Chapter eleven presents a brief summary and relates our research findings to the
present art market. The process of commoditization we traced throughout the preceding
chapters continues to shape the arts environment. Aesthetic theories and their associated
art products have multiplied corresponding to the market’s expansion; exhibitions
have become enormous in scope; dealers have become even more crucial to the arts
environment; critics further entrenched themselves; a duopoly emerged in the international
auction market; and numerous investment art funds, employing varying business models
have become major players. Art market historians offer their services to art investors,
and even academic art history, studio art and the international museum community
have become an integral part of this multi-