The Stock Market Outsider by Philip Fanara

This article considers the strategies developed by a coalition of innovators and supporters to contribute to the consecration of a controversial innovation that transgresses the established codes. Furthermore, as such a comparison has never previously been conducted, a more accurate analysis of both art movements was possible, enriching the existing body of studies.

In light of these findings, as impressionism was established one century before urban art, this dissertation could be considered a starting point for a potential future trend analysis of the urban art market. Last of all, the quantitative study demonstrates that impressionist and urban art market trends are strongly correlated. Moreover, empirical evidence shows that both art movements developed through four specific phases, during which each one was closely related to the associated art market trend. The empirical findings show that it is possible to consider impressionism and urban art outsider ecosystems because, in creating their own identities and independent rules, they are both detached from an established art market system. In addition, databases of records of sales were constructed for both movements in order to undertake a quantitative analysis. Existing literature on socio-economic theories and historical studies was considered, and four interviews were conducted to apply the empirical findings.

In order to attain the research objectives, both quantitative and qualitative research were adopted. The object of this research is to explore why these two art movements can be considered outsider ecosystems, to observe the ways in which the development of their distinctive ecosystems influenced their art markets, and to understand the extent to which impressionism and urban art are comparable. The thesis investigates the concept of -outsider art ecosystem- by means of a comparative analysis of two case studies: impressionism and urban art.

The Stock Market Outsider by Philip Fanara