Hedonic Price Index of Polish Paintings for the Most Popular Artists at the Auction Market in Years 2007–2010

Dorota Maria Witkowska () and Krzysztof Kompa ()
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Dorota Maria Witkowska: Faculty of Management, University of Lodz
Krzysztof Kompa: Warsaw University of Life Sciences

Acta Universitatis Nicolai Copernici, Ekonomia, 2014, vol. 45, issue 1, 7-26

Abstract: Situation at financial markets tend investors to look for alternative investments to diversify their portfolio. The aim of our research is evaluation of hedonic price index for selected Polish painters based on data from auctions of paintings held by auction houses and foundations in the years 2007 – 2010. The criterion of artworks selection is popularity of au-thors that is measured by the number of paintings sold in analyzed period. We construct and estimate several models for different sets of hedonic variables. On the basis of models param-eter estimates the hedonic quality adjustment for the art price index is evaluated.

Keywords: hedonic price index; art market; alternative investment (search for similar items in EconPapers)
JEL-codes: C43 C51 G11 Z11 (search for similar items in EconPapers)
Date: 2014
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