Discoveries of fakes: Their impact on the art market
This paper shows that before (after) fakes’ discoveries, artworks are less (more) likely to be sold through Sotheby’s or Christie’s. Prices only react negatively with a lag, suggesting that sellers try to postpone their sales as long as possible.
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References listed on IDEAS
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- Renneboog, L.D.R. & Spaenjers, C., 2009.
"Buying Beauty : On Prices and Returns in the Art Market,"
2009-15, Tilburg University, Center for Economic Research.
- Luc Renneboog & Christophe Spaenjers, 2013. "Buying Beauty: On Prices and Returns in the Art Market," Management Science, INFORMS, vol. 59(1), pages 36-53, February.
- Victor Ginsburgh & David Throsby, 2006.
"Handbook of the economics of art and culture,"
ULB Institutional Repository
2013/1673, ULB -- Universite Libre de Bruxelles.
- Ginsburgh, Victor & Mei, Jianping & Moses, Michael, 2006. "The Computation of Prices Indices," Handbook of the Economics of Art and Culture, Elsevier.
- Heckman, James, 2013.
"Sample selection bias as a specification error,"
Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
- Collins, Alan & Scorcu, Antonello & Zanola, Roberto, 2009. "Reconsidering hedonic art price indexes," Economics Letters, Elsevier, vol. 104(2), pages 57-60, August.
- Victor Ginsburgh & Jianping Mei & Michael Moses, 2006. "On the computation of art indices in art," ULB Institutional Repository 2013/7290, ULB -- Universite Libre de Bruxelles.
- Ott Toomet & Arne Henningsen, . "Sample Selection Models in R: Package sampleSelection," Journal of Statistical Software, American Statistical Association, vol. 27(i07).
- repec:dgr:kubtil:2009004 is not listed on IDEAS
- repec:dgr:kubcen:200915 is not listed on IDEAS
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