Declining Values and the Afternoon Effect: Evidence from Art Auctions

Alan Beggs and Kathryn Graddy ()

Economics Series Working Papers from University of Oxford, Department of Economics

Abstract: This paper reports the results of a study on the order of sale in art auctions. The final bid relative to the autionner's estimated price is found to decline throughout the course of auction.

Keywords: AUCTIONS; PRICES (search for similar items in EconPapers)
JEL-codes: D40 D44 (search for similar items in EconPapers)
Date: 1996
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Journal Article: Declining Values and the Afternoon Effect: Evidence from Art Auctions (1997)
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Persistent link: http://EconPapers.repec.org/RePEc:oxf:wpaper:99184

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