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Value Chain in the Visual Arts Market

Received: 11 December 2018     Accepted: 17 December 2019     Published: 31 December 2019
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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.

Published in Science Journal of Business and Management (Volume 7, Issue 6)
DOI 10.11648/j.sjbm.20190706.15
Page(s) 164-172
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2019. Published by Science Publishing Group

Keywords

Visual Arts Market, Piece of Art, Added Value, Value Chain, Legitimacy

References
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Cite This Article
  • APA Style

    Elio Amilcar Farfan Torrelles. (2019). Value Chain in the Visual Arts Market. Science Journal of Business and Management, 7(6), 164-172. https://doi.org/10.11648/j.sjbm.20190706.15

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    ACS Style

    Elio Amilcar Farfan Torrelles. Value Chain in the Visual Arts Market. Sci. J. Bus. Manag. 2019, 7(6), 164-172. doi: 10.11648/j.sjbm.20190706.15

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    AMA Style

    Elio Amilcar Farfan Torrelles. Value Chain in the Visual Arts Market. Sci J Bus Manag. 2019;7(6):164-172. doi: 10.11648/j.sjbm.20190706.15

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  • @article{10.11648/j.sjbm.20190706.15,
      author = {Elio Amilcar Farfan Torrelles},
      title = {Value Chain in the Visual Arts Market},
      journal = {Science Journal of Business and Management},
      volume = {7},
      number = {6},
      pages = {164-172},
      doi = {10.11648/j.sjbm.20190706.15},
      url = {https://doi.org/10.11648/j.sjbm.20190706.15},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sjbm.20190706.15},
      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.},
     year = {2019}
    }
    

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Author Information
  • Faculty of Economic and Social Sciences, University of Carabobo, Valencia, Venezuela

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