Please use this identifier to cite or link to this item:
Appears in Collections:Accounting and Finance Journal Articles
Peer Review Status: Refereed
Title: To sell or not to sell? Pricing strategies of newly-graduated artists
Author(s): Lee, Boram
Fraser, Ian
Fillis, Ian
Contact Email:
Keywords: Pricing
Contemporary art
Newly-graduated artists
Endowment effect
Issue Date: Jun-2022
Date Deposited: 25-Mar-2022
Citation: Lee B, Fraser I & Fillis I (2022) To sell or not to sell? Pricing strategies of newly-graduated artists. Journal of Business Research, 145, pp. 595-604.
Abstract: The paper investigates the pricing strategies of newly-graduated artists and identifies innovative strategies more suited to achieving sustainable practice. Our work is novel in investigating the drivers of discrepancies between artists’ willingness-to-accept (WTA) and potential customers’ willingness-to-pay (WTP). Using mixed-methods, we explore the viewpoints of the ‘public’, by survey, and of ‘newly-graduated artists’ and ‘intermediaries’, by interviews, and interrogate price lists and sales records. Newly-graduated artists find pricing challenging, leading to ‘underpricing’ or ‘over-pricing’. Few artists make sales, reflecting discrepancies between WTA and WTP. Our work has theoretical and practical implications. Pricing reflects the ‘endowment effect’ (Thaler, 1980) and Bourdieu’s ‘avant-garde’ circuit. Our results imply a need for educational institutions and other intermediaries to offer more advice to newly-graduated artists who might benefit from adopting forms of personalized or participative pricing such as ‘Pay What You Want’ and, given the emergence of digital markets, contemporary techniques such as ‘action rules’.
DOI Link: 10.1016/j.jbusres.2022.03.035
Rights: The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.
Licence URL(s):

Files in This Item:
File Description SizeFormat 
Pricing Strategies of Newly Graduated Artists.pdfFulltext - Published Version609.46 kBAdobe PDFUnder Permanent Embargo    Request a copy

Note: If any of the files in this item are currently embargoed, you can request a copy directly from the author by clicking the padlock icon above. However, this facility is dependent on the depositor still being contactable at their original email address.

This item is protected by original copyright

Items in the Repository are protected by copyright, with all rights reserved, unless otherwise indicated.

The metadata of the records in the Repository are available under the CC0 public domain dedication: No Rights Reserved

If you believe that any material held in STORRE infringes copyright, please contact providing details and we will remove the Work from public display in STORRE and investigate your claim.