Measuring the cultural value of the Royal Scottish Academy New Contemporaries Exhibition as a platform for emerging artists

In our analysis of the cultural value of the Royal Scottish Academy New Contemporaries Exhibition, we assessed the institution's role in shaping emerging artists' careers, as well as wider cultural value. Supported by our conceptual framework of value creation, issues assessed included the expected versus experienced value of the exhibition and the individual artworks, price setting, the market mechanism surrounding the exhibition, and its enhancement. The created cultural value is facilitated by high-visibility media exposure and through development of career-enhancing networks. We have generated new insight into cultural value more generally by moving beyond dominant instrumental valuation approaches. We have addressed many of the gaps in understanding the mechanisms behind engagement with contemporary art. We have progressed theory with the assistance of our conceptual framework and supporting qualitative data. Cultural value is expressed in contemporary art through artistic production systems and its cultural messages. Artists' cultural value is often constructed via the intrinsic worth of their work, rather than from market influences. Cultural value is often personal to the viewer, shared with others and remembered over time. It is also co-created among the other stakeholders involved.