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Cultural Capital, Artist Identity, and Market Valuation in Contemporary Visual Art: Emerging Art Markets
Subject area: Arts, Social Sciences and Humanities · Area of research: Art Markets & Cultural Economics
DOI: 10.64388/IREV9I12-1718865
Abstract
The art market has seen tremendous growth over the past few decades, thanks to a number of things. Traditionally, contemporary visual art consisted of paintings and sculptures. Today, visual contemporary art includes digital art as well. Globalization and the advent of the internet both contribute largely to the growth of art markets. Emerging art markets bring together sellers with diverse cultural and social backgrounds. These emerging art markets merge buyers and sellers in ways traditional art markets never did. Not because it wasn’t a thing back then, but technology and social aspects had not caught up with the market. In art markets, cultural capital, artist identity, and market valuation are major factors in an artist's exposure, performance, and sustainability. These factors play key roles in emerging art markets currently, more than ever before. Traditionally, artwork was purchased under speculation; buyers were hoping to buy and resell at a profit. Essentially, it all centered on status symbols and the quirkier the artwork at times, the more expensive the piece would be.
References
[1] Art Market. (2025, November 15). Explore the ultimate guide for art investors, featuring the most investable artists of 2025 and trending artists in the art market in 2025. access an exclusive list of art investors and top collectors driving the industry. stay ahead with art market research, investment opportunities, and Art Basel Sales Insights. uncover art market trends with expert art advisors and Art Investment Advisors. ART MARKET EXPERTS. https://www.artmarketexperts.com/art-collectors/the-new-patrons-how-gen-z-and-millennial-power-will-reshape-the-2026-art-market.
[2] Maddox Gallery. (2025, May 1). Emerging markets in the art world: Developments in the Middle East and asia | maddox gallery. EMERGING MARKETS IN THE ART WORLD: DEVELOPMENTS IN THE MIDDLE EAST AND ASIA. https://maddoxgallery.com/news/433-emerging-markets-in-the-art-world-developments-in/
[3] Matthews, L. (2025, June 6). Contemporary african art market growth & global impact: Afrikanizm. AFRIKANIZM ART. https://www.afrikanizm.com/blogs/afrikanizm-art-news/the-global-rise-of-contemporary-african-art-growth-markets-and-cultural-impact?srsltid=AfmBOoqKWQp5oIGHf5GBJYIuA7QvqVUL-Svn3tRUuWanlRWDUSQ3lzmH
[4] National Museum of Kenya. (2026, April 13). Affordable art show programme – 22-24 May 2026, Nairobi National Museum – Kenya Museum Society. Kenya Museum Society . https://www.kenyamuseumsociety.org/the-20th-affordable-art-show/
How to cite this paper
@article{1718865,
author = {Hamid Taherypour},
title = {Cultural Capital, Artist Identity, and Market Valuation in Contemporary Visual Art: Emerging Art Markets},
journal = {Iconic Research And Engineering Journals},
year = {2026},
volume = {9},
number = {12},
pages = {1435-1440},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1718865.pdf},
abstract = {The art market has seen tremendous growth over the past few decades, thanks to a number of things. Traditionally, contemporary visual art consisted of paintings and sculptures. Today, visual contemporary art includes digital art as well. Globalization and the advent of the internet both contribute largely to the growth of art markets. Emerging art markets bring together sellers with diverse cultural and social backgrounds. These emerging art markets merge buyers and sellers in ways traditional art markets never did. Not because it wasn’t a thing back then, but technology and social aspects had not caught up with the market. In art markets, cultural capital, artist identity, and market valuation are major factors in an artist's exposure, performance, and sustainability. These factors play key roles in emerging art markets currently, more than ever before. Traditionally, artwork was purchased under speculation; buyers were hoping to buy and resell at a profit. Essentially, it all centered on status symbols and the quirkier the artwork at times, the more expensive the piece would be.},
month = {June},
doi = {https://doi.org/10.64388/IREV9I12-1718865}
}