Perception, Preference, and Prices in Josef Albers’ Square Series

What is it about?

Do market prices reflect color preferences when it comes to paintings? _x000D_ _x000D_ We examine the relationship between the color attributes of paintings in the Homage to the Square series by Josef Albers and the prices. The paintings in this series share a very similar structure (nested squares) and their figurative element is minimal, therefore, they are ideal to study the color-price relationship. The only differences among these paintings are the colors employed._x000D_ _x000D_ Albers was a true experimentalist when it came to color, and over the years he arrived at several conclusions regarding how colors interact, harmonious combinations, and preferences which, presumably, influenced his color choices._x000D_ _x000D_ We contend that prices can shed some light on preferences. After all prices reflect a decision in which the buyer bears the consequences of his or her choice. This is in contrast with an experimental setting in which decision-makers decide quickly, and then advance to the next task without experiencing in a significant manner the consequences of their decision._x000D_ _x000D_ Our findings support some established views among art professionals (people prefer bluish hues). However, they also suggest that the way colors interact, at least judged by the market, might be less relevant than which colors dominate the palette.

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