Commercialization Of Art And China

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Commercialization of Art in China
Commercialization of art is a global trend in the 21st century, which makes the artworks known to the public as everyone is able to see it in auctions, galleries and media. Commercialism in the recent days has an important presence in the 20th century and contemporary Chinese art market, since money is no longer an option while people are buying, selling, collecting and dealing artworks not only in China but also all over the world. In less than twenty-year’s time, the contemporary Chinese art market dramatically grew to an enviable position due to rapid expansion of economy, boasting with high market confidence and a record of continued growth in comparison to other markets in the globe
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Globalization and Commercialization of Art
The effect of globalization has changed the art market globally. International trade restriction has eliminated. Civilizations are converging, both physically and virtually (via Internet and electronic media). Despite the financial crisis, art and the other commodities such as gold, jewelry and wine have retained the attention and confidence of the new investor especially in China (Kadhim, 2012). As a result, artworks are traded as asset and have become more of a method that can generate acceptability and credibility. In the general economic concept, process of production and consumption has four key elements: production, distribution, exchange and consumption. Production creates products corresponding to certain human needs. Distribution and exchange allocate the products to the final consumers. However, artworks do not follow such process; they have become the direct objects to individuals that appreciate and collect them. In other words, artworks create the consumers, and the consumption of artworks creates the artists (Kadhim, 2012).
China is a fast emerging country with a consumer society with consumers developing a taste for luxury goods. And art falls into this trend as well. The need of art in China currently seems like it is driven by monetary considerations rather than aesthetic or cultural ones (Joy & Sherry Jr., 2004). In 2014, China accounts for ¼ of
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