Performing aesthetic confidence: how contemporary art collectors maintain status

In cultural markets, where value is highly uncertain, intermediaries and consumers select products by using status signals, including public metrics and informal recommendations. However, certain intermediaries and consumers risk their statuses and access to informal recommendations if they appear to rely on these status signals. Drawing upon the case of contemporary art collectors in New York City, I reveal that collectors work to maintain their statuses while utilizing status signals through performances of ‘aesthetic confidence’. In these performances, they claim a willingness to choose artworks based on their independent and good taste. Collectors flexibly cite multiple and sometimes opposing qualities of their purchases and interactions as evidence of aesthetic confidence. Higher status collectors reinforce status hierarchies through their privileged access to resources for displaying aesthetic confidence and their policing of lower status collectors’ claims. Performances of aesthetic confidence are both influenced by status and necessary for displaying status.