Abstract
The article uses auction data collected from the eBay internet site to examine the effect of various parameters on number of bids and selling price of art. The article further uses an insight from the auction literature to gather evidence about whether art on eBay is purchased for consumption or investment purposes. The article argues that the evidence found of a positive relationship between the number of bids and the final price suggests that art sold on eBay is not, in general, investment art.
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Acknowledgement
The authors would like to thank Linda Ficht and Pavel Chladek for their invaluable assistance with this research.
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Highfill, J., O’Brien, K. Bidding and prices for online art auctions: sofa art or investment. J Cult Econ 31, 279–292 (2007). https://doi.org/10.1007/s10824-007-9054-7
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DOI: https://doi.org/10.1007/s10824-007-9054-7