Is Gender in the Eye of the Beholder? Identifying Cultural Attitudes with Art Auction Prices

Penasse, Julien; ́ee, Adams Ren; Roman, Kr ̈aussl; Navone, Marco; Verwijmeren, Patrick

doi:10.2139/ssrn.3083500

Cited by 23 publications

(10 citation statements)

References 21 publications

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“…This is equivalent to an average price difference of 16.8% which is smaller than the unconditional discount of 47.6% documented byAdams et al (2017). Consistent with this study, we also find a negative price difference (−8.3%) for female artists when we only consider contemporary artists or artworks selling for more than 1 million (−17.9%).…”

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confidence: 86%

“…Consistent with this study, we also find a negative price difference (−8.3%) for female artists when we only consider contemporary artists or artworks selling for more than 1 million (−17.9%). It is likely that differences in sample compositions of our studies drive differences in results Adams et al (2017). use a sample of 1.5 million global auction transactions between 1970 and 2013 (62,442 artists).…”

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confidence: 99%

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An empirical analysis of price differences for male and female artists in the global art market

Bocart¹,

Gertsberg

Pownall

2021

J Cult Econ

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We study prices paid at auction for artworks created by male and female artists, based on birth-identified sex, and how these prices have evolved over time. Artworks produced by female artists comprise less than 4% of art auction sales; after controlling for artwork characteristics, we find that artworks by female artists are 4.4% more expensive than artworks by male artists. In the top echelon of the art market—for sales above $1 million—artworks by male artists sell for 18.4% more than by female artists. The top 40 artists represent 40% of total market share; no female artist makes the top 40 ranking of artists in terms of total sales value at auction in the period under study, 2000–2017. However, for contemporary artists, our empirical results show that works by male artists sell for 8.3% more than their female counterparts. Overall, this study highlights significant price differences across birth-identified sex in the secondary market for fine art.

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confidence: 86%

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confidence: 99%

An empirical analysis of price differences for male and female artists in the global art market

Bocart¹,

Gertsberg

Pownall

2021

J Cult Econ

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“…Considering the current art world and current artists, it can be found research on gender differences in perception of, e.g., graffiti works and their creators (Chinangure & Mapaire, 2019) or punk musicians (Garrigós, 2017). The more general approach to artist's identity through gender lens reveals conclusions about differences in career-decision making and self-management by artists (Bennett & Hennekam, 2018;Hennekam & Bennett, 2016), differences in perception of paintings as the way of consideration of the effective communication (Abodunrin, 2017), differences in identification of the cultural attitudes by art beholders in the auction context (Adams et al, 2017), inequality in artistic careers based on gender and artist archetypes (Miller, 2016), differences in music perception (Shakespeare et al, 2020;Szostak, 2020b).…”

Section: Entrepreneurship and Sustainability Issuesmentioning

confidence: 99%

Impact of gender differences in perception of creative identities of artist, creator, manager, entrepreneur and leader on sustainability

Szostak¹

2021

JESI

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Because personal identity is a crucial component forming an individual, the perception of identity is a key feature in identity work. As a crucial component of the constant development of an individual, identity work influences the sustainability of groups and societies. Due to gender differences in many areas, the research on the impact of gender factors on the perception of creative individuals (like an artist, creator, entrepreneur, leader, and manager) may bring significant conclusions. Although gender factor is widely present in the literature, there is a gap about the impact of gender on the perception of creative individuals. A quantitative examination among the international society representatives (n = 160) was undertaken to fill this gap. The research displays that male and female perspectives of the perception of the creative identities are statistically similar. The hypotheses were confirmed using the chi-square test of independence (p < 0.001). The additional qualitative analysis reveals that females, in comparison to males, see the particular factors constituting each studied identity slightly more transparent and as more important: the artist's identity by 1.73%, the creator's identity by 0.98%, the entrepreneur's identity by 2.23%, the leader's identity by 2.11%, and the manager's identity by 1.15%. The research results may be used to understand the gender differences of creative identities' perception by male-or female-dominated groups, organizations, and societies. The consequences of the differences for management and entrepreneurship may be seen as minor from the general perspective. However, they may be essential in the efficiency of the cooperation: 1) There is no evidence that any gender should be limited or preferred about working with creative individuals; 2) There is a slight difference indicating female predispositions in the perception of creative identities; 3) Particular features of creative individuals are underrated or overrated by males and females and can determine particular decisions. The research conclusions should be seen as a novelty compared to results describing essential differences in many areas of human activities regarding gender.

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“…As the correlations between paintings on the on the one hand and stocks and bonds on the other are negative, we study whether investments in paintings contribute to optimal portfolio allocation. The academic finance literature has focused on the art performance (Mei and Moses, 2002;Renneboog and Spaenjers, 2013;Korteweg, Kräussl, and Verwijmeren, 2016;Lovo and Spaenjers, 2018), its financial and macro-economic market drivers such as equity market evolution and income inequality (Goetzmann, Renneboog, and Spaenjers, 2011), sentiment and hypes (Pénasse, Renneboog, and Spaenjers, 2014), gender biases (Adams, Kräussl, Navone, and Verwijmeren, 2017;Bocart, Gertsberg, and Pownall, 2017;Cameron, Goetzmann, and Nozari, 2019), the impact of color (Ma, Noussair and Renneboog, 2021), behavioral anomalies such as anchoring (Beggs and Graddy, 2009;Graddy et al, 2015), art market bubbles (Pénasse and Renneboog, 2021), and artists' death as a supply shock (Pénasse, Renneboog, and Scheinkman, 2021).…”

Section: Introductionmentioning

confidence: 99%

Pricing art and the art of pricing: On returns and risk in art auction markets

Renneboog

2022

Euro Fin Management

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We study price determinants and investment performance of art based on a vast sample of transactions around the world over the past 60 years. Art has appreciated at a real (nominal) annual return of 2.49% (6.24%). Higher art returns are reached for paintings at high-end of the price distribution, for oil paintings, for more recent art movements, for transactions by reputable auction houses. The risk-return tradeoff of paintings underperforms that of other passion investments. Paintings' Sharpe ratios are below those of stocks, bonds, and gold but outperform commodities and real estate. Investments in paintings also enter the optimal investment portfolio.

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Is Gender in the Eye of the Beholder? Identifying Cultural Attitudes with Art Auction Prices

Cited by 23 publications

References 21 publications

An empirical analysis of price differences for male and female artists in the global art market

An empirical analysis of price differences for male and female artists in the global art market

Impact of gender differences in perception of creative identities of artist, creator, manager, entrepreneur and leader on sustainability

Pricing art and the art of pricing: On returns and risk in art auction markets

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