Research background: The dynamics of the art market are usually presented in terms of price fluctuations, price indexes and financial returns. This paper proposes the value and volume approach, which has not been considered in an aggregative way for a long time in the economic literature.Purpose...

Utilizing the near universe of tax filings, we document both the extent of donations of art to non-profit organizations in the U.S. and their use as a method of tax avoidance. Non-profit organizations hold sizable assets, worth $12.4 trillion in 2019, with 2.65% identified as holding art, valued...