What Determines Cézanne’S Art Pricing? A Hedonic Regression Method
AbstractThe contribution of this paper is empirical. We employed the hedonic regression method to compile a price index for Cézanne’s artworks and examine their financial properties. This paper reported the following findings: i) oil prints were more expensive than prints on paper, ii) there was a statistically significant evidence in favour of the presence of the Law of One Price for Cézanne’s artworks, iii) the dimensions of the sample’s prints were found to influence hammer prices, iv) paintings made during the artist’s later career were traded at higher premiums than prints made in the early stages of his career, and finally v) it is inconclusive whether Cézanne’s prints could provide strong benefits to a diversified portfolio.
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Bibliographic InfoArticle provided by Alexandru Ioan Cuza University, Faculty of Economics and Business Administration in its journal Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi.
Volume (Year): 58 (2011)
Issue (Month): (november)
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Postal: Universitatea Al. I. Cuza; B-dul Carol I nr. 22; Iasi
Phone: 004 0232 201070
Fax: 004 0232 217000
Web page: http://anale.feaa.uaic.ro/anale/
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cézanne; hedonic regression method; CAPM;
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