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Capital Gains and the Rate of Return on a Stradivarius

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  • Ross, Myron H
  • Zondervan, Scott
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    Abstract

    What is the return on a Stradivarius? The return equals the capital gain. The return on specific violin sales averages 2.17 percent. The best Stradivariuses were made in the "Golden Period." Prices were significantly higher for Golden Period violins than for the other three periods examined. However, the rate of return was not significantly different for the four periods, with an overall return of 2.18 percent. When other factors (insurance, taxation, and user benefits) were taken into account, the rate of return varied between 1.2 and 4.7 percent. Copyright 1989 by Oxford University Press.

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    Bibliographic Info

    Article provided by Western Economic Association International in its journal Economic Inquiry.

    Volume (Year): 27 (1989)
    Issue (Month): 3 (July)
    Pages: 529-40

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    Handle: RePEc:oup:ecinqu:v:27:y:1989:i:3:p:529-40

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    Cited by:
    1. Bruno Frey, 1997. "Art Markets and Economics: Introduction," Journal of Cultural Economics, Springer, vol. 21(3), pages 165-173, September.
    2. G. Candela & A. Scorcu, 1997. "A Price Index for Art Market Auctions," Journal of Cultural Economics, Springer, vol. 21(3), pages 175-196, September.
    3. Orley Ashenfelter & Kathryn Graddy, 2003. "Auctions and the Price of Art," Journal of Economic Literature, American Economic Association, vol. 41(3), pages 763-787, September.
    4. Orley Ashenfelter & Kathryn Graddy, 2002. "Art Auctions: A Survey of Empirical Studies," NBER Working Papers 8997, National Bureau of Economic Research, Inc.
    5. Locatelli-Biey, Marilena & Zanola, Roberto, 2000. "The Market for Sculptures: an Adjacent Year Regression Index," POLIS Working Papers 14, Institute of Public Policy and Public Choice - POLIS.
    6. Marilena Locatelli-Biey & Roberto Zanola, 2002. "The Sculpture Market: An Adjacent Year Regression Index," Journal of Cultural Economics, Springer, vol. 26(1), pages 65-78, February.
    7. Frey, Bruno S. & Eichenberger, Reiner, 1995. "On the rate of return in the art market: Survey and evaluation," European Economic Review, Elsevier, vol. 39(3-4), pages 528-537, April.

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