The art market refers to the economic system where artworks are bought, sold, and traded. It includes various segments such as galleries, auctions, and online platforms, where artists, collectors, and investors interact. Prices can vary widely based on factors like the artist's reputation, the artwork's provenance, and current trends. In the art market, different types of art, including paintings, sculptures, and photography, are valued differently. Major auction houses like Sotheby's and Christie's play a significant role in setting market prices. Additionally, art fairs and exhibitions help promote artists and their work, influencing buyer interest and market dynamics.