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Stamp characteristics and long-term return after issuance: evidence from new China stamps
Chen, Xin; Chen, Xian - In: China Finance Review International 2 (2012) August, pp. 351-376
Purpose–The purpose of this paper is to examine long-term return of new China collectible stamps after their issuance … determinants of stamps' long-term return and test their hypotheses empirically in a sample of 1,201 sets of Chinese collectible … stamps issued between 1949 and 2008. Findings–The paper finds Chinese stamps provide decent returns for collectors in terms …
Persistent link: https://www.econbiz.de/10010565827
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The Iconic Boom in Modern Russian Art
Renneboog, Luc; Spaenjers, C. - Tilburg University, Center for Economic Research - 2009
This paper investigates the prices and the returns in the market for modern Russian art, a prime example of an ‘emerging art market’, over the last four decades. After applying a hedonic regression model on an extensive dataset containing 52,154 sales by 410 Russian artists, we show that the...
Persistent link: https://www.econbiz.de/10011091483
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An hedonic analysis of American collectable comic-book prices
Wyburn, John; Roach, Paul - In: Journal of Cultural Economics 36 (2012) 4, pp. 309-326
A well-documented instance of the establishment and evolution of a modern market is that of the American collectable comic-book market. The development of this can be reliably traced from inception to the present day. A sample of 1,100 American collectable comic-books is subjected to an hedonic...
Persistent link: https://www.econbiz.de/10010867749
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Does it pay to invest in Art? A Selection-corrected Returns Perspective
Korteweg, Arthur; Kräussl, Roman; Verwijmeren, Patrick - Tinbergen Instituut - 2013
This paper shows the importance of correcting for sample selection when investing in illiquid assets with endogenous trading. Using a large sample of 20,538 paintings that were sold repeatedly at auction between 1972 and 2010, we find that paintings with higher price appreciation are more likely...
Persistent link: https://www.econbiz.de/10011256292
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Art and Money
Goetzmann, William; Renneboog, Luc; Spaenjers, Christophe - National Bureau of Economic Research (NBER) - 2009
This paper investigates the impact of equity markets and top incomes on art prices. Using a long-term art market index that incorporates information on repeated sales since the eighteenth century, we demonstrate that both same-year and lagged equity market returns have a significant impact on...
Persistent link: https://www.econbiz.de/10008628340
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The 1980s Price Bubble on (Post) Impressionism
Bocart, Fabian; Bastiaensen, Ken; Cauwels, Peter - Association for Cultural Economics International - ACEI - 2011
The Log Periodic Power Law is a model used to define and measure speculative bubbles. This model has proven useful to track bubbles and even predict crashes of liquid asset classes. Using this methodology coupled with properties of cointegration between stocks and art, the 1980s price bubble on...
Persistent link: https://www.econbiz.de/10009366344
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Buying Beauty : On Prices and Returns in the Art Market
Renneboog, Luc; Spaenjers, C. - Tilburg University, Center for Economic Research - 2009
This paper investigates the evolution of prices and returns in the art market since the middle of the previous century. We first compile a comprehensive list of more than 10,000 artists and then build a dataset that contains information on more than 1.1 million auction sales of paintings,...
Persistent link: https://www.econbiz.de/10011090620
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Art and Money
Renneboog, Luc; Goetzmann, W.; Spaenjers, C. - Tilburg University, Center for Economic Research - 2010
This paper investigates the impact of equity markets and top incomes on art prices. Using a newly constructed art market index, we demonstrate that equity market returns have had a significant impact on the price level in the art market over the last two centuries. We also find empirical...
Persistent link: https://www.econbiz.de/10011090912
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Does it Pay to Invest in Art? A Selection-corrected Returns Perspective
Kraussl, Roman; Korteweg, Arthur; Verwijmeren, Patrick - Luxembourg School of Finance, Faculté de droit, … - 2013
This paper shows the importance of correcting for sample selection when investing in illiquid assets with endogenous trading. Using a large sample of 20,538 paintings that were sold repeatedly at auction between 1972 and 2010, we find that paintings with higher price appreciation are more likely...
Persistent link: https://www.econbiz.de/10011095084
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Does it Pay to Invest in Art? A Selection-corrected Returns Perspective
Kraussl, Roman; Korteweg, Arthur; Verwijmeren, Patrick - Centre de Recherche en Économie Appliquée (CREA), … - 2013
This paper shows the importance of correcting for sample selection when investing in illiquid assets with endogenous trading. Using a large sample of 20,538 paintings that were sold repeatedly at auction between 1972 and 2010, we find that paintings with higher price appreciation are more likely...
Persistent link: https://www.econbiz.de/10010900735