Art Auctions

Orley Ashenfelter and Kathryn Graddy ()

No 1212, Working Papers from Princeton University, Department of Economics, Center for Economic Policy Studies.

Abstract: Works of art and culture are sold by many means. These include transactions between dealers and their customers, auctions with open outcry, and even, occasionally, sealed bid auctions. However, the standard procedure for establishing art valuations is most commonly the English auction, where prices ascend in open bidding. The primary, but not the only, alternative, is the Dutch auction, where the auctioneer starts at a high price and reduces it until a bidder is found.

Keywords: art; auction; auctions; art dealers; biddets; dutch auction; english auction (search for similar items in EconPapers)
JEL-codes: D02 D44 L10 Z11 (search for similar items in EconPapers)
Date: 2010-03
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https://gceps.princeton.edu/wp-content/uploads/2017/01/203ashenfelter.pdf

Related works:
Working Paper: Art Auctions (2019)
Chapter: Art Auctions (2011)
Chapter: Art Auctions (2006)
Chapter: Art auctions (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:pri:cepsud:203

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