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Contextual Art And Hedonic Price Indexes: To Be Or Not To Be Marketable?

Contextual Art And Hedonic Price Indexes: To Be Or Not To Be Marketable?. Belén MAZUECOS Faculty of Arts. University of Granada Marilena VECCO ICARE – International Center for Art Economics University of Ca’ Foscari – Venice. 1. The Context.

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Contextual Art And Hedonic Price Indexes: To Be Or Not To Be Marketable?

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  1. Contextual Art And Hedonic Price Indexes: To Be Or Not To Be Marketable? Belén MAZUECOS Faculty of Arts. University of Granada Marilena VECCO ICARE – International Center for Art Economics University of Ca’ Foscari – Venice

  2. 1. The Context • “Art pour l’art” approach or a market oriented approach? • Art is a profit exchange which generates wealth and employment 4th sector: Industry of subjectiveness • The market of contemporary art is involved in the distribution but also in the production: it influences the artists the market Devaluation of the aesthetic interest

  3. Some features of the CAM • High specialisation and diversification of gatekeepers • Internationalisation of markets • Different dynamics of support (public and private) • Multiplication of art exhibition spaces (traditional and new one) • Growth of the number of artists • Relevance of the role of the critics • Speed of the exchange and movements • Dematerialisation process of the work of art

  4. art economics CULTURAL CAPITALISM Collision of the economic sphere and the symbolic production artistic context artistic field Crisis of the legitimization of art Contextual Art

  5. Paradox, more transgressive the artists act, more involvement and interest of the gatekeepers the market neutralises the critic The specific art locus is the place of the conflict and the opposition Trick game “Everything having the calculated negation of itself prepares the compromise and then its integrated absorption”. Jose Luis Brea (2004). The art space becomes the context of the accusation and plaint but not the space of the transformation

  6. Definition of CA “Who critizes through his/her work (performance, installation or art objects) the art market and the institutions in order to subverse the structures of power, the distribution and the exhibition mechanisms” RIEMSCHNEIDER, B. e GROSENICK, U. (edited by) (2002), Art Now. 137 artistas al comienzo del S.XXI. Köln,Taschen, p. 560.

  7. Different movements CA is a movement but also the “no movement” • BROODTHAERS, Marcel (Bruselas, Belgica, 1924-1975) (Arte Concettuale) • CALLE, Sophie (Paris, Francia, 1954-) (Anni’80 Europa) • CATTELAN, Maurizio (Padua, Italia, 1960-) (Anni’90 Europa) • DUCHAMP, Marcel(Blainville-Crevon, Bélgica, 1887- Neuilly-sur-Seine, 1968) (Dada) • FLEURY, Silvie (Suiza, 1962-) (Arte Concettuale) • GERRILLA GIRLS (Nueva York, U.S.A.) (Anni’80 America) • GILBERT Y GEORGE (San Martino, Dolomites, Italia, 1942-; Devon, U.K, 1943-) (Arte Concettuale) • HAACKE, Hans (Colonia, Alemania, 1936-) (Arte Concettuale) • HADJIMICHALIS, George (Atenas, Grecia, 1954-) (Anni’90 Europa) • KOONS, Jeff (York, Pennsylvania, U.S.A.,1955-) (Neo Geometric Conceptualism) • KRUGER, Barbara (Newark, 1945-) (Arte Concettuale) • LAURETTE, Matthieu (Villeneuve St. George, Francia, 1970-) (Anni’90 Europa) • MANZONI, Piero (Soncino,Cremona, Italia, 1934; Milàn, Italia, 1963) (Nouveau Realismo) • MEIRELES, Cildo (Rio de Janeiro, Brasil, 1948-) (Arte Concettuale) • MUNTADAS, Antoni (Barcelona, Espana, 1942-) (Anni’90 Europa) • ORLAN (Porte Mireille Orlan) (Saint-Etienne, Francia, 1947-) (Arte Concettuale) • PARDO, Jorge (La Habana, Cuba, 1963-) (Anni’90 Sudamerica) • PEREJAUME (Sant Pol de Mar, Barcelona, España, 1957-) (Arte Concettuale) • SEHGAL, Tino (Londres, U.K., 1976-) (Arte Concettuale) • SIERRA, Santiago (Madrid, España. 1966-) (Arte Concettuale) • WARHOL, Andy (Philadelphia, U.S.A, 1930- New York, 1987) (Pop Art. U.S.A.) • ………………………………………………………………………………………….

  8. 2. Aim of the research • To verify if CA has a market • and how its performances are 3. Methodology • Analysing of the CA • the CA artists works of art and their strategies

  9. 4. CA: Case studies by themes

  10. Main critics • Art as merchandise • Mechanisms of circulation and distribution • Cultural and artistic institutions • Selection mechanisms • Elitism in the art world • Authority’s concept • Authenticity’s concept

  11. 1. The concept of merchandise - More and more the artist is near to the worker, taking part to the socio-economic structure of his time [BENJAMIN, W (1934) / BREA, J.L. (2004)] Art as a product = concretisation of our socio-economic structure - The artistic production can be compared with other remunerated work Marx’ assumption concerning and Frankfurt School Merchandise is the result of the alienating social relationship, deriving from work

  12. SANTIAGO SIERRA (Madrid, 1966)Strategy: “Remunerated Aesthetics”. GUASH, A.M. (2003) 360 Hours of job remunerated. 2003.

  13. Tattooing of 160 cm over 4 persons. 2000.10 cubans remuneraed to masturbate. 2001. Payment of 67 euro for dyeing the hair. 2001.

  14. -The market economy, including the artistic exchange, transforms the work of art in a “commodification”, it becomes an alienated merchandise HAUSER, A. (1975) HANS HAACKE(Colonia, 1936) Proyekt’74. 1974. Handful of asparaguses.(Manet. 1880).

  15. Overshadow of the artistic value by the exchange value The artistic value is defined on the base of the economic one the artistic product is legitimated as work of art because of the gatekeepers interests PIERO MANZONI(Soncino, Cremona, 1933- Milan, 1963) Artist’s excrement. 1961.

  16. ¿Which are the main factors to define the value of a work? Demand and supply Different approaches: Poli, F. (1976) “honorific coefficient” (importance of the signature) “coefficient of sublimation” (degree of intrinsic artistic of the work)

  17. The Value of Art • The Total Value of a work of art is the sum of: a) use value economic value b) artistic value cultural value c) commercial value economic value Grampp (1991): theory of marginal utility to explain the art value (use value and artistic benefit) Ramos (1996): use value = economic earning the concept of marginal utility can not be applied to the work of art, because the utility is subjective

  18. ECONOMIC VALUE OF A WORK OF ART Vm = f (Na, A, R, Sc, D, E, S, Te, Q) Fame of the artist Authenticity Scarcity (absolute, relative) State of conservation Dimensions Époque Subject Techniques of execution Quality: - technical (objective) - consumption (subjective)

  19. CILDO MEIRELES (Río de Janeiro, 1948)Strategy: subversion of the Duchamp’s ready-madeBAKER, G. (2003) • Inconsistency/Gap between the value and the price Check Tzanck. 1919. MARCEL DUCHAMP (Blainville-Crevon, 1887- Neuilly-sur-Seine, 1968) Money tree. 1969 Zero Cruzeiro/Zero Dollar/Zero Cent. (1974-1984)

  20. Disappearing Element / Disappeard Element (Imminet Past). 2002.

  21. The complexity of the structure supporting the CA leads to consider the artist as a product ¿Is the artist the true merchandise?

  22. ORLAN (Saint-Etienne, 1947-) Scenes from the operating room during Orlan’s 7th plastic surgical operation entitled New York Omnipresence. November 21, 1993, procedure involved sewing implants into Orlan’s temples to create two lumps, and placement of an implant into her chin through the lifting of flesh and insertion of muscle tissue.

  23. FERNANDO ARIAS (Armenia-Quindío, 1963-) Who offers more. 2004.

  24. TINO SEHGAL (London, 1976-) Germany Pavillon, Giardini, Venice, Biennial, 2005 This is exchange (2004-05) As part of Tino Seghal’s action: giving back themoney

  25. 2. The reflection on the circulation mechanism and diffusion of art MAURIZIO CATTELAN (Padova, 1960) Critic of the authority principle Emmanuel Perrotin in Ma Galerie, Paris, 1994. A perfect day. 1999.

  26. ANTONI MUNTADAS (Barcelona, 1942-) The file room. 1994.

  27. SANTIAGO SIERRA(Madrid, 1966)Lisson Galery. 2002. • Critic of the art gallery

  28. 3. Critics to the cultural and exhibition institutions MARCEL BROODTHAERS (Bruxelles, 1924 – Colonia, 1976)Strategy: Fiction method Museé d’Art Moderne- Département des Aigles. 1968-1972.

  29. ELMGREEN & DRAGSET [Michael Elmgreen (Copenague, 1961-) & Ingar Dragset (Trodheim, 1969-)] Powerless Structures

  30. GEORGE HADJIMICHALIS (Athens, 1954-) Greece national Pavillon, Giardini, Venice Biennial 2005 Critic to the art institutions

  31. JEAN-DANIEL BERCLAZ (Néuchatel Suisse, 1955-) Musée du point de vue (2000-2001)

  32. CORNELIA SOLLFRANK(Feilershammer, 1960-) Strategy:“Hacktivismo” 4. Critics to the selection mechanism of art Female Extension. 1997.

  33. CasTINg(Venice, 2004-) All the participants near the winner

  34. JOTA CASTRO (Lima, 1965-) 5. Critics to the elitarism of the art world Discrimination day (2005). Palais de Tokio, Paris

  35. GUERRILLA GIRLS (New York, 1985-)

  36. PIERO MANZONI (Soncino, 1933; Milan, 1963) 6. Critics to the authorship Magic base. 1960 Egg with digital print. 1960 Breath of artist.1960

  37. 7. Critics to the notion of authenticity IMAGEN PIRATA (Bogotá, 1999-2005) Thing found is not stolen, 2002

  38. COLECTIVO 0100101110101101.org (1995) bienale.py Biennial of Venice. 2001. 8. Critics to collection activity

  39. BARBARA BLOOM (Los Angeles, 1951-) The culture of narcissim (1988-89).

  40. Mark Dion (New Bedforden,1961-) Collectors/ Collected, Expedition to the Pacific(1862-1866) (1994).

  41. 5. Trends of the Contextual Artists Hedonic Price Indexes

  42. Sample Database of 165 contextual artists 73 artists in the database of Artindex Plus selection 52 artists 5005 sales

  43. Contextual Art And Hedonic Price Indexes (1990-2007) CA Pre-War Current (before 1945) Post-War Current (1945-1970) Current of Actual Art (since 70s) Movements:Dadaism, Surrealism, Pop Art, Body Art, Conceptual Art, Land Art, Internazionale Situazionista, Fluxus, Neo-Geo, Europe 80’s , EE.UU. 80’s ., Young British Artists, Europe 90’s, EE. UU. 90’s, and Europe 00.

  44. Model of hedonic regression log(Price) ~ broad + large + surface + genre+ technique + material + auction house + date of hammer + artist

  45. Results of the CA Tendency Index price considering all the selected works (without printings)

  46. Currents CA Pre-War. All the works (without printings)

  47. Post-War. All the works (without printings)

  48. Actual Art. All the works (without printings)

  49. Market segmentation Selling places of CA

  50. 0% 1% 0% 0% 0% 0% 2% 3% 3% 4% 0% 32% 34% 2% 1% 6% 6% 0% 0% 3% 0% 0% 1% 1% ARTCURIAL BRIEST BONHAMS BONHAMS & BUTTERFIELDS BRUUN RASMUSSEN BUKOWSKIS CAMELS COHEN CHRISTIE'S DOROTHEUM DOYLE FINARTE FINARTE-SEMENZATO GLERUM ACTIONEERS GRISEBACH KOLLER LEMPERTZ NEUMEISTER PHILLIPS PIASA SOTHEBY'S SWANN TAJAN PORRO & C FARSETTI ARTE PANDOLFINI Art Auctions Houses of CA

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