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This book explores the attribution and local negotiation of cultural valuations of artistic and art-institutional practices around the world, and considers the diverse ways in which these value attributions intersect with claims of universality and cosmopolitanism. Taking Michael Herzfeld's notion of the "e;global hierarchy of value"e; as point of departure, the volume brings together six empirical studies of the collection, circulation, classification and exhibition of objects in present-day Brazil, China, India, Japan, South Africa and Indigenous Australia in light of Europe's loss of global hegemony. Including reflections by a number of senior scholars, the chapters demonstrate that the question of valuation lies at the heart of artistic and art-institutional practices writ large - including museum practices, museum architecture, galleries, auction houses, art fairs and biennales.