The Impact of Museum Purchase on the Auction Prices of Paintings
This study examines how art museums‘purchasing policy influences the auction prices ofpaintings. Using a cross section of non-speculativetransactions during the period 1820–1970, we findconsiderable empirical support for the hypothesisthat public museums outside the U.S. pay above averageprices in auction markets providing higher thanaverage yields to private sellers. The typical U.S.private museums appear to be more restricted byfinancial constraints and the development of thegeneral economic conditions than their publiccounterparts. Copyright Kluwer Academic Publishers 1997
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 21 (1997)
Issue (Month): 3 (September)
|Contact details of provider:|| Web page: http://www.springer.com|
Web page: http://www.culturaleconomics.org/
More information through EDIRC
|Order Information:||Web: http://www.springer.com/economics/journal/10824/PS2|
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.:
- Victor Ginsburgh & Philippe Jeanfils, 1995.
"Long-term comovements in international markets for paintings,"
ULB Institutional Repository
2013/1717, ULB -- Universite Libre de Bruxelles.
- Ginsburgh, Victor & Jeanfils, Philippe, 1995. "Long-term comovements in international markets for paintings," European Economic Review, Elsevier, vol. 39(3-4), pages 538-548, April.
- Ginsburgh, V. & Jeanfils, P., . "Long-term comovements in international markets for paintings," CORE Discussion Papers RP 1147, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Nathalie Buelens & Victor Ginsburgh, 1993.
"Revisiting Baumol's Art as floating crap game,"
ULB Institutional Repository
2013/1727, ULB -- Universite Libre de Bruxelles.
- BUELENS, Nathalie & GINSBURGH, Victor, . "Revisiting Baumol's `art as floating crap game'," CORE Discussion Papers RP 1063, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Ginsburgh, V. & Buelens, N., 1992. "Revisiting Baumol's "Art As Floating Crap Game"," Papers 9204, Universite Libre de Bruxelles - C.E.M.E..
- 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.
- Baumol, William J, 1986. "Unnatural Value: Or Art Investment as Floating Crap Game," American Economic Review, American Economic Association, vol. 76(2), pages 10-14, May.
- Chanel, O., 1994.
"Is Art Market Behavior Predictable?,"
94b08, Universite Aix-Marseille III.
- Richard N. Rosett, 1991. "Art Museums in the United States: A Financial Portrait," NBER Chapters, in: The Economics of Art Museums, pages 129-178 National Bureau of Economic Research, Inc.
- Stein, John Picard, 1977. "The Monetary Appreciation of Paintings," Journal of Political Economy, University of Chicago Press, vol. 85(5), pages 1021-1035, October.
- 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.
When requesting a correction, please mention this item's handle: RePEc:kap:jculte:v:21:y:1997:i:3:p:249-271. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.