A Model for the Allocation of Value in Western and Eastern Art Markets - Dissertation Example

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A Model for the Allocation of Value in Western and Eastern Art Markets

This dissertation outlines art as a large part of culture and tradition worldwide, but the definitions and approaches to art can vary significantly depending on the artist as well as the culture that they derive their inspiration from. In particular, artistic inspiration and art form can be divided into two broad categories, Eastern and Western art. These definitions are based on global location of the style and inspiration for the artist, although the artist themselves may not be from this global area. Western art can be defined as art that is created in the styles that are generally accepted in European countries, although it may be created anywhere in the world. Traditionally, Western art consisted primarily of paintings and sculptures, often of religious icons, although there was the development of other artistic styles such as impressionist and abstract art during the history of Western art. Current Western art also includes styles such as modern art, which is often very abstract, and performance art. In contrast, Eastern art is often more traditional and takes greater inspiration from local religion, practices, history, myth and legend. When interpreting art from Eastern cultures, it is important not to do so through the lens of Western art history and values, as this presents a risk of cultural imperialism or bias. The consequence of this may be the marginalization of traditional artistic expression, such as art through handicrafts, folk art, or kitsch, which are often not regarded as art from the traditional Western viewpoint. ...
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Summary

This paper presents a clear view on how value is assigned to art at the macro and the micro level as well as looking at the differences between the two art markets in respect to the way that value is, and is assigned. Using this as a basis, a research methodology will be proposed…
Author : osinskigarret

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