The emotional side of collecting: disgust and attraction in the art market

This study delves into the exploration of a niche organisational culture within the art market, focusing on shared values that drive photography collectors' appreciation and acquisition of works considered repugnant by mainstream standards. The research aims to comprehend the emotional dynamics guiding collectors' choices, particularly regarding subjects that typically evoke negative emotions, such as explicit sexuality, deformity, illness, and death. Utilising an original dataset comprising 1,766 lots from 24 artists auctioned at major European events between 2013 and 2018, the analysis sheds light on intriguing trends. Collectors demonstrate a heightened inclination to purchase and invest higher prices in photographs featuring disturbing subjects compared to traditional ones. Qualitative interviews reveal that this positive evaluation is anchored in the categories of 'extraordinariness,' 'change,' and 'sophistication' associated with these artworks. This research provides insights into how shared values within niche organisational cultures shape organisational actors' preferences and behaviours in the art market.