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Art Market Analysis

Price Formation Fragility

Definition

The vulnerability of market prices to manipulation, information asymmetry, and coordination failure when transparent price discovery mechanisms are absent. Prices emerge from opaque negotiations rather than competitive bidding.

Example

A gallery can price an artist's work at any level and refuse sales to maintain price points, creating 'market prices' that reflect strategy rather than demand. When the gallery closes, the price floor disappears.

Source

Art Market Section 4.2

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Related Terms from Art Market Analysis

Architectural Absence

Pre-Institutional Stability

Bifurcated Market

Verification Anxiety

Provenance as Narrative

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