Are autographs integrating the global art market? The case of hedonic prices for French autographs (1960-2005)

Ileana Miranda Mendoza (), François Gardes (), Xavier Greffe () and Pierre-Charles Pradier
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Ileana Miranda Mendoza: Centre d'Economie de la Sorbonne, https://centredeconomiesorbonne.univ-paris1.fr
François Gardes: Centre d'Economie de la Sorbonne - Paris School of Economics, https://centredeconomiesorbonne.univ-paris1.fr
Xavier Greffe: Centre d'Economie de la Sorbonne, https://centredeconomiesorbonne.univ-paris1.fr

Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne

Abstract: The market for autographs has become more open to international buyers since 1990. Our data set features a large sample of store and auction sales for selected authors every five years from 1960 to 2005. The estimation of a hedonic price function shows that page count, type of author, date and type of the document, together with consumer and assets price indices explain more than one half of the price differences. Authors whho are more often sold at auctions (hence more likely to attract international demand) carry a 28% premium when sold in stores. The autographs (real) price increased by 222% during the period, while the hedonic price increased by 190%. With growing correlation between French autograph prices and art market index, as well as a supply function responsive to market valuation and trends, the French autograph market has become more integrated in the global art market since the 1990's

Keywords: Autographs; Hedonic prices; Hedonic price function; Globalization (search for similar items in EconPapers)
JEL-codes: B41 C13 C32 D46 Z10 Z11 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2014-02
New Economics Papers: this item is included in nep-cul
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ftp://mse.univ-paris1.fr/pub/mse/CES2014/14053.pdf (application/pdf)

Related works:
Working Paper: Are autographs integrating the global art market? The case of hedonic prices for French autographs (1960-2005) (2014)
Working Paper: Are autographs integrating the global art market? The case of hedonic prices for French autographs (1960-2005) (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:mse:cesdoc:14053

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