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Stamp characteristics and long-term return after issuance: evidence from new China stamps

Chen, Xin; Chen, Xian - In: China Finance Review International 2 (2012) August, pp. 351-376

Purpose–The purpose of this paper is to examine long-term return of new China collectible stamps after their issuance … determinants of stamps' long-term return and test their hypotheses empirically in a sample of 1,201 sets of Chinese collectible … stamps issued between 1949 and 2008. Findings–The paper finds Chinese stamps provide decent returns for collectors in terms …

Persistent link: https://www.econbiz.de/10010565827

The Iconic Boom in Modern Russian Art

Renneboog, Luc; Spaenjers, C. - Tilburg University, Center for Economic Research - 2009

This paper investigates the prices and the returns in the market for modern Russian art, a prime example of an ‘emerging art market’, over the last four decades. After applying a hedonic regression model on an extensive dataset containing 52,154 sales by 410 Russian artists, we show that the...

Persistent link: https://www.econbiz.de/10011091483

An hedonic analysis of American collectable comic-book prices

Wyburn, John; Roach, Paul - In: Journal of Cultural Economics 36 (2012) 4, pp. 309-326

A well-documented instance of the establishment and evolution of a modern market is that of the American collectable comic-book market. The development of this can be reliably traced from inception to the present day. A sample of 1,100 American collectable comic-books is subjected to an hedonic...

Persistent link: https://www.econbiz.de/10010867749

Buying Beauty : On Prices and Returns in the Art Market

Renneboog, Luc; Spaenjers, C. - Tilburg University, Center for Economic Research - 2009

This paper investigates the evolution of prices and returns in the art market since the middle of the previous century. We first compile a comprehensive list of more than 10,000 artists and then build a dataset that contains information on more than 1.1 million auction sales of paintings,...

Persistent link: https://www.econbiz.de/10011090620

Art and Money

Renneboog, Luc; Goetzmann, W.; Spaenjers, C. - Tilburg University, Center for Economic Research - 2010

This paper investigates the impact of equity markets and top incomes on art prices. Using a newly constructed art market index, we demonstrate that equity market returns have had a significant impact on the price level in the art market over the last two centuries. We also find empirical...

Persistent link: https://www.econbiz.de/10011090912

Does it Pay to Invest in Art? A Selection-corrected Returns Perspective

Kraussl, Roman; Korteweg, Arthur; Verwijmeren, Patrick - Luxembourg School of Finance, Faculté de droit, … - 2013

This paper shows the importance of correcting for sample selection when investing in illiquid assets with endogenous trading. Using a large sample of 20,538 paintings that were sold repeatedly at auction between 1972 and 2010, we find that paintings with higher price appreciation are more likely...

Persistent link: https://www.econbiz.de/10011095084

Does it Pay to Invest in Art? A Selection-corrected Returns Perspective

Kraussl, Roman; Korteweg, Arthur; Verwijmeren, Patrick - Centre de Recherche en Économie Appliquée (CREA), … - 2013

Persistent link: https://www.econbiz.de/10010900735

Art and Money

Goetzmann, William; Renneboog, Luc; Spaenjers, Christophe - National Bureau of Economic Research (NBER) - 2009

This paper investigates the impact of equity markets and top incomes on art prices. Using a long-term art market index that incorporates information on repeated sales since the eighteenth century, we demonstrate that both same-year and lagged equity market returns have a significant impact on...

Persistent link: https://www.econbiz.de/10008628340

Does it pay to invest in Art? A Selection-corrected Returns Perspective

Korteweg, Arthur; Kräussl, Roman; Verwijmeren, Patrick - Tinbergen Instituut - 2013

Persistent link: https://www.econbiz.de/10011256292

Hard Assets : The Returns on Rare Diamonds and Gems

Renneboog, Luc; Spaenjers, C. - Tilburg University, Center for Economic Research - 2011

This paper examines the investment performance of diamonds and other gems (sapphires, rubies, and emeralds) over the period 1999-2010, using a novel data set of auction transactions. Between 1999 and 2010, the annualized real USD returns for white and colored diamonds equaled 6.4% and 2.9%,...

Persistent link: https://www.econbiz.de/10011091097