Collectors’ motivations on the international art market

Elisabetta Lazzaro, Nathalie Moureau and Marion Vidal

ULB Institutional Repository from ULB -- Universite Libre de Bruxelles

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.

Keywords: Art market; Consumer behaviour and experience; Textual analysis (search for similar items in EconPapers)
JEL-codes: D12 Z11 (search for similar items in EconPapers)
Date: 2014
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Forthcoming
Published in: Catedra Corona (2014) n° 23,p.20

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Persistent link: https://EconPapers.repec.org/RePEc:ulb:ulbeco:2013/149118

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