Abstract
In his paper “How Auctions Work for Wine and Art” (1989), Orley Ashenfelter shows how auctioneers provide genuine expertise in predicting prices of art at auction. Using material from British and American auctions of impressionist paintings, he is able to show a high correlation of price estimates and prices actually obtained.
I would like to thank Erik Nicolaisen, Christian Hjorth-Andersen, Tine Gaihede and Philip Bøttern for helpful comments and corrections to this paper.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Ashenfelter. O. (1989) “How Auctions Work for Wine and Art” Journal of Economic Perspective, Vol. 3, No. 3, pp. 22–36.
Salamon, M. (1988) Kunstauktioner, Master Thesis in Economics, University of Copenhagen.
Salamon, M. (1989) “Kunstauktioner” Ceteris Paribus No. 4, pp. 32–37.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 1992 Springer-Verlag Berlin Heidelberg
About this paper
Cite this paper
Salamon, M. (1992). Auction of Works of Art. In: Towse, R., Khakee, A. (eds) Cultural Economics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-77328-0_10
Download citation
DOI: https://doi.org/10.1007/978-3-642-77328-0_10
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-77330-3
Online ISBN: 978-3-642-77328-0
eBook Packages: Springer Book Archive