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Customer Behavior in the Art Market
Mičková, Markéta ; Milichovský, František (referee) ; Mráček, Pavel (advisor)
The thesis deals with the motivation of subjects of demand to purchase works of art. The first part of the thesis deals with the theoretical starting points of consumer behaviour as well as the environment of the art market. The second half of the thesis deals with the analysis of the results from the questionnaire survey, through which I define individual customer segments. At the end of the thesis, I make recommendations based on the results from the analysis. The aim of the bachelor s thesis „Consumer behaviour in the field of art“ is to characterize customers/consumers in the art market and recommend how best to communicate with them and reach them, based on the analysis of demand to purchase works of art.
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Wilhelm von Bode and the International Art Market: the Unpublished Correspondence with Rudolphe Kann and Joseph Duveen
Watrelot, Michaela ; Zlatohlávek, Martin (advisor) ; Winter, Petra (referee) ; Vlnas, Vít (referee)
Wilhelm von Bode and the International Art Market: the Unpublished Correspondence with Rudolphe Kann and Joseph Duveen This dissertation explores changing trends in the European and American art market in the late 19th and beginning of the 20th Centuries, in particular their influences, presented from the perspective of Wilhelm von Bode, renowned connoisseur and, at the time, director general of the Berlin Museums and explored predominantly through his relationship with the private collector Rudolphe Kann and art dealer Joseph Duveen. At the time, the collection of Rudolphe Kann was considered to be one of the most refined among the European private collections, yet it hasn't received much attention by contemporary scholars. This dissertation therefore offers the most systematic review of Kann's collection since 1907, the year when Bode compiled the revised catalogue. Wilhelm Bode was actively involved in building the Kann collection, as shown by the extensive numbers of private, previously unpublished, correspondence, which provided the foundation of this research. After the dealer Joseph Duveen bought the entire art collection of this prominent Parisian collector in the summer 1907 and subsequently sold almost all of the artworks to American collectors, the competitiveness of European private...
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Customer Behavior in the Art Market
Mičková, Markéta ; Milichovský, František (referee) ; Mráček, Pavel (advisor)
The thesis deals with the motivation of subjects of demand to purchase works of art. The first part of the thesis deals with the theoretical starting points of consumer behaviour as well as the environment of the art market. The second half of the thesis deals with the analysis of the results from the questionnaire survey, through which I define individual customer segments. At the end of the thesis, I make recommendations based on the results from the analysis. The aim of the bachelor s thesis „Consumer behaviour in the field of art“ is to characterize customers/consumers in the art market and recommend how best to communicate with them and reach them, based on the analysis of demand to purchase works of art.
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Wilhelm von Bode and the International Art Market: the Unpublished Correspondence with Rudolphe Kann and Joseph Duveen
Watrelot, Michaela ; Zlatohlávek, Martin (advisor) ; Winter, Petra (referee) ; Vlnas, Vít (referee)
Wilhelm von Bode and the International Art Market: the Unpublished Correspondence with Rudolphe Kann and Joseph Duveen This dissertation explores changing trends in the European and American art market in the late 19th and beginning of the 20th Centuries, in particular their influences, presented from the perspective of Wilhelm von Bode, renowned connoisseur and, at the time, director general of the Berlin Museums and explored predominantly through his relationship with the private collector Rudolphe Kann and art dealer Joseph Duveen. At the time, the collection of Rudolphe Kann was considered to be one of the most refined among the European private collections, yet it hasn't received much attention by contemporary scholars. This dissertation therefore offers the most systematic review of Kann's collection since 1907, the year when Bode compiled the revised catalogue. Wilhelm Bode was actively involved in building the Kann collection, as shown by the extensive numbers of private, previously unpublished, correspondence, which provided the foundation of this research. After the dealer Joseph Duveen bought the entire art collection of this prominent Parisian collector in the summer 1907 and subsequently sold almost all of the artworks to American collectors, the competitiveness of European private...
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Evaluation of Contemporary art as an alternative investment
Havlovicová, Alice ; Vácha, Lukáš (advisor) ; Hronec, Martin (referee)
Bibliographic note HAVLOVICOVÁ, Alice. Evaluation of Contemporary art as an alternative in- vestment Prague 2020. 66 pp. Bachelor thesis (Bc.) Charles University, Faculty of Social Sciences, Institute of Economic Studies. Thesis supervisor Mgr. Lukáš Vácha, Ph.D. Abstract This thesis investigates the investment performance of contemporary art. In order to analyze the risks and returns of the unique art market environment, the reader is presented with the market specifics, trends, and inefficient. The financial performance of contemporary art is estimated by means of extended models of hedonic regression and repeat-sales regression. Both methods allowš for the treatment of volatility of the art market caused by the infrequency of trading, resulting in two monthly contemporary art market indices. The in- dices are estimated based on auction results of contemporary art spanning from 2003 to 2015, including all artworks sold at least once, which presents a general overview of the contemporary art market. In line with the academic literature on the topic of art investment, the results suggest lower returns of contemporary art than traditional financial assets. Volatility and Sharpe ratios differ in the two indices. Based on the resulting price indices, we conclude that contempo- rary art presents moderate returns...
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Analysis and Aspects of Art as an Alternative Investment and its Price Determinants
Mozolikova, Alica ; Benáček, Vladimír (advisor) ; Moravcová, Hana (referee)
The purpose of this thesis is to examine the potential of art as an alternative investment. To do this, we start with a brief history of art market that is followed by an analysis of art market structure. We cover numerous risks affecting the behavior in the market subject to information asymmetry. As far as the feasibility of art as an investment is concerned, we identify different types of alternative investment and compare their potential. Despite high opacity of the art market, more data are being made available giving us an opportunity to present a clearer explanation of the current state of the art market. A question has to be asked, does the value of art solely depend on the subjectivity of human taste or on an opportunity to speculate? The subject of the detailed discussion are, both, internal and external factors, which influence the value of artworks, and hence the sale price. Using econometric analysis of auction records, we aim to uncover objective factors, which determine the sale price. The analyses lead to a conclusion that the price determinants, the most notable of which are auction houses and auction location, affect the sale price to a different extent. Yet, regardless the price, our subjective personal pleasure from a particular art piece might be crucial. JEL Classification Key...
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Falsification of paintings and its impact on the Czech art market
Bergerová, Anna ; Janištinová, Anna (advisor) ; Prokůpek, Marek (referee)
The aim of this thesis is to analyze the impacts of the falsification of paintings on the art market and on individuals. Another aim of the thesis is to identify the risk factors of buying art works on the Czech market. The partial aim is to bring to readers a comprehensive view of the issue of the falsification of paintings on the domestic art market. The theoretical part is based on the literature that has not been published so far and maps the basic mechanisms of falsification of paintings. The practical part is based on interviews with experts, criminologists and collectors who have a personal experience of buying a forger. Based on the results of the interviews, the issues of falsification of painting works are answered, the most frequently falsified Czech artists are identified and the risk factors that lead to the purchase of counterfeit. Three artists demonstrate an analysis of expertise and forensic technique in determining the authenticity of the art work.
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Analysis of Price Determinants in the Art Market
Mizeráková, Elena ; Šopov, Boril (advisor) ; Moravcová, Hana (referee)
1 Abstract What qualities make the best-selling artworks worth so much? Does the in- terest of the general public influence the probability that the art will be sold in auction? The art market research focuses on various aspects that affect the potential of art as an investment. The boom of big data offers a unique op- portunity to utilize its global impact and improve the present models with a novel measure. Into the econometric analysis of auction results the thesis im- plements a change in the Internet searching volume provided by Google Trends as a reflection of the taste and the state of mind of society. The subject of the detailed discussion are not only the price determinants, but also the factors that affect the selling probability. The findings lead to a conclusion that the proposed measure based on Google Trends is significant for determining both, the odds of selling the artwork and its price. Beside that, an important effect on the price and the probability have auction houses, the personal brand of the artist or the medium of artwork. JEL Classification D44, C25, F23, Z10, Z11 Keywords art market, auctions, Google Trends, prices, price determinants, odds of selling Author's e-mail elena.mizerakova@gmail.com Supervisor's e-mail boril.sopov@gmail.com
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The Saatchi Phenomenon
Škvárová, Tereza ; Klimešová, Marie (advisor) ; Rakušanová, Marie (referee)
This bachelor thesis focuses on Charles Saatchi, who will be presented here as an important figure among contemporary art collectors. Not only the biography, which is written in the following chapters, but also Saatchi's art collection, buying strategies and the Saatchi Gallery are mentioned. This thesis examines possible connections between Saatchi's acquisitions and the art market. Besides these is written more about the influence of Charles Saatchi on Young British Artists, a loose group of artists. This bachelor thesis presents also Saatchi's relations to the other art collectors.
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The phenomenon of the falsifications of the objects of fine arts
Chvojková, Veronika ; Švestka, Jiří (advisor) ; Půtová, Barbora (referee)
The thesis focuses on theoretical analysis of the cultural phenomenon of artwork forgery. It describes the history of forgery in painting and sculpting in the Western society. The analysis is based mostly on philosophy and history of art, psychology, and history. The culturological approach is used, mainly in the interdisciplinary mapping of the historical and psychological process of artwork forgery. The thesis analyses contemporary approaches to the identity of artwork and its forgery, it also depicts partial problems of artwork forgery. To challenge this phenomenon, famous examples of forgers are used and decribed, such as Alceo Dossena, Han van Meegeren, Eric Hebborn, and Wolfgang Beltracchi. The situation and legal concenquences for forgers in the Czech Republic are also described. The aim of this thesis is to offer a complex overview of the phenomenon of artwork forgery.
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