The article substantiates the mechanisms of the relationship and interdependence of the institutes of private collecting and art market. The author analyses the peculiarities of mutual congruence and interaction of the art market and private collecting areas. Private collecting can also act as a form of consumption of cultural artifacts (material and symbolic), circulating within the art market as well as the method of their accumulation, saving, managing, promoting and communication. The author investigates the concept and principles of the existence of the modern art market and reveals multiple aspects of its essence as an economic and socio-cultural phenomenon, "the market of symbolic values", specific mechanism, through which the art reaches the consumer, and also controls the distribution of cultural artifacts in a society. The author analyzes the notion and essential features of private collecting as the social and cultural phenomenon and identifies the principles of private collection functioning. The system of interaction of the modern art market and the private collecting in the field of the art culture is highlighted in the article, within the framework of its values. At the same time both – the modern domestic art market and private collecting are involved in the strategy of the preservation of cultural heritage and cultural values, aimed at the global socio-cultural result of their introduction into the living space of modern society. The author argues that the institution of private collecting is one of the most significant factors in the development of the modern art market in the contexts of consumption, conservation, trade, systematization and interpretation of cultural artifacts, especially objects of art.