4. Uses and prices of art

Abstract

‘Uses and prices of art’ details how, since the early 2000s, strong modernizing forces in the contemporary art market brought money into clear view and unabashed discussion. The prices of art and the forces that threaten art’s autonomy are all part of the story. These include the modernization of the art market, and the competing demands, promulgated by the state and business, that art should be put to use. Corporate art collecting has had a massive impact on the art world and this has been driven by the growing number of the super-rich who buy contemporary art. Ultimately, art has become a standard investment, part of the portfolio of the super-rich, used to spread risk and engage in tax avoidance.