Value Chain in the Visual Arts Market
Science Journal of Business and Management
Volume 7, Issue 6, December 2019, Pages: 164-172
Received: Dec. 11, 2018; Accepted: Dec. 17, 2019; Published: Dec. 31, 2019
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Author
Elio Amilcar Farfan Torrelles, Faculty of Economic and Social Sciences, University of Carabobo, Valencia, Venezuela
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Abstract
The added value allows an asset or a service to meet a specific need. The value chain represents all those activities properly organized, which create these assets and services to make them available for final consumers. Documentary review has revealed that in the visual arts market these roles are not always adequately defined and often, the agents involved are unaware of their functions and responsibilities, generating aesthetic and financial distortions or imbalances that hinder this economic activity. This article aims to reveal this value chain as a way of legitimizing a piece of art as well as the benefits that some of these links have brought recently, given the new relationship between art and people. Such is the case of museums, especially the Guggenheim in Bilbao, with its positive impact on the economies of the communities that house them; art fairs, in the globalization of artists, works and aesthetic tendencies and art critics who influence the behavior of consumers and markets.
Keywords
Visual Arts Market, Piece of Art, Added Value, Value Chain, Legitimacy
To cite this article
Elio Amilcar Farfan Torrelles, Value Chain in the Visual Arts Market, Science Journal of Business and Management. Vol. 7, No. 6, 2019, pp. 164-172. doi: 10.11648/j.sjbm.20190706.15
Copyright
Copyright © 2019 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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