Art Market Economics
Market saturation occurs when a specific market is no longer able to absorb any additional products or services, resulting in a slowdown of sales growth. This concept is crucial as it influences pricing strategies, affects the behavior of collectors, shapes the approach of artists and galleries at art fairs, signals trends in the art market, and can lead to issues such as forgery and fraud when competition intensifies.
congrats on reading the definition of Market Saturation. now let's actually learn it.