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A Price Index for Art Market Auctions Author info | Abstract | Publisher info | Download info | Related research | Statistics G. Candela
A. Scorcu
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This paper proposes a price index for modern andcontemporary paintings based on estimates and auctionprices. We use this index for the evaluation of theItalian art market and for comparisons with returns onother assets. During the period 1983–1994 art pricesincreased in line with inflation but returns onpaintings were lower than returns on financial assets.In the long run art prices are unrelated to financialassets prices, but a positive correlation with realestate prices emerges. Copyright Kluwer Academic Publishers 1997
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Article provided by Springer in its journal Journal of Cultural Economics .
Volume (Year): 21 (1997)
Issue (Month): 3 (September)
Pages: 175-196
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Handle: RePEc:kap:jculte:v:21:y:1997:i:3:p:175-196Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=100284
For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).
Keywords: art market ; price index ; cointegration ; causality ; Other versions of this item:
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Guido Candela & Antonello Scorcu, 2001.
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G. Candela & P. Figini & A. E. Scorcu, 2003.
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Marilena Locatelli Biey & Roberto Zanola, 1999.
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Finn R. Førsund & Roberto Zanola, 2001.
"Selling Picasso paintings: the efficiency of auction houses ,"
ICER Working Papers
07-2001, ICER - International Centre for Economic Research.
[Downloadable!]
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