I would predict the conservatism simply because it seems to go hand in hand with money and age. I would suggest the liberalism as the inevitable result of having a college education. If this is true of this audience, then we can stipulate the influences on taste. The conservative mind is most comfortable with ideals and principles, and thus at home with work from the past, work with a certified history of recognition and acceptance, and ill at ease with new work unless produced in the style of the old masters. To the conservative there is nothing like seeing the photographs of Josephson or Jachna, for they can again enjoy familiar forms to integrate into a pantheon of masters.
Liberalism defines itself as allowing anything, but doing nothing.
The liberal remains ever skeptical, refusing to integrate new work into a schema of all things, and continuous to question and even deny resolution of content. To satisfy a liberal one creates content which never resolutely drives home a point of view, which is elusive at the start, and which includes its own negation. There are some ambiguous contradictions between these two, but I would suggest that these get resolved on the field of aesthetics, which functions as a display of meditative pleasure in the formal aspect of art work at the neglect of any serious intellectual or emotional engagement. They appreciate, but nominal content takes a backseat on this trip. I would suggest that this audience is not interested in upstart artists or avant-garde work, or work which makes light of the monetary value of art objects, or which concentrates on art making as opposed to art objects, or which treads political pathways which have not already been well charted by popular media, or rationally develops a point of view to the exclusion of alternatives.