Modern Art and Architecture Commons^™

From Canvas To Crude: Volatility And Value Of Andy Warhol Prints, Arseniy Cassidy

MA in Art Business Dissertations

The volatility of commodities, such as oil, is well understood to reflect macroeconomic shocks, but less is known about how broader economic forces influence the performance of art. This study compares Andy Warhol print prices with West Texas Intermediate (WTI) crude oil, analysing both assets through a macroeconomic lens. Using data from 2000–2025, we examine annual returns, volatility, and risk-adjusted performance, and also assess correlations with the stock market. The results show that Warhol prints achieved higher average returns than oil or equities but with much greater volatility and pronounced boom-bust cycles. Major macroeconomic events – such as recessions, oil …

Gender, Feminism, And Market Dynamics: Examining Gender And Feminism In The Art Market Through Two Female Chinese Artists, Hung Liu (劉虹) And Yu Hong (喻红), Amelia Campbell-Breeden

MA in Art Business Dissertations

This dissertation examines the articulation of feminist expression in contemporary Chinese women’s oil painting and its positioning and valuation within the art market. A focus is placed on Yu Hong and Hung Liu, analysing the interaction of gender, race, and censorship within both domestic and global frameworks. The study employs Grounded Theory to integrate qualitative and quantitative evidence from literature, exhibitions, market reports, rankings, and auction data, aiming to develop a theory from under-explored material instead of applying Western feminist beliefs.

Research suggests that recent advancements in female visibility are often driven by positive discrimination and curatorial “translation”, which uses …

The Impact Of Francisco Franco’S Dictatorship On The Art Market For Spanish Artists: How Did Francisco Franco’S Dictatorship And State Policy Shape The Domestic And Foreign Art Market For Spanish Artists?, Georges Ruiz-Picasso

MA in Art Business Dissertations

This dissertation aims to look at the impact of Francisco Franco’s dictatorship (1939-1975) on the art market for Spanish artists. By segmenting the research in two parts, one on the internal market and the other on the external market, the dissertation wants to determine how and the extent to which Francisco Franco’s dictatorship and state policies shape the domestic and foreign art market for Spanish artists? The study argues that, within the domestic market, the gradual political shift of the regime has permitted a slow progress towards internationalization. Whilst the domestic market experienced a limited productivity, some international Spanish artists …

Gendered Value: The Economics Of The Modernist Nude: Comparative Study Of Market Asymmetries Between Amedeo Modigliani, Suzanne Valadon, And Paula Modersohn-Becker, Ines Natuzzi

MA in Art Business Dissertations

This dissertation investigates the complex dimensions of gendered valuation through a comparative study of Amedeo Modigliani, Suzanne Valadon, and Paula Modersohn-Becker. Leading figures in the modernist reimagining of the nude in the early twentieth century, with shared ties to the Parisian milieu, their markets have since followed markedly different trajectories. Combining market and historiographical analysis with feminist theory, this study considers the structural, ideological, and discursive mechanisms that underpin these asymmetries and continue to inform the artists’ reception and valuation today.

By interrogating the gender ideologies, institutional barriers, and critical discourses behind these market asymmetries, this study argues that the …

How Have Emil Nolde’S Political Biographies Impacted His Market, From ‘Weimar Degenerate’ And ‘Dissident’, To ‘Complicit Antisemite’?, Samuel Goodwin-Hudson

MA in Art Business Dissertations

Emil Nolde is regarded as one of the most accomplished and innovative modernists. Celebrated for his varied iconographies expressed with thick, erratic brushstrokes, displaying highly saturated, non-naturalistic tonal contrasts, and pronounced, distorted forms. He often draws comparisons to Paul Gauguin and Vincent van Gogh. He died a national hero in Northern Germany, 1956, at 88 years of age. His oeuvre has inspired numerous artists, such as Georg Baselitz, Daniel Richter and Anselm Kiefer. Accordingly, his art has been exalted by institutions and converted by learned collectors, subsequently demanding huge sums.

The exhibition 'Emil Nolde. A German Legend. The Artist during …

“Everybody Loves A Conjurer:” The Fake Artworks Of Elmyr De Hory (1906-1976) And Their Consequences On The Art World, Caroline Grinstead

Student Scholar Symposium Abstracts and Posters

Art institutions such as museums, galleries, and auction houses have for many years been characterized as reliable and trustworthy. The act of art forgery threatens this integrity and causes these institutions to rethink how they acquire artworks. My research focuses on a specific art forger, Elmyr de Hory, who became notorious for being able to reproduce works in the style of notable artists such as Picasso, Matisse, and Modigliani. By successfully selling his forgeries to multiple museums and galleries, only to be discovered later, de Hory forced institutions to reconstruct their approaches in authenticating and acquiring works of art. As …

The 1895 Cézanne Show At Vollard’S Revisited, Robert Jensen

Art and Visual Studies Faculty Working Papers

The Cézanne show at Ambroise Vollard’s Paris gallery in November-December 1895 was a watershed moment for both artist and dealer. Both the artist and the dealer’s commercial successes date from this moment. The composition of Cézanne’s collectors was also largely divided by this exhibition. Who they were and what particular paintings they bought are listed below. The relative uniqueness of this solo exhibition is highlighted. The paper also addresses the still open questions as to how the paintings for the show were selected, by whom, and which pictures were included. In doing so it adds to the list of paintings …

What Are The Challenges Of Establishing The Fair Market Value (Fmv) Of Guggenheim Founding Collection? If The Transparency Of An Asset Value Is Possible On Non-Profit Financial Year Report, How Can The Fmv Preserve The Continuity Of Public Art Patronage, In Spite Of, Deaccession Artwork From The Guggenheim’S Collection Being Sold On The Auction Market?, Leng Ho

MA Theses

A collector’s financial interest in purchasing works of art is often motivated by potential return on investment. These collectors have heard countless stories of others gaining huge financial returns after consigning rare works of art from a museum collection. In recent decades, rising debates on the capitalizing of museum collections to gain financial assets allude to long-term negative repercussions. Those opposed postulate that art patron will lose trust in a museum’s ability to care for its publicly-owned collections. Deaccession is a difficult research topic, attempts to resolve any conflicts of interest in the matter of selling cultural work of art …

Bas Les Masques ! Pour Une Relecture Socio-Économique Du Montparnasse Des Années 1920, Léa Saint-Raymond

Artl@s Bulletin

This paper attempts to reconstruct the Parisian art world of the 1920s through the prism of the social sciences. Geography, sociology and network analysis shed new light on a caricature drawn by Sem, entitled Les Montparnos, which was published in 1929 in L’Illustration. The reconstruction of the artistic field strips away the masks, and leads us to conclude that Sem, the star of the Parisian Belle Epoque, was trying to reverse the stigma of his increasingly marginalized position by mocking a new generation of rising stars—such as Foujita, Man Ray, and Kiki de Montparnasse—who were starting to dominate …