Excite Artwork Purchasers with Vibrant Colors

Attention to what you’re selling usually increases the amount shoppers are willing to pay, and intense opinions attract attention to what you’re selling. Up to a point. Beyond that tipping point, intensity repels attention. Interest is outweighed by discomfort at even thinking about the matter.
     Researchers at IESA Business School and EICEA-Universidad de La Sabana provide a specific example of that general principle in the art market. They saw how paintings by five prestigious Latin American artists which incorporated intense colors attracted higher prices at Sotheby’s and Christie’s auctions than did paintings by the same artists with more subdued colors.
     Up to a point. The plotted relationship between color intensity and fetched auction price was an upside-down U shape. If you’re an art dealer, you could graph the relationships for paintings you sell to identify about where the tipping point occurs and then use that in subsequent auction bids or pricing decisions.
     Because of the range of data collected about the 1,627 auction sales, the researchers were able to also identify other determinants of final bids for the paintings. The larger the canvas, the higher the average price. Paintings executed by the artists when they were younger tended to fetch higher prices then those executed by the same artists when they were older. Longer descriptions in the auction catalog, reports that the work had been shown at a museum or gallery, and a record of past ownership all served to increase prices offered.
     Other research shows the influence of color intensity on people’s willingness to pay for items beyond paintings. When shoppers are anxious to use a purchase soon, they’ll consider items with saturated colors to be a better value for the money. The reason, according to studies at Boston College, is that vibrancy makes items look larger, which in turn is due to how saturated colors grab attention. Consumers who place a higher value on an item being larger will pay more when the item’s colors are saturated.
     To use this finding as a marketer, recognize that a color’s saturation refers to a property other than its hue. Red is a different hue than green or blue. Saturation refers to the purity or colorfulness of the hue. The attention-grabbing property of saturation may have evolutionary origins in that ripe fruits and venomous animals in nature tend to have more saturated colors than their surroundings.

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