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Questions and Answers
Artworks can be treated as depositories of value and have exchange-values.
Artworks can be treated as depositories of value and have exchange-values.
True (A)
Damian Hirst is an artist known for his involvement in the classical art movement.
Damian Hirst is an artist known for his involvement in the classical art movement.
False (B)
Kazimir Malevich was notable for his contributions to abstract art during the Russian Avant-garde movement.
Kazimir Malevich was notable for his contributions to abstract art during the Russian Avant-garde movement.
True (A)
The price of modern art is influenced only by the size of the work.
The price of modern art is influenced only by the size of the work.
Manny Montelibano's artwork 'Dukot Survival' serves as a metaphor for society's future.
Manny Montelibano's artwork 'Dukot Survival' serves as a metaphor for society's future.
Art's other worldliness and its market appearance are in harmony with each other.
Art's other worldliness and its market appearance are in harmony with each other.
Karl Marx's ideas have influenced artists to explore themes of class struggle and societal change.
Karl Marx's ideas have influenced artists to explore themes of class struggle and societal change.
According to Karl Marx, commodities are only valuable for their symbolic meanings.
According to Karl Marx, commodities are only valuable for their symbolic meanings.
Peter Drucker stated that execution is a commodity, while strategy is an art.
Peter Drucker stated that execution is a commodity, while strategy is an art.
Karl Marx is known exclusively for his contributions to political philosophy and communism.
Karl Marx is known exclusively for his contributions to political philosophy and communism.
The term 'priceless' is often used to describe works of art despite their sale prices at auction.
The term 'priceless' is often used to describe works of art despite their sale prices at auction.
Artworks are described as having only artistic value and no market value.
Artworks are described as having only artistic value and no market value.
Marx believed that commodities exist solely in the mind of the observer.
Marx believed that commodities exist solely in the mind of the observer.
Flashcards
Exchange-Value
Exchange-Value
The value of an object determined by its ability to be exchanged for other goods, services, or money. It is a reflection of the labor invested in its production.
Formula for Art Pricing
Formula for Art Pricing
A set of factors that determine the price of a piece of art. This includes the artist's reputation, the dealer's status, the intended buyer's status, and the size of the artwork.
Modern Art
Modern Art
A broad category of art from 1870 to 1970, characterized by experimentation with form, style, and meaning. It includes movements like Impressionism, Abstract Art, and Minimalism.
Kazimir Malevich
Kazimir Malevich
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"Kaning Tutong"
"Kaning Tutong"
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Art as Commodity
Art as Commodity
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Commodity
Commodity
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Use-Value
Use-Value
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Karl Marx's Concept of Commodity
Karl Marx's Concept of Commodity
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Art's 'Other Worldliness'
Art's 'Other Worldliness'
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Art's 'Pricelessness'
Art's 'Pricelessness'
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Art's Incongruities
Art's Incongruities
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Study Notes
Art as Commodity
- Quotation from Peter Drucker: "Strategy is a commodity, execution is an art."
- Art's otherworldly qualities (aesthetic, spiritual, transcendental) are in conflict with its market value.
- Artworks are sometimes described as priceless, yet they fetch prices at auctions.
Commodity As Conceptualized by Karl Marx
- Karl Marx: German philosopher and political theorist, influenced art.
- His theories on capitalism impacted artists, focusing on social justice and themes of class struggle, exploitation, and change.
- Commodities are articles of utility, physical objects satisfying needs (use-value).
- Commodities also have exchange-value, being exchangeable for other commodities or money, reflecting labor expended in production.
Why Works of Art Are Not Free
- Art tools (digital or manual) are costly.
- Art education involves significant expenses.
- Making art requires time and effort.
- Artists have expenses like bills and food, impacting art pricing.
Formula of Art Pricing
- Reputation of the artist, status of the dealer, status of the intended purchaser, and size of the artwork influence pricing.
Modern Art Pricing
- Modern art encompasses a wide field (1870-1970), including abstract impressionism, minimalism, and performance art.
- Variation in styles and techniques can impact pricing. Simple abstract colors, despite apparent simplicity, can fetch high costs.
Kazimir Malevich
- A central figure in the Russian avant-garde art movement.
- Pioneer of abstract art.
Black Square
- A symbolic piece of revolutionary art by Malevich.
- The Black Square was the reason for Malevich's imprisonment for two months.
Manny Montelibano
- Visayan artist who focused on the "kaning tutong" or burnt rice, creating a preserved art form.
Kaning Tutong (90,000 Pesos)
- "Dukot Survival," an art installation by Manny Montelibano.
- Features a small plastic human figure, symbolizing society's future.
- Displayed at a 2020 art fair in Makati City, Philippines.
- It won at the exhibition.
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Description
Explore the complex relationship between art and its market value as discussed by Peter Drucker and Karl Marx. This quiz delves into the philosophical and economic dimensions of art, examining why artworks are both invaluable and commercially viable. Understand the implications of art as a commodity in society.
