Fine art marketing and consumption

The marketing of visual art has proved to be a challenging topic. In part, this arises from the enigmatic nature of the ‘product’. Some consider the act of creating a work of visual art to be such a pure act of self-expression that it can have little, if anything, to do with a market where buyer and seller meet. Motivations for artistic expression are seen as ‘subjective conceptions of beauty, emotion or other aesthetic ideal’ ( Fillis 2010 : 34). This has led some commentators to assert that artists choose between seeking a pecuniary or non-pecuniary benefit from their practice or, to put it bluntly, make a choice between critical acclaim and money ( Cowen and Tabarrok 2000 : 244). However, regardless of the motivations of artists, a market in art exists and artworks are consumed in a variety of ways: as an outright purchase, a loan or an experience of viewing the work while on public display.