From Arts to Marts : základní determinanty cen na českém aukčním trhu s výtvarným uměním

Title in English From Arts to Marts : Fundamental Price Determinants on the Czech Fine Arts Auction Market


Year of publication 2017
Type Article in Periodical
Magazine / Source Scientia et Societas
MU Faculty or unit

Faculty of Arts

Field Economy
Keywords Fine art auctions; determinants of price; afternoon effect
Description The article deals with the issue of pricing on the art auction market, specifically paintings. Number of 2 376 observations have been obtained from online database containing information about artworks selled in czech auctions during 2014-2016 in four czech auction houses. On these data, the fundamental characteristics of works of art, which significantly affect the price, were observed. Comparison with similar research from abroad has shown that there are no significant differences between the Czech art market and other foreign markets. There was also observed so-called afternoon effect phenomenon, which was not confirmed.
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