Neoliberal marketization of art worlds and status multiplexity: Price formation in a Korean art auction, 1998–2007

Art Fairs as a Medium for Branding Young and Emerging Artists: The Case of Frieze London

“…The imponderable value of a work of contemporary art (its uncertain quality) results from its unique characteristic of cultural products (Wijnberg and Gemser 2000;Yogev 2010;Shin, Lee, and Lee 2014;Peterson 1997). From a wider viewpoint, a work of contemporary art is a type of cultural product.…”

“…For instance, vegetables are a representative example of search goods, and restaurants are experience goods (Choi and Kim 1996). In this sense, some scholars arguably classify cultural products as experience goods (Shin, Lee, and Lee 2014). However, even after experiencing cultural products, the uncertainty of their quality endures, as the consumers' satisfaction after buying cultural products will be subjective (Caves 2000).…”

Exploring supply-side network interactions in the visual art production process

“…Arts marketing emerged as an important sub-field of the marketing discipline in the 1990s (see Baker & Falkner, 1991;O'Reilly, 2011;O'Reilly & Kerrigan, 2010;Rentschler, 2002;Shin, Lee & Lee, 2014). Despite a quarter of a century of empirical and conceptual work, the nature of the 'art as product' and the opaque nature of value creation in the art production process remain points of debate in the marketing literature (Fillis, 2006;Lehman, Wickham & Fillis, 2016;Oberlin & Gieryn, 2015) and the art world generally (Robertson, 2016;Thompson, 2008;Thompson, 2014;Timms, 2004).…”

“…The marketing literature does not present a detailed conceptualisation the art production process, nor any specific guidance as to how artwork generates its market value; in particular, it has difficulty addressing circumstances where product development is not directly linked to consumer demand (Kubacki & Croft, 2011;O'Reilly, 2005). Contrary to the traditional marketing paradigm, where producers seek to understand target consumer needs and produce goods/services to satisfy them accordingly, the opposite appears the case in the arts context; here an output is created to satisfy the artists' intrinsic needs, and then is subsequently presented to the art market for consumption (Shin, Lee & Lee, 2014). Similarly, the art world often rejects the materialistic association of the 'product' concept as applied to their creative output, and consumer demand does not generally represent the primary driving force behind art and other cultural-based production (Fillis, 2011;Kubacki & Croft, 2011;Lehman & Wickham, 2014).…”

Introducing Aesthetics Into Status Analysis: The Case of French Contemporary Poetry

“…What we might call status theory (Podolny, 1993) proposes that consecration (“status” in Podolny’s vocabulary) is constructed through associations between actors, leading the actors to choose partners whose status is comparable to theirs. This theory, widely used in the study of artistic consecration (Giuffre, 1999; Menger, 2014; Shin, Lee, & Lee, 2014), tends to undersocialize actors as it only considers their relative position in the status order. In particular, it hypothesizes that when two actors associate, they do so on the basis of their relative position in their respective areas of reference.…”