Paintings and Numbers : An Econometric Investigation of Sales Rates, Prices and Returns in Latin American Art Auctions

This paper uses a unique data set of Latin American paintings auctioned by Sotheby's between 1995 and 2002 to investigate several puzzles from the recent auctions literature. Our results suggest that: (1) the reputation of an artist and the provenance of the artwork, omitted variables in most previous studies, seem to be more important determinants of the sale price of a painting than standard factors, such as medium and size...

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Year of publication:	2008-04-01
Authors:	Campos, Nauro F. ; Barbosa, Renata Leite
Institutions:	Forschungsinstitut zur Zukunft der Arbeit <Bonn>
Subject:	Prestige \| reputation \| Prognose \| Preisänderung \| declining price anomaly \| Erlös \| masterpiece effect

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1. Introduction
2. The Art Market: Workings and Evidence
3. Methodology
4. Data
5. Results
6. Concluding remarks
References

Persistent link: https://www.econbiz.de/10005860085