production and artistic intent.
  • Viewing art solely as a commodity has profound implications for cultural production and artistic intent. When artworks are primarily valued for their market price rather than their emotional or cultural significance, it can lead to homogenization in artistic practices focused on market trends. This commodification risks sidelining innovative or challenging works that may not fit into profitable categories. Ultimately, this perspective can diminish the role of art as a vehicle for social critique or personal expression, leading to a culture that prioritizes profitability over authenticity.

Related terms

Capitalism: An economic system where private individuals or businesses own capital goods and are responsible for producing goods and services for profit.

Market Value: The price that an asset would fetch in the marketplace, influenced by factors like demand, scarcity, and perceived value.

Cultural Capital:

The non-financial social assets that promote social mobility beyond economic means, including education, intellect, style of speech, and even art.