Aubry, Mathieu; Kräussl, Roman; Manso, Gustavo; … - 2022 - This version: January 6, 2022
We construct a neural network algorithm that generates price predictions for art at auction, relying on both visual and … non-visual object characteristics. We find that higher automated valuations relative to auction house pre-sale estimates … average prices. Furthermore, we show that auctioneers' prediction errors are persistent both at the artist and at the auction …