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Art Prices and Race: Paintings by African American Artists and Their White Contemporaries

Richard Agnello and Xiaowen Xu
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Xiaowen Xu: Department of Economics,University of Dela

No 06-06, Working Papers from University of Delaware, Department of Economics

Abstract: In this paper we compare prices of oil paintings sold at auction from 1972 to 2004 for African American artists and their white contemporaries. It is widely documented by the art community that African American art has been under appreciated in America going back to the time of slavery. Along with the great strides made in the twentieth century towards racial equality in the U.S., African American art has become recognized in the national and international art scene with much focus from galleries, programs and exhibitions. Our interest is to investigate the extent that economic and financial markets have incorporated mainstream acceptance of African American art.

Pages: 40 pages
Date: 2006
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