DOES BELONGING TO AN ARTISTIC MOVEMENT MAKE BETTER-SELLING ARTISTS?

By Christiane Hellmanzik and Douglas Hodgson

The now-substantial literature on the career age-valuation profiles of artists has paid limited attention to the effects on the profiles of association with artistic movements. We undertake a hedonic regression analysis using a large data set on recent auction prices for nearly 300 important modern painters. We focus on the possible contribution to career creativity profiles of movement association, for such major movements as Cubism, Surrealism, and Pop Art. We also consider effects of association with different categories of movements and detect intra-movement heterogeneity in creativity profiles.

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IS THERE A ROLE FOR THE ARTIST IN THE FORMATION OF VALUE?

By Francesco Angelini and Massimiliano Castellani

The art market literature is still lacking a detailed analysis of the artist’s role in the formation process of artworks’ value. In order to improve the understanding of this process, we discuss what value is, how it is studied, and how it is ultimately influenced by the artist.

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THE PRICE OF A NAME: ART MARKET VALUATION OF PROVISIONAL NAMES (“THE MASTER OF …”)

By Kim Oosterlinck and Anne-Sophie Radermecker

The value of a painting is influenced above all by the artist who created it and his reputation. But what about those whose names have not survived the test of time? For these painters, art historians often create a provisional name describing attributes of the painter or of a painting of reference. Our research analyses how the market values these paintings.

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ARE THEY ALL THE SAME? A CASE STUDY OF THREE AUSTRALIAN INDIGENOUS ARTISTS

By Lisa Farrell, Jane M. Fry and Tim R.L. Fry

Many studies of art auctions assume that a single statistical model using observed characteristics relating to the artwork and the auction can explain the observed variation in the sample of all artworks and artists. We show that such “pooling” is not always appropriate and may lead to erroneous conclusions.

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AWFULLY BEAUTIFUL? I REALLY LIKE THIS ARTWORK, IF I AM NOT MISTAKEN

By Monika Kackovic 

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Information about the quality of producers and products has strategic value and affects economic decisions. But what happens in markets with informational gaps where quality is difficult to observe and where objective criteria to make quality judgments are largely lacking?

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VOLATILITY OF PRICE INDICES FOR HETEROGENEOUS GOODS WITH APPLICATIONS TO THE FINE ART MARKET

By Fabian Bocart and Christian Hafner

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Understanding the behavior of art prices is important to precisely anticipate the financial benefits of owning art. So far, a very common approach in the scientific literature is to assume that all artworks follow a common, deterministic path. What happens if we reverse the perspective assuming that art prices behave randomly?

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