Book excerpt: This is the first book to investigate the modern London art market, establishing the central importance of London for the development of the modern retail market in fine art.Leading experts track the emergence and development of the structures and practices that have come to characterize the commercial art system, including the commercial art gallery, the professional dealer, the exhibition cycle and its accompanying rhetoric of press coverage and publicity, and an international network for the circulation of goods.This new commercial system involved a massive transformation of the experience of viewing art; of the relationships between artists, dealers, collectors, art objects, and audiences; and of the very criteria of aesthetic value itself. Its history is thus a vital part of the history of modern art, and this anthology will be of interest to art historians as well as scholars of Victorian Studies, Museum Studies, and Social History.