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The "Zombie Formalism" Bubble and It...

Cave, Kirsten .

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The "Zombie Formalism" Bubble and Its Aftermath: The Evolution of Jacob Kassay's, Oscar Murillo's, and Lucien Smith's Markets and Artistic Developments in Relation to the Financialization of the Art Market.

Record Type:	Electronic resources : Monograph/item
Title/Author:	The "Zombie Formalism" Bubble and Its Aftermath: The Evolution of Jacob Kassay's, Oscar Murillo's, and Lucien Smith's Markets and Artistic Developments in Relation to the Financialization of the Art Market./
Author:	Cave, Kirsten .
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2019,
Description:	220 p.
Notes:	Source: Masters Abstracts International, Volume: 81-08.
Contained By:	Masters Abstracts International81-08.
Subject:	Arts management. -
Online resource:	https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=27735752
ISBN:	9781392751244

The "Zombie Formalism" Bubble and Its Aftermath: The Evolution of Jacob Kassay's, Oscar Murillo's, and Lucien Smith's Markets and Artistic Developments in Relation to the Financialization of the Art Market.
Cave, Kirsten .

The "Zombie Formalism" Bubble and Its Aftermath: The Evolution of Jacob Kassay's, Oscar Murillo's, and Lucien Smith's Markets and Artistic Developments in Relation to the Financialization of the Art Market. - Ann Arbor : ProQuest Dissertations & Theses, 2019 - 220 p.

Source: Masters Abstracts International, Volume: 81-08.

Thesis (M.A.)--Fashion Institute of Technology, State University of New York, 2019.

This item must not be sold to any third party vendors.

Prior to this research, the "Zombie Formalism" bubble in the art market from 2010 to April 2014 has not been the focus of an academic study. This thesis examines both the artistic styles and market dynamics during and after the bubble to test informally proposed causes and examine how affiliation with the bubble and financialization has affected select artists. This thesis focuses on three young contemporary artists criticized for their mass-produced, commodifiable, process-based abstraction and frequently mentioned in relation to "Zombie Formalism": Jacob Kassay because his market was the first to be affected by the bubble, Lucien Smith because his name became arguably most infamously tied to "Zombie Formalism," and Oscar Murillo because his artistic career fared well after the bubble. Analysis of institutional validation, critical reviews, and a dataset compiled from the major art auction houses revealed that artists' careers associated with the "Zombie Formalism" bubble did not disappear after the crash of the bubble. As opposed to traditionally held notions in the art market that a decrease in artists' prices will destabilize an artists' market potentially to extinction, most of the affiliated artists survived through the "Zombie Formalism" bubble, and those artists with a consistently critically rigorous artistic practice and adequate institutional support maintained continual positive growth in their markets. With strong institutional support and an artistic criticality, a young emerging artist's market can be bolstered by financialization through art flipping and affiliation with a bubble due to increased exposure.

ISBN: 9781392751244Subjects--Topical Terms:

3168382
Arts management.
Subjects--Index Terms:

Art flipping

The "Zombie Formalism" Bubble and Its Aftermath: The Evolution of Jacob Kassay's, Oscar Murillo's, and Lucien Smith's Markets and Artistic Developments in Relation to the Financialization of the Art Market.
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520 $a Prior to this research, the "Zombie Formalism" bubble in the art market from 2010 to April 2014 has not been the focus of an academic study. This thesis examines both the artistic styles and market dynamics during and after the bubble to test informally proposed causes and examine how affiliation with the bubble and financialization has affected select artists. This thesis focuses on three young contemporary artists criticized for their mass-produced, commodifiable, process-based abstraction and frequently mentioned in relation to "Zombie Formalism": Jacob Kassay because his market was the first to be affected by the bubble, Lucien Smith because his name became arguably most infamously tied to "Zombie Formalism," and Oscar Murillo because his artistic career fared well after the bubble. Analysis of institutional validation, critical reviews, and a dataset compiled from the major art auction houses revealed that artists' careers associated with the "Zombie Formalism" bubble did not disappear after the crash of the bubble. As opposed to traditionally held notions in the art market that a decrease in artists' prices will destabilize an artists' market potentially to extinction, most of the affiliated artists survived through the "Zombie Formalism" bubble, and those artists with a consistently critically rigorous artistic practice and adequate institutional support maintained continual positive growth in their markets. With strong institutional support and an artistic criticality, a young emerging artist's market can be bolstered by financialization through art flipping and affiliation with a bubble due to increased exposure.
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