The Market for Sculptures: an Adjacent Year Regression Index

Marilena Locatelli () and Roberto Zanola

P.O.L.I.S. department's Working Papers from Department of Public Policy and Public Choice - POLIS

Abstract: This paper analyses the performance of an investment in sculptures during the period 1987-1995 by applying the hedonic price technique with time dummy variables to a sample of over 27,000 sales occured at auctions. The main finding is that the trend of the rate of return on an investment in sculptures is more stable than those associated to alternative forms of investment during the analysed period.

Keywords: Auction; Hedonic Price; Sculpture; Return. (search for similar items in EconPapers)
JEL-codes: C5 Z1 (search for similar items in EconPapers)
Date: 2000-05
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