Management of Art Galleries – Business Models - Universität St.Gallen
Management of Art Galleries – Business Models - Universität St.Gallen
Management of Art Galleries – Business Models - Universität St.Gallen
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List <strong>of</strong> TablesList <strong>of</strong> TablesTable 1: Examples <strong>of</strong> Changing <strong>Business</strong> <strong>Models</strong> ....................................................................... 2Table 2: Selection <strong>of</strong> Existing Literature in Relevant Research Areas ......................................... 3Table 3: Identified Research Gaps ................................................................................................ 8Table 4: Ulrich's Four Types <strong>of</strong> <strong>Management</strong> Recommendation ............................................... 11Table 5: Overview <strong>of</strong> Research Design ...................................................................................... 13Table 6: Discussion <strong>of</strong> Success Factor Research ........................................................................ 18Table 7: Evolution From "Old" Towards "New" <strong>Business</strong> <strong>Models</strong>............................................ 21Table 8: The <strong>Business</strong> Model Concept as a New Theory to Understand a Company ................ 21Table 9: <strong>Business</strong> Model Components in Secondary Sources .................................................... 23Table 10: <strong>Business</strong> Model Components ..................................................................................... 24Table 11: Comparison <strong>of</strong> <strong>Business</strong> Model Components to Other Definition ............................. 25Table 12: Components <strong>of</strong> the Adapted Bieger et al. <strong>Business</strong> Model ........................................ 27Table 13: Summary <strong>of</strong> Advantages and Limitations <strong>of</strong> the <strong>Business</strong> Model Concept ............... 36Table 14: The Composition <strong>of</strong> the <strong>Art</strong> Market by Category and Sector ..................................... 37Table 15: Long-term Price Development on the Global Fine <strong>Art</strong> Market (1761-2004) ............. 42Table 16: Categories and Description <strong>of</strong> Auction Houses .......................................................... 51Table 17: Categories, Characteristics and Description <strong>of</strong> <strong>Art</strong> <strong>Galleries</strong> ..................................... 54Table 18: Categories, Characteristics and Description <strong>of</strong> <strong>Art</strong>ists in Contemporary <strong>Art</strong> ............ 60Table 19: Categories and Description <strong>of</strong> Collectors ................................................................... 67Table 20: Characteristics <strong>of</strong> the <strong>Art</strong> Market by Comparison with the Financial Market ........... 73Table 21: Overview <strong>of</strong> Sample Selection in Germany, Austria and Switzerland ....................... 84Table 22: Data Collection Process <strong>of</strong> the Quantitative <strong>St</strong>udy ..................................................... 86Table 23: Comparison <strong>of</strong> Our <strong>St</strong>udy (2008) with the BVDG <strong>St</strong>udy (1999) ............................... 92Table 24: Correlation Analysis ................................................................................................. 111Table 25: Regression Results for Bieger's <strong>Business</strong> Model Dimensions ................................. 118Table 26: Classification <strong>of</strong> <strong>Business</strong> <strong>Models</strong> for <strong>Art</strong> <strong>Galleries</strong> ................................................ 127Table 27: Interview Partner for Implication Part ...................................................................... 134Table 28: Traditional <strong>Art</strong> Gallery <strong>Business</strong> Model vs. New <strong>Art</strong> Gallery <strong>Business</strong> Model ...... 142Table 29: Comparison <strong>of</strong> the Value Proposition <strong>of</strong> the Three Case <strong>St</strong>udies ............................ 150Table 30: Description <strong>of</strong> a New Class <strong>of</strong> Clients ...................................................................... 153Table 31: Market Segmentation and Corresponding Value Proposition .................................. 154Table 32: Function <strong>of</strong> a Brand from Two Perspectives ............................................................ 158Table 33: Examples for a Communication Approach for Each Customer Category ................ 162Table 34: Key Characteristics and Description <strong>of</strong> Gallery Employees .................................... 172Table 35: Factors to Evaluate the Portfolio <strong>of</strong> <strong>Art</strong>ists .............................................................. 183Table 36: Results <strong>of</strong> This Dissertation ...................................................................................... 190Table 37: Construction <strong>of</strong> Summary Measures by Taking First Principal Component (FPC) . 209
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