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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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Faculty of Arts. University of Granada
ICARE – International Center for Art Economics
University of Ca’ Foscari – Venice
Devaluation of the aesthetic interest
Crisis of the legitimization of art
The specific art locus is the place
of the conflict and the opposition
“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
“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.
CA is a movement but also the “no movement”
- 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
360 Hours of job remunerated. 2003.
Payment of 67 euro for dyeing the hair. 2001.
-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)
Handful of asparaguses.(Manet. 1880).
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.
Demand and supply
Poli, F. (1976)
“honorific coefficient” (importance of the signature)
“coefficient of sublimation” (degree of intrinsic artistic of the work)
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
Vm = f (Na, A, R, Sc, D, E, S, Te, Q)
Fame of the artist
Scarcity (absolute, relative)
State of conservation
Techniques of execution
- technical (objective)
- consumption (subjective)
Check Tzanck. 1919.
MARCEL DUCHAMP (Blainville-Crevon, 1887- Neuilly-sur-Seine, 1968)
Money tree. 1969
Zero Cruzeiro/Zero Dollar/Zero Cent. (1974-1984)
¿Is the artist the true merchandise?
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.
Who offers more. 2004.
Germany Pavillon, Giardini, Venice,
This is exchange (2004-05)
As part of Tino Seghal’s action: giving back themoney
Critic of the authority principle
Emmanuel Perrotin in Ma Galerie, Paris, 1994.
A perfect day. 1999.
The file room. 1994.
Museé d’Art Moderne- Département des Aigles. 1968-1972.
Greece national Pavillon,
Biennial 2005 Critic to the art institutions
Musée du point de vue (2000-2001)
4. Critics to the selection mechanism of art
Female Extension. 1997.
All the participants near the winner
5. Critics to the elitarism of the art world
Discrimination day (2005). Palais de Tokio, Paris
6. Critics to the authorship
Magic base. 1960
Egg with digital print. 1960
Breath of artist.1960
IMAGEN PIRATA (Bogotá, 1999-2005)
Thing found is not stolen, 2002
Biennial of Venice. 2001.
8. Critics to collection activity
The culture of narcissim (1988-89).
Collectors/ Collected, Expedition to the Pacific(1862-1866) (1994).
Hedonic Price Indexes
Database of 165 contextual artists
73 artists in the database of Artindex Plus selection
52 artists 5005 sales
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.
log(Price) ~ broad + large + surface + genre+ technique + material + auction house + date of hammer + artist
Index price considering all the selected works (without printings)
Pre-War. All the works (without printings)
Selling places of CA
BONHAMS & BUTTERFIELDS
PORRO & C
Art Auctions Houses of CA
this art is absorbed by it
The market produces alienation but at the same time it mediates the relationships in the artistic context
The analysis by genre and support confirms that more than the half of works are belonging to the category of graphics (48%). Other main genres are: drawing (22%), installation (12%), painting (10%) and photography (8%).