PT - JOURNAL ARTICLE AU - Antonello E. Scorcu AU - Roberto Zanola TI - The “Right” Price for Art Collectibles:<br/> <em>A Quantile Hedonic Regression Investigation of Picasso Paintings</em> AID - 10.3905/jai.2011.14.2.089 DP - 2011 Sep 30 TA - The Journal of Alternative Investments PG - 89--99 VI - 14 IP - 2 4099 - https://pm-research.com/content/14/2/89.short 4100 - https://pm-research.com/content/14/2/89.full AB - Different art objects are likely to be priced by means of different systems of hedonic characteristics; more precisely, different evaluation procedures for high- and low-price items are often postulated. However, the empirical evidence on this point is scant. The purpose of this article is to fill this gap with a quantile hedonic regression approach. Using a dataset of 716 Picasso paintings sold at auction worldwide, the authors highlight the critical role of the price classes in determining the evaluation criteria of art items.TOPICS: Real assets/alternative investments/private equity, statistical methods, performance measurement