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Collectors’ motivations on the international art market

Author

Listed:
  • Elisabetta Lazzaro
  • Nathalie Moureau
  • Marion Vidal

Abstract

While cultural consumption has been the object of several studies in economics, the behavior of art collectors has seldom been investigated. This paper aims to fill this gap by empirically profiling art collectors in terms of their motivations and the experiences that affect their purchase choices. After discussing the theoretical framework of consumption theory and its evolution applied to art collectors, we apply textual analysis to 131 interviews of international collectors published in the French business magazine Echos. Our main findings allow us to distinguish three main groups of collectors (two of contemporary art, and one of Old Masters), each of which is characterized by distinctive features in terms of motivations and experiences. In particular, we identify three kinds of relational experience, based respectively on shared experience, personalised relation and participation.

Suggested Citation

  • Elisabetta Lazzaro & Nathalie Moureau & Marion Vidal, 2014. "Collectors’ motivations on the international art market," ULB Institutional Repository 2013/149118, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:ulb:ulbeco:2013/149118
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    More about this item

    Keywords

    Art market; Consumer behaviour and experience; Textual analysis;
    All these keywords.

    JEL classification:

    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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