The creation of Art is funded through: government, lottery or charity grants; scholarships; competitions; artist in residence schemes; patronage; or is self-funded.
As art and commerce becomes inextricably linked in our daily lives, so art looses its status and importance. The rich buy art as an assertion of their economic standing and good taste.
You may be interested in viewing the work Stradivarius Liberatus at 100 Artworks which was created in response to a photo of a potato that sold for one million dollars.
Art becomes the fool's gold of our times...
Art is bought and sold, valued and devalued depending on the taste and whims of the paying consumer.
An artwork often compliments an existing environment: a corporate building, a person's home, a cultural establishment. The artwork must reflect the values and attitudes of the commissioning agent, it must present 'appropriate content', be the right size, shape, duration, colour, and produced using media that reflects and promotes the consumer's corporate, organisational, or personal persona.
As the interior world of the consumer changes, so the artwork is replaced. Art becomes disposable.
The primary emphasis of art has altered as the commercial art market has grown. Art for many is now often no more than fashionable decoration.
Art institutions, critics, administrators, agents, galleries and auction houses sell to buyers in a fine art marketplace that distances itself from what is considered the crass and vulgar sale of mass produced greetings cards, posters and prints available to the general consumer.
The role of the institution and expert in the art market is crucial in confirming to others who are not confident in their own critical or aesthetic judgments, that an artwork is worth a particular amount of money. In this endeavour, the art market protects exclusivity above all else, as this drives prices ever higher. The art market seeks to exchange unique objects and avoids popular and public art.