Prices for Art by Female and Male Artists of African Descent in the Auction Market

• In Event: 433 - Section on Sociology of Culture Paper Session. Art, Money, and Meaning

Abstract

While the literatures on women artists and African American and African Diaspora artists have flourished over the past four decades, there has been less study of specifically women artists of African descent. This paper helps to fill this gap by developing and testing three alternative propositions concerning changes in median and mean price ratios of contemporary art by male and female artists of African descent. Auction prices are a critical site of study for inequality in the art world because they influence the livelihood and status of artists and collectors’ accessibility to work. Using an original dataset of all art prices by male and female artists of African descent in Christie’s New York Contemporary auctions from 1996—the year that women artists of African descent entered this market—until 2014, I test outsider to insider, outsider, and insider propositions. Findings support the outsider to insider perspective. Median and mean prices for art by females of African descent are lower than those for males, but this gap has decreased over time. This paper offers new insight on economic inequality between male and female artists of African descent. It also offers fresh perspective on debates about cultural exclusiveness in contemporary life and controversies about diversity in the labor market. Finally, it also makes interdisciplinary contributions by adding to the economics literature on art prices and art history literature on African American artists.

Author

• Patricia A. Banks, Mount Holyoke College