access to auction price data, beneficial in a market noted for its clandestine dealings. Drawing from inductive ethnographic …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 …

We analyze the evolution of the price of paintings in London auctions with a unique dataset of over 200,000 sales in … the period 1780-1840. We build a price index for the representative painting through hedonic regressions controlling for …

exploit a pre-determined rotation of which of these two houses holds their auction first during auction week in New York City …

academic interest in art, understanding of auction prices is limited. Price intransparency is exacerbated by contrasting … framework for the auction price mechanism that accounts for quantifiable and unquantifiable or difficult-to-quantify factors and … is no comprehensive theory of auction prices that combines both perspectives. To fill this gap, the author conducts three …