Since Sotheby’s auction house opened in 1744, the art market has grown and now sells pieces for millions of dollars every day. My project explores the societal and technological changes which have occurred throughout modernity to understand why paintings like The Scream were bought for over $119 million.
Commodity fetishism and the global art market
Using Marx’s exploration of capitalism I focused on what constitutes a commodity and how art has been fetishized. I then incorporated Vattimo’s use of telematics and globalised media to demonstrate capitalisms more recent developments; this enabled me to discuss the role paintings have played in a global billion dollar market. In contrast I also looked back to 15th century artists, to understand if art has become a commodity only with the advent of capitalism and technology.
Mechanical technology and mass production
I used Benjamin’s philosophy of mechanical reproducibility to highlight the importance of technological advancement, especially that of mass reproduction, in selling the image of a work enabling fame and exposure to a wider market.
I also looked to how these factors of the current market affected the minds and work of artists themselves using the philosophy of Andy Warhol, and the artwork of Damien Hurst, Warhol himself, and Julian Opie. All of these artists demonstrated the drive of a capitalist mind-set, have benefited from global exposure, and produce pieces using technology invented in a postmodern age such as laser printing and spinning. My goal was to ultimately demonstrate that the market has changed both the nature of the art which is produced and opened the art world up to everyone on a global scale.
Internally replicable model of the art market
Mass reproduction of famous classical/modern works (such as The Scream and No.1)
Original work becomes more valuable as its image and fame is spread over a global market (both sold for millions)