Sustainable development of art industry and a statistical analysis of the factors that influence the gallery prices of contemporary artworks

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dc.contributor.authorTuran, Fikret Korhan
dc.contributor.authorTosun, Zeynep
dc.date.accessioned2023-01-15T08:36:59Z
dc.date.available2023-01-15T08:36:59Z
dc.date.issued2022en_US
dc.departmentFakülteler, Mühendislik ve Doğa Bilimleri Fakültesi, Endüstri Mühendisliği Bölümüen_US
dc.description.abstractAlthough art industry has developed significantly, the factors influencing artwork prices and their specific effects are not fully known. With this research, to guide curators, gallery owners, collectors and art investors, as well as artists, first the factors that may influence artwork prices are determined. Then, using a data set from a contemporary art gallery in Istanbul, which of these factors are significant and in which ways they alter the prices are investigated. While previous studies are typically based on auction prices, promoting the economic sustainability of artists, this study employs gallery prices, and different from the existing efforts, it examines the joint impact of the artwork specific factors such as production technique and the number of editions, together with the artist specific factors including gender, education level and the field of study. Statistical findings suggest that there is no significant difference between the prices of artworks created by the artists who have a formal education in fine arts and those who do not. However, it is found that artists, particularly the female ones, can increase the prices of their artworks by having a graduate level education. Also, it is observed that increasing the number of editions negatively affects artwork prices, and the artworks created in print techniques have significantly lower prices than the artworks produced in other techniques. Though, it is detected that print artworks are less affected from the price reductions induced by the increase in the number of editions, compared to the artworks produced in other techniques.en_US
dc.identifier.citationTuran, F. K., & Tosun, Z. (2022). Sustainable development of art industry and a statistical analysis of the factors that influence the gallery prices of contemporary artworks. Sustainable Development.en_US
dc.identifier.issn0968-0802
dc.identifier.issn1099-1719
dc.identifier.scopus2-s2.0-85145326798
dc.identifier.scopusqualityQ1
dc.identifier.urihttps://hdl.handle.net/20.500.12939/3188
dc.identifier.wosWOS:000905033300001
dc.identifier.wosqualityQ1
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.institutionauthorTuran, Fikret Korhan
dc.institutionauthorTosun, Zeynep
dc.language.isoen
dc.publisherJohn Wiley and Sons Ltden_US
dc.relation.ispartofSustainable Development
dc.relation.isversionof10.1002/sd.2484en_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectArt Economicsen_US
dc.subjectArt Stakeholdersen_US
dc.subjectContemporary Art Pricesen_US
dc.subjectCreative Industriesen_US
dc.subjectCultural Developmenten_US
dc.subjectCultural Sustainabilityen_US
dc.subjectSustainable Artistsen_US
dc.subjectSustainable Cultural Tourismen_US
dc.titleSustainable development of art industry and a statistical analysis of the factors that influence the gallery prices of contemporary artworks
dc.typeArticle

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