[SheddingPattern]

Interesting but i wish there was more depth to it. From the article: >there remains a vital commercial subsphere in the artworld The above is offered in opposition to the para-academic side of the art world. However, that sentence does a lot of heavy lifting. There are well known issues with money laundering in the art world, tax evasion, speculation etc... Given that the commercial side of art may notbe a proper market, i am not sure that it is vital in the sense of bringing vitality to the art world.

[bshepard]

Money laundering, tax evasion and speculation are parts of normal market life; their existence does not challenge the vitality of the commercial sphere. This vitality arises from the constant need for novelty that (this kind of) market structure introduces.

[SheddingPattern]

The perception is that this is a large part of what constitutes the art market.