faster than the overall market. In contrast to earlier studies, we find evidence of a positive masterpiece effect: high …

artworks tend to generate above average returns (the “masterpiece effect”), although (4) there is strong evidence in our data … auctions, masterpiece effect, declining price anomaly, Latin American art Corresponding author: Nauro F. Campos … further discussion. 2 believe in the existence of a “masterpiece effect,” namely, that the most expensive pieces of each …

notion that the best or more expensive artworks tend to generate above average returns (the masterpiece effect"), although (4 …

notion that the best or more expensive artworks tend to generate above average returns (the “masterpiece effect”), although … artworks tend to generate above average returns (the “masterpiece effect”), although (4) there is strong evidence in our data … auctions, masterpiece effect, declining price anomaly, Latin American art Corresponding author: Nauro F. Campos …