The Economics of Art

Art, considered one of the subjects of aesthetics, philosophy, and even politics, is also of interest to economics. Although art as a market has become a prominent research and study topic since the 1970s, the roots of the art market actually go back to ancient times. The entry of artworks into investment portfolios as an investment tool began in the 1980s. Moreover, artworks are considered an added value not only in the financial sector but also in the real estate sector.

The Economy of Art, written by academic economist Aylin Seçkin, explains in an understandable language the economic system at play behind an artwork as a commodity leaving the artist's studio, reaching the collector, and changing hands through auctions and galleries. The Economy of Art, which addresses the economic value of artworks, their investment power in money markets, art markets in different geographies, and art sales in crypto markets, sheds light on questions that may come to the minds of not only art economists but also art historians, theorists, artists, gallerists, auctioneers, collectors, and all art lovers.