Yuqi Duan

Date of Award

2024

Document Type

Thesis - Restricted Access (SIA Only)

Degree Name

Master of Arts (MA)

Department

Art Business

First Advisor

Jin Zhang

Abstract

The art market is complex and dynamic since art is no longer just cultural artifacts but also commodities sold in the art market. As such, consumers, mostly art enthusiasts and investors, make choices based on many factors. This paper investigates the role of commodity attributes of art in art consumption and purchase, among other motivating factors. Commodity attributes can range from tangible to intangible art features influencing consumers' desire to purchase or consume art. Through an extensive review of available literature, this study identifies some commodity attributes closely linked to art consumption and purchase. It explores the impact of design aesthetics, art and artists' reputation, rarity and uncertainty, and price on the art enthusiast's perception of value and purchasing decision of particular arts. It further delves into the motivation based on needs, socio-demography, and individual emotional attachments that influences purchase decision and consumption of art. The study employs quantitative and qualitative data-gathering methods through a survey using questionnaires. The questionnaires that have both close-ended and open- ended questions aim to provide a comprehensive understanding of the interplay between commodity attributes of art and other motivation on customers' purchasing and
consumption decisions of art. The questionnaires are spread through google surveys to art enthusiasts, not limited to collectors and galleries. The study's findings determine that aesthetic design, rarity and uncertainty, art and artist reputation, and price significantly influence the decision to purchase art. It further
determines that individuals need self-actualization and finance security, equally
influencing the decision to purchase art. Further, the study determines the socio- demographic factors such as age, level of education, cultural background, an income levels also influence the decision to purchase art. The study's findings will contribute to the existing literature on art marketing, consumer behavior, and cultural influence on art. The study's outcome will aid art market shareholders, not limited to artists, galleries, and collectors, in developing proper strategies to sell art and engage consumers.

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