Returns of Impressionist, Modern and Contemporary European Paintings 1962-1991
We construct returns and quantity indices for Impressionist, Modern and Contemporary painting over the last thirty years, using the results of public auctions. In particular, we isolate the large swing in prices during the late 1980s; from results on individual artists, we also conclude that the randomness in the behaviour of prices is very limited, once the behaviour of the aggregate market in known.
Volume (Year): (1994)
Issue (Month): 35 ()
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