This book is a comprehensive overview of professional activities in the art business. The book examines this rapidly growing industry. Art Business: Art World, Art Market analyzes the institutions and structures of the sector, including galleries, auction houses and art fairs. Examines the rapid development of art finance and its use as an asset class, and provides up-to-date observations on the rapidly evolving auction system, which includes dramatic changes at the major auction houses, Sotheby's and Christie's. This publication highlights the growing crises in the market, including the increasingly unbearable costs of participating in art fairs and the lack of a reliable system for establishing ownership of works of art. Increasingly pressing ethical issues such as toxic museum donors, cultural heritage compliance, and corruption issues are examined in detail. Drawing on new insights into the US art market, the author also provides tips and advice for working art professionals hoping to build their careers.

The result is a contemporary picture of the art business that is suitable for students and creative sector practitioners.