BAUWENS, Luc; GINSBURGH, Victor - Institut de Recherche Économique et Sociale (IRES), … - 2000
Public sales art catalogues include low and high pre-sale price estimates by experts. This makes it possible to analyze whether pre-sale estimates are unbiased predictors of realized prices. Unbiasedness is tested using a sample of some 1,600 lots of English silver auctioned by Christie's and...