Sociological Narratives of the Globalization of the Art Market : Performance, Mechanisms and Consequences

Globalization constitutes the most fundamental situation of the contemporary art market. As an emerging topic in the sociology of art, research on the globalization of the art market has focused on three dimensions: performance, mechanisms and consequences. In terms of performance, the globalization of the art market is manifested in several dimensions, including geographical expansion, increased transnational organizations, alteration in sales channels, iteration of buyers and changes in prices. In terms of mechanisms, in the globalization of the art market, traditional market players such as galleries, collectors, curators and auction houses, and new market players such as data providers, consultancies and financial institutions play different roles and represent different mechanisms of practice. The former function as cultural mediators and value constructors, while the latter standardize art values, thus allowing art from different countries and regions to be interconnected. In terms of consequences, the sociologists’ research encompasses both power and institutional perspectives, the former focusing on whether the old ‘centre-periphery’ power relations between countries have become equalized in the process of globalization, and the latter on whether globalization has led to the formation of a unified institutional and organizational model of the global art market. The examination of the globalization of the art market contributes both to an understanding of the logic of change in art and the art world at the present time, and to a deepening sociological reflection on the mechanisms and limits of cultural globalization. As the Chinese art market becomes increasingly involved in the waves of globalization and is largely shaped by the latter, there is an urgent need to advance the sociological study of the globalization of the Chinese art market and its impact.