Investigating preferences in art collecting: the case of the François Pinault Collection

Abstract

AbstractThis article focuses on private art collections that play a relevant role on the art market while reducing its information asymmetry. Knowledge of how art consumers such as private art collectors show preferences for specific artworks may allow to identify collecting patterns based on the preference of some artworks’ signs. Understanding these patterns is essential for evaluating the impact of art collectors on the art market. The evolution of the art market shows complex consumption systems that shape the cognition and behavior of actors such as private art collectors. Consequently, to be a key art collector and to progress as such in today’s art world implies a constant reinterpretation about what it means to consume and to collect art. This paper explores the collection of one of the most important art collectors in the world, the French tycoon François Pinault. More precisely, his background as a key collector was examined, and a number of preferences toward particular signs which connote his collected artworks were identified. All the collected artworks were observed through a descriptive data analysis of the Pinault Collection’s exhibition catalogues, published from 2006 to 2015, enforced by the statistical decision tree classifier. Results show how the Pinault Collection is shaped by collecting preferences that can be described as collecting patterns. As a preeminent collector and owner of one of the two major auction houses in the world, Pinault’s consumption preferences and decisions may impact the art market, for instance through signals and by influencing other art market players or the artists’ careers.