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Art Market (art + market)

Distribution by Scientific Domains
Humanities and Social Sciences66%
Business, Economics, Finance and Accounting33%

Selected Abstracts

Financial Returns and Price Determinants in the Australian Art Market, 1973,2003*

THE ECONOMIC RECORD, Issue 253 2005
HELEN HIGGS
In this study, 37 605 paintings by 60 well-known Australian artists sold at auction over the period 1973,2003 are used to construct a hedonic price index. The attributes included in the hedonic regression model include the name and living status of the artist, the size and medium of the painting and the auction house and year in which the painting was sold. The resulting index indicates that returns on Australian fine-art averaged 7 per cent over the period with a standard deviation of 16 per cent. The hedonic regression model also captures the willingness to pay for perceived attributes in the artwork, and this shows that works by McCubbin, Gascoigne, Thomas and Preston and other artists deceased at the time of auction, works executed in oils or acrylic, and those auctioned by Sotheby's or Christie's are associated with higher prices. [source]

Cultural Sovereignty in a Global Art Economy: Egyptian Cultural Policy and the New Western Interest in Art from the Middle East

CULTURAL ANTHROPOLOGY, Issue 2 2006
Jessica WinegarArticle first published online: 7 JAN 200
The post-1989 transformation of the Egyptian art world reveals the particular tenacity of colonial logics and national attachments in culture industries built through anticolonial nationalism and socialism. Tensions emerged between and among Western and Egyptian curators, critics, and artists with the development of a foreign-dominated private-sector art market and as Egyptian art begins to circulate internationally. This international circulation of art objects has produced rearranged strategies of governance in the cultural realm, collusions and conflicts between the public and private sector, and, most importantly, a new articulation of cultural sovereignty. [source]

REVIVING THE ROCOCO: ENTERPRISING ITALIAN ARTISTS IN SECOND EMPIRE PARIS

ART HISTORY, Issue 3 2005
Caroline Igra
Faced with a dearth of artistic opportunity at home and the promise of cultural riches elsewhere, Italian artists flocked to Paris in the mid-nineteenth century. Seeking assimilation and acceptance, they adapted a fashionable painting style that was not French in origin but Spanish, and primarily based on the work of Mariano Fortuny. This revival of eighteenth-century rococo genre painting, popular in, and promoted by, the Second Empire, brought these Italian artists financial success and artistic recognition, as individuals and as representatives of a nation. Giovanni Boldini and Giuseppe de Nittis were among the very few Italian artists to enjoy fame and fortune in Paris. Their practice in the French capital demonstrates how artistic choices and careers could be shaped by the demands of the art market and the conditions for success, and the pressures levied by discussions about the significance of national schools of art. [source]

On the Hot Seat: Mike Wallace interviews Marcel Duchamp

ART HISTORY, Issue 1 2000
Naomi Sawelson-Gorse
Marcel Duchamp (1887,1968) attained fame early in his career due to the succès-de-scandale surrounding his painting, Nude Descending the Staircase, No. 2 (1912), when it was exhibited at the 1913 New York Armory Show. Seemingly derisive of all Western aesthetic canons, the work came to embody the general public's outrage and confusion about modern art, which seemed to them merely a shameless hoax, while it achieved an iconic stature for modern art's defenders and supporters. Similar polar sentiments persisted in mid-century. Concurrent with Duchamp's re-emergence as an art celebrity, the then new medium of television broadcast art-based programmes directly targeted at a burgeoning American middle class (mostly white, Eastern, suburbanites), who were themselves fuelling an ever-expanding and high-priced art market. With inflated prices, the nagging question was whether consumers were being bilked by the so-called ,crook-and-swindle' business of art. In Duchamp's television interview with Mike Wallace that aired in New York on 18 January 1961, which is transcribed for the first time in English in this article, the ,crook-and-swindle, business of art, especially about modern art, takes centre stage, as the artist comments on numerous artists and critics, and reflects on his own artistic production, relationship to the art market and celebrity status. [source]

Economic Analysis Of The Droit De Suite, The Artist's Resale Royalty

AUSTRALIAN ECONOMIC PAPERS, Issue 4 2003
J. D. Stanford
Interest in the Droit de Suite, the artist's resale royalty, has been re-kindled by the decision of the European Union to introduce such a scheme to apply from 2006. The general nature of the Droit de Suite as an extension of copyright is discussed. The specific proposals for a Droit de Suite in Australia are analysed. Economic arguments support the sceptical view of the Droit de Suite. It is argued that the introduction of the Droit de Suite would be predicted to reduce sales of new paintings, that selling activity would move to jurisdictions which do not have a Droit de Suite and that artists would prefer to alienate their Droit de Suite by sale of a painting. The economic analysis is supplemented by an empirical study of art auction prices of 72 artists in Australia over the period 1973,1989 which reveals that the works few artists achieve a capital gain on sale in the secondary market re-inforcing the view that, if implemented, a Droit de Suite would provide payments to only a small number of artists who are likely to be in good economic circumstances. The burden of the Droit de Suite is shown to fall on the collector when selling paintings. The effect of the imposition of the Droit de Suite will be to lower the gain to collectors of paintings. It is concluded that the Australian proposal for the Droit de Suite is based on an inadequate analysis of the art market and would require a registration procedure for art works incurring heavy costs in relation to the funds available for distribution. [source]

THE PHANTASM OF AESTHETIC AUTONOMY IN WHISTLER'S WORK: TITLING THE WHITE GIRL

ART HISTORY, Issue 3 2006
AILEEN TSUI
This essay explores how James McNeill Whistler's design and titling of his painting The White Girl (1862) responded to the contradictions between his ideal of aesthetic autonomy and his concern to situate his work in the art markets of London and Paris. Attention to Whistler's ironic deployment of suggestive visual imagery and of titles associated with popular narratives leads to a re-evaluation of how the painting might have signified for viewers in 1862,3. The essay argues that Whistler negotiated conflicts between aesthetic purity and commercial concerns by designing and titling this canvas to function in different ways for what he posited as distinct audiences: an aesthetically sensitive elite and the general publics in London and Paris. The investigation of Whistler's titling tactics and their implications for his art's position within modernism is extended through analysis of new evidence found in previously unnoticed titular inscriptions on wood engravings after his designs. [source]