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Table of contents
Is the Art Market Like the Stock Market?
Plan of presentation
Primary source:
Graves Data for Each Transaction
Art Market Transactions, 1740-1909
Counts of the Art Market Transactions
Overall Statistics for the Transactions
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Slide 9
Slide 10
Slide 11
Coding added to Graves data
Statistics for Art Code
Old Master Painters
Contemporary Painters
Slide 16
Statistics for Types of Buyers
Statistics for Types of Sellers
Sex Effects
Statistics for Art Subjects
Reactions to summary statistics
Characteristics of the Art Market
Calculation of art market index
Identifying resales of artworks
Adaptation of Housing Index Regression Source: J.A.S.A., Bailey, Muth and Nourse
Slide 26
Estimation of price: hedonics
Slide 28
Slide 29
Slide 30
Slide 31
Slide 32
Results of hedonic regressions
Market participants
Slide 35
Slide 36
Support of artists by dealers
Slide 38
Slide 39
Number of times at Auction
Slide 41
Slide 42
Dealer market characteristics
Characteristics of non-dealers
Economic model of art market
What needs to be done
Possible future research questions