This paper examines how variation in mood influences subjective risk and hence auction prices for art in London during … in the art market. …

Works of art and culture are sold by many means. These include transactions between dealers and their customers …, auctions with open outcry, and even, occasionally, sealed bid auctions. However, the standard procedure for establishing art …

The failure of many paintings to sell in art auctions indicates the presence of reserve prices set by sellers. This … paper examines the relationship between sale rates and price surprises over time in art auctions. Using data on contemporary … and impressionist art, we show that while sale rates appear to have little relationship to current prices, there exists a …

We examine the determinants of the overall sales rates at art auctions in Turkey. We use a unique dataset that covers …

The art market is subject to frequent booms and busts in both prices and volume,<br/>which are difficult to reconcile …<br/>speculative transactions; (ii) positive price-volume correlation is pervasive across<br/>art movements, and is larger for the most volatile … segments of the art market; (iii)<br/>volume predicts negative long-term returns, a relation that is statistically and …

The art market is subject to frequent booms and busts in both prices and volume, which are difficult to reconcile with … speculative transactions; (ii) positive price-volume correlation is pervasive across art movements, and is larger for the most … volatile segments of the art market; (iii) volume predicts negative long-term returns, a relation that is statistically and …

This paper presents a model of trading in unique durable assets that provide idiosyncratic payoffs, such as art, luxury … value of the asset and on the expected resale revenues. Individuals with a relatively strong taste for the asset are willing … historical art transaction data. …

and successful sales after attracting important works of art. Sellers compensate third-party guarantors by splitting the … prices in art auctions, using a large database of auctions and a smaller database of repeat sales. …