In my original definition of the art market, I highlighted the economic aspects of the market's reliance on supply and demand.  While I salvaged my response's narrow view with a discussion about the ability of fame to change demand, I definitely underestimated the importance of cultural value on economic pricing.  In this course I have learned to appreciate how the market responds to cultural and symbolic value in a positive correlation.  I have also gained a better grip on how one can achieve such symbolic capital.  Art seems to grow in cultural significance when it is exclusive, when it is held in conjunction with other good works in a valued collection, when it is shown by a museum or other culturally important institution, or when there is some sort of intrigue in its history (such as a robbery or a scandal).  I have a new respect for the role that relationships between dealers, collectors, auction houses, and artists play in the estimated value of art.  In this new light, I would define the art market as more of a place where cultural speculation gets translated into monetary terms, to its best ability, based on the interactions and interrelations of the human sector of the market.  

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