University of Washington scientist has studied the effect on the auction price of art subject image, branding the artist's popularity and other factors

economist from the University of Washington Arzu Aisin Tekindor (Arzu Aysin Tekindor) conducted a statistical study in which tried to define the criteria that influence the formation of the auction price of art. Analysis of 1103 were sold at Christie's sites and Sotheby's in London, New York and Paris from 1998 to 2011. Tekindor chose 15 iconic artists of XIX - XX centuries, each with a unique style and a set of specific images and themes. For example, Edgar Degas, was selected as the clearest representative of Impressionism, who liked to paint dancers, Salvador Dali - as the great surrealist, whose works often present clock and picture the artist's wife Gala Dali, modernist Gustav Klimt - as a master devotedly themes of love and eroticism, and Marc Chagall , which gave to his unique style - as an artist, often writing and painting of cows, goats, and a wedding . In addition to these authors, reviewed auction results Childe Hessema, Edvard Munch, Henri Matisse, Willem de Kooning, Joan Miró, Francis Picabia, Wassily Kandinsky , Rene Magritte, Mary Cassatt, and of course, Pablo Picasso. The latter tried to work in many styles, but in this study mainly examined Picasso cubist.

Tekindor applied regression analysis - sets the degree of influence of a number of independent variables (the style, the subject image format date, signature, number of owners, etc.) on the dependent variable (auction price). The scientist concluded that consumers are willing to pay more for work done in the typical style of the artist. That is, corporate identity is correlated with the price. But an even greater role in the pricing of play recognizable objects and themes of the author. For example, apples, pipes and clouds - the card of Magritte, and the presence of these objects in the picture to the buyer important than the fact that they are written in a surreal style.

Equally important in the formation of prices is a popular author. As a rule-famous scientist has chosen the University of Washington in Google search by the name of the artist. Tekindor found that growth in Google search by author name only 1 percent on average, results in 38-percent increase in the price of its product.

works in oil on canvas, predictably, were expensive graphics. But the format of the product, according to the Washington-based research, has little effect on its price. Has a value and age of the artist: the older he is, the more of his work (on average 5.2 per cent price increase from year to year). And, of course, no small role played by the so-called indicators of prestige - whether on canvas signed, whether it is published, and which exhibited. Having all of these factors plays a plus.

presence of former owners increase the price by 8.5 per cent, but the number of re-sales by auction, on the contrary, it reduces by about 15 percent with each auction transaction. Work seems too accessible to buyers and jammed, and they therefore are willing to pay for it less and less. And another interesting relationship: the price affected by the fact whether the work was originally donated by the artist to anyone or it was sold. Buyers tend to think that the author did not give away the most successful work, and something good he would prefer a well implemented. Therefore, if the picture was a gift, the price is an average of 29 percent lower. And, of course, can not ignore the influence on the auction prices of periods of general economic instability: during the crisis, prices for works of artists under consideration were adjusted by an average of 34 percent.

With Article Arzu Aisina Tekindora available here .

Prepared Maria Onuchina, AI

Sources : psmag.com , ageconsearch.umn.edu , artinvestment. ru

Editor : The findings claim sensation - no words. It turns out that American researchers in the scientific heat of the moment may not be easy to surpass "the British scientists," but also to present the bread "Armenian Radio».

Some obvious dependence of the art market, clear on the level of common sense , sagely decided to prove the statistics. And as expected, overdone. In short, the kind of humor will appreciate the trained people. For beginners it is better to comment on the art, far away.

works price increases with the age of the artist annually by 5.2 percent? Phenomenal accuracy. Do compare prices for the work of the late Chagall with his children's drawings? But seriously, almost every artist has a particularly valuable time. Often it coincides with the opening of the artist's own style after a long creative exploration. It happens so often to forty years. And start a fruitful period. With age also is that the accumulated expertise can no longer compensate for outgoing energy. Late Chagall often costs less mature. And linear dependence there is clearly accidental, do not work.

But that painting other things being equal worth more graphics, it's hard not to agree. However, the statistics confirm it is still something to prove the superiority of the summer temperature over the autumn.

fame of the author (in the context of the citation and the recognition of its place in the history of art) affect the price of the product? With this, too, can not argue. And who, other than scientists would think of to prove it statistically?

works with a core issue for a profile of the artist are more important than his experiments? This, too, is well known. From Aivazovsky expected to cool the sea, rather than the flat landscape. A figurative Mondrian will be symbolic of money compared with the abstract.

presence of former owners and participate in exhibitions of work, according to calculations of the American researcher, contribute to increase in the price of work. Also true. The history of the existence (or provenance) - one of the most important factors affecting its market fortunes. "The newly acquired" masterpieces and expensive work without a convincing provenance look suspicious, which can not affect the interest of buyers.

And here's the thing with every resale loses 15 percent of its price - is perhaps the most stunning conclusion of the proposed study. Just a scientific sensation and exposing century. Probably just need to be patient and wait for a series of re-sale, and then there is the composition of Kandinsky take his hat crackers. We can only guess which one should distort the phenomenon faced by research to arrive at such paradoxical conclusions. Generally, owners even for investment purposes usually kept at work for several years. Do not re-sell at least 3-4 years. This is the time you need to thing, bought with an overpayment (which is fine) time to "digest" the previous mark and "work up" a new one. If work flickers at the auction, it may be a symptom of the fact that it is not all right: problems with provenance, the questionable authenticity or something like that.

and Finally, the last scientific sensation - a conclusion that the artist prefers to give inferior things, and good - sell. Therefore, "received as a gift horse" is usually worse incre. My strength is no comment on this. Arzu Aisin Tekindor on both your houses!

Overall, most of the findings of this publication may resemble the statistical evidence of a relationship between the rate of shaman tambourine and Clear. However, even on such a study, if desired, can be proc. So, if "howcast" from the banking sector will require scientific substantiation of the forecast at the estimated object, the consultant can fill a serious look at themselves and to refer to the findings of an American scientist.

Vladimir Bogdanov , AI