“provenance”) and the price premium paid for such items both increased. In addition, we show that standard assumptions behind …

and impressionist paintings sold at auction in New York by Christies and Sotheby. An art price index is constructed to … adjust for heterogeneity of individual paintings. Time series properties of the art price index are examined in relation with … the S&P500 and Topix stock market indices. The art-price index is heteroskedastic and autocorrelated. When the log …

, prices were made conditional on correlated variables such as the number of figures depicted. We find evidence of price …

This paper highlights the paradoxical effects of increased price data in markets with difficult-to-value products where … non-price factors are highly relevant. In the fine art market, the growth of market information providers facilitated … access to auction price data, beneficial in a market noted for its clandestine dealings. Drawing from inductive ethnographic …