School of Economics, Business Administration and Legal Studies, MA in Art, Law and Economy
Grammatikaki, Alexiou Anastasia
This dissertation was written as
part of the MA
Art, Law and Economy
at the International Hellenic University.
This dissertation paper explores the mechanisms of the evaluation of art regarding
both its economic values and non
economic values, the interrelationship that may exist between these two groups of values, and as well the issues that arise through the
into account various
perspectives on the art market
art’s value and examines the issues that may arise.
The first chapter introduces the values that
works of art incorporate
and how these
the art market. The second chapter presents an examination of
the structure of the art market, the mechanisms of pricing a work of art, as well the
factors that may cause variations in
the matter, the issues of art’s value and status in the art market that arise, are also examined. The
chapter deals with the artists’ incentives, behavior in the art market and legal issues
surrounding the works of artists today. The fourth chapter examines the uncertainties
and risks that exist in the art market. The last chapter analyses the
place among artists, galleries and various participants in
the art market.