The Market for Sculptures: an Adjacent Year Regression Index

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The Market for Sculptures: an Adjacent Year Regression Index

Author Info

Locatelli-Biey, Marilena ()
Zanola, Roberto ()

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Abstract

This paper analyses the performance of an investment in sculptures during the period 1987-1995 by applying the hedonic price technique with time dummy variables to a sample of over 27,000 sales occured at auctions. The main finding is that the trend of the rate of return on an investment in sculptures is more stable than those associated to alternative forms of investment during the analysed period.

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Publisher Info
Paper provided by Department of Public Policy and Public Choice - POLIS in its series P.O.L.I.S. department's Working Papers with number 14.

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Length: 22 pages
Date of creation: May 2000
Date of revision:
Handle: RePEc:uca:ucapdv:14

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Find related papers by JEL classification:
C5 - Mathematical and Quantitative Methods - - Econometric Modeling
Z1 - Other Special Topics - - Cultural Economics

This paper has been announced in the following NEP Reports:

NEP-ALL-2001-01-21 (All new papers)

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

V. Ginsburgh & A.-F. Penders, 1997. "Land Artists and Art Markets," Journal of Cultural Economics, Springer, vol. 21(3), pages 219-228, September. [Downloadable!] (restricted)
Stein, John Picard, 1977. "The Monetary Appreciation of Paintings," Journal of Political Economy, University of Chicago Press, vol. 85(5), pages 1021-35, October. [Downloadable!] (restricted)
Goetzmann, William N, 1993. "Accounting for Taste: Art and the Financial Markets over Three Centuries," American Economic Review, American Economic Association, vol. 83(5), pages 1370-76, December. [Downloadable!] (restricted)
Luc Renneboog, 2002. "The monetary appreciation of paintings: from realism to Magritte," Cambridge Journal of Economics, Oxford University Press, vol. 26(3), pages 331-358, May.
Other versions:
- Renneboog, L.D.R. & Houte, T. van, 1999. "The monetary appreciation of paintings : from realism to Magritte," Discussion Paper 62, Tilburg University, Center for Economic Research. [Downloadable!]

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