Disappearing acts: fictitious capital, aesthetic atheism, and the artworld

Abstract

This article argues that as the market for art rises to prominence both economically and conceptually, the artwork becomes a form of ‘fictitious capital’ that threatens the ontological status of the object and forces reconsideration of the role of the museum. These issues are examined through the lens of empirical market data, contemporary art, and analytic aesthetics. David Carrier’s conception of ‘aesthetic atheism’ is tested against the background of both recent developments in the art market and creative strategies that stage the disappearance of the artwork. It is argued that the proliferation of spectacular auctions, art fairs, and information about sales prices results in a new object of appreciation: the market itself. The result is that the market is ‘aestheticized’ and constituted as a unique sphere of social goods in which the values traditionally associated with art are displaced.

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