Prize &amp; price: The Turner Prize as a valuation device in the contemporary art market

Pénet, Pierre; Lee, Kangsan

doi:10.1016/j.poetic.2014.01.003

Cited by 30 publications

(17 citation statements)

References 32 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Obviously, while literature awards have a beneficial effect at least on sales of hard covers (Schmidt-Stölting et al, 2011), this relationship is not sufficiently strong to reflect the taste of the general audience. These findings parallel those from cinematic creativity Simonton, 2005Simonton, , 2009a, but contrast with results from highbrow art (Pénet & Lee, 2014).…”

Section: Discussionsupporting

confidence: 61%

Measuring the Aesthetic Success of Books: Can User-driven Databases Fill the Gap?

Form

2017

Creativity. Theories – Research - Applications

View full text Add to dashboard Cite

Researchers that wish to evaluate the aesthetic success or functional creativity of books in the real world need a method to measure the outcome variable. However, sales figures are rarely published. Bestseller lists and expert judgments may not adequately reflect the aesthetic success among the general public. Data available on the platform Goodreads may serve as an alternative for measuring the popularity of books. In the present study, the ratings and number of ratings from Goodreads, as well as the number of literary prizes awarded are compared with the actual number of copies sold for a significant sample, the 98 most bestselling books in the UK from 1998 to 2012. Results indicated that literary prizes cannot serve as a gauge for the popularity of a book. While ratings were associated with copies sold, the number of ratings was a significantly better indicator of the sales figures of a book.

show abstract

Section: Discussionsupporting

confidence: 61%

Measuring the Aesthetic Success of Books: Can User-driven Databases Fill the Gap?

Form

2017

Creativity. Theories – Research - Applications

View full text Add to dashboard Cite

show abstract

“…27 Well-known examples include assigning core research funding to universities in the United Kingdom (and, increasingly, elsewhere), 28 and the evaluation of federal government programmes in the United States. 29 The economic impact of prizes for contemporary art 30 and the grading of restaurants 31 has been observed.…”

Section: Reputation Ranking and Rating A Short Historymentioning

confidence: 99%

The Chinese Social Credit System: A Model for Other Countries?

Síthigh

Siems

2019

Modern Law Review

View full text Add to dashboard Cite

Many countries know financial consumer credit ratings, and recent years have also seen a proliferation of rating systems in relation to online platforms and in the ‘sharing economy’, such as eBay, Uber and Airbnb. In the view of many Western observers, however, the emerging Chinese Social Credit System indicates a paradigm shift compared to these former rating systems as it aims for a comprehensive and uniform social rating based on penalty and award mechanisms. By contrast, this article suggests that the evolving forms of the Chinese system should be seen as a specific instance of a wider phenomenon. Thus, it develops a framework that compares different rating systems by reference to their drafters, users, aims, scoring systems, application, use of algorithms, enforcement and accountability; it identifies shortcomings of both low and high interventionist rating systems; and it discusses a range of regulatory approaches and emerging issues that law makers should consider.

show abstract

“…Reflecting his status in the contemporary art market, his work is sold at premium prices at auction houses. Before the age of 40, in 2005, Hirst had acquired more than $1 million and sold approximately $270 million worth of work at Christie's in 2008 (Penet & Lee, 2014).…”

Section: Case Descriptionmentioning

confidence: 99%

Semiotic Approach on Artist’s Brand Communication: The Case of Damien Hirst

Lee¹,

Park²

2019

Bus. Commun. Res. Pract.

View full text Add to dashboard Cite

Objectives: This paper aims to argue how the structure of brand communication by artists creates value in the art market. Artists have already made brands of themselves through self-promotion, networking with stakeholders in the art world, and other activities, and the effects of the artist's brand communication vary depending on the process used. Methods: We select Damien Hirst as a single case, and secondary data from various sources are collected. We analyze the gathered data in order to understand the brand of Hirst in terms of general branding theory and art institution theory. Results: The semantic approach starts with the assumption that Hirst's brand consists of what Saussure calls a 'significant' and a 'signifié. ' The significant involves the ostensible brand revealed in the bizarre and shocking, self-promotion, anti-institutional norms, blasphemy of art, etc., but the hidden symbol, signifié, was created by the existence of Charles Saatchi, a renowned collector, and it involves the symbolic power of YBA and the logic of the art market. Conclusions: The analysis of Hirst's brand, however, shows a paradoxical result. Although his powerful brand was constructed by subverting and challenging the institutional system of art, the system embraces his works, which is shown in the high economic value it brings in the art market. Thus, a differentiation strategy is possible in internal contradictions.

show abstract

Prize & price: The Turner Prize as a valuation device in the contemporary art market

Cited by 30 publications

References 32 publications

Measuring the Aesthetic Success of Books: Can User-driven Databases Fill the Gap?

Measuring the Aesthetic Success of Books: Can User-driven Databases Fill the Gap?

The Chinese Social Credit System: A Model for Other Countries?

Semiotic Approach on Artist’s Brand Communication: The Case of Damien Hirst

Contact Info

Product

Resources

About