Art Prices and Race: Paintings by African American Artists and Their White Contemporaries
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.
|Date of creation:||2006|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (302) 831-2565
Fax: (302) 831-6968
Web page: http://www.lerner.udel.edu/departments/economics/department-economics/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Renato Flôres & Victor Ginsburgh & Philippe Jeanfils, 1999.
"Long- and Short-Term Portfolio Choices of Paintings,"
Journal of Cultural Economics,
Springer, vol. 23(3), pages 191-208, August.
- Renato G. Flôres Jr. & Victor Ginsburgh & Philippe Jeanfils, 1999. "Long- and short-term portfolio choices of paintings," ULB Institutional Repository 2013/99275, ULB -- Universite Libre de Bruxelles.
- Benjamin J. Burton & Joyce P. Jacobsen, 1999. "Measuring Returns on Investments in Collectibles," Journal of Economic Perspectives, American Economic Association, vol. 13(4), pages 193-212, Fall.
- Richard Agnello & Renée Pierce, 1996. "Financial returns, price determinants, and genre effects in American art investment," Journal of Cultural Economics, Springer, vol. 20(4), pages 359-383, December.
- Chanel, O. & Gã‰Rard-Varet, L.-A. & Ginsburgh, V., .
"The relevance of hedonic price indices,"
CORE Discussion Papers RP
1222, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Kathryn Graddy & Orley Ashenfelter, 2002.
"Auctions and the Price of Art,"
Economics Series Working Papers
131, University of Oxford, Department of Economics.
- Sebastian Edwards, 2004. "The Economics of Latin American Art: Creativity Patterns and Rates of Return," ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION.
- Olivier Chanel & Louis-André Gérard-Varlet & Victor Ginsburgh, 1996.
"The relevance of hedonic price indices: the case of paintings,"
ULB Institutional Repository
2013/1715, ULB -- Universite Libre de Bruxelles.
- Chanel, O. & Gerard, L.A. & Ginsburgh, V., 1992. "The Relevence of Hedonic Price Indices the Case of Paintings," G.R.E.Q.A.M. 92a19, Universite Aix-Marseille III.
- Jianping Mei & Michael Moses, 2002. "Art as an Investment and the Underperformance of Masterpieces," American Economic Review, American Economic Association, vol. 92(5), pages 1656-1668, December.
- Anderson, Robert C, 1974. "Paintings as an Investment," Economic Inquiry, Western Economic Association International, vol. 12(1), pages 13-26, March.
- Richard J. Agnello, 2002. "Investment Returns and Risk for Art: Evidence from Auctions of American Paintings," Eastern Economic Journal, Eastern Economic Association, vol. 28(4), pages 443-463, Fall.
- Douglas Hodgson & Keith Vorkink, 2004. "Asset pricing theory and the valuation of Canadian paintings," Canadian Journal of Economics, Canadian Economics Association, vol. 37(3), pages 629-655, August.
- Baumol, William J, 1986. "Unnatural Value: Or Art Investment as Floating Crap Game," American Economic Review, American Economic Association, vol. 76(2), pages 10-14, May.
- Richard J. Agnello, 2006. "Do U.S. Paintings Follow the CAPM? Findings Disaggregated by Subject, Artist, and Value of the Work," Working Papers 06-02, University of Delaware, Department of Economics.
- Sebastian Edwards, 2004. "The Economics of Latin American Art: Creativity Patterns and Rates of Return," NBER Working Papers 10302, National Bureau of Economic Research, Inc.
When requesting a correction, please mention this item's handle: RePEc:dlw:wpaper:06-06. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Saul Hoffman)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.