Scholarlink

<p>Art market studies often overlook the consumption function of artworks. Gift artworks, with their primary purpose being relational rather than commercial, reveal how social value converts into economic value. Using a dataset of 9953 globally auctioned works by Zhang Daqian (1899–1983), one of the most prominent Chinese artists, we identify 3128 gift artworks (31.4%) and find that on average, gift artworks achieve lower prices than non-gift works. However, provenance and elite dedicatee identities can enhance value. We find no evidence for an endowment effect. By drawing attention to one of the most distinctive phenomena in Chinese art, this study offers fresh insights into how socio-cultural dynamics shape the art trade.</p>

错误：搜索内容不能为空，请输入英文关键词
错误：关键词超出字数限制，请精简
高级检索

The art of the gift: provenance and the endowment effect in Chinese gift artworks

  • 期刊论文

  • 发表日期：

    2025年11月20日

查看全文
  • Yuqing Song

摘要

Art market studies often overlook the consumption function of artworks. Gift artworks, with their primary purpose being relational rather than commercial, reveal how social value converts into economic value. Using a dataset of 9953 globally auctioned works by Zhang Daqian (1899–1983), one of the most prominent Chinese artists, we identify 3128 gift artworks (31.4%) and find that on average, gift artworks achieve lower prices than non-gift works. However, provenance and elite dedicatee identities can enhance value. We find no evidence for an endowment effect. By drawing attention to one of the most distinctive phenomena in Chinese art, this study offers fresh insights into how socio-cultural dynamics shape the art trade.