This paper investigates the impact of equity markets and top incomes on art prices. Using a
newly constructed art market index, we demonstrate that equity market returns have had a …

In this paper, we investigate the efficiency in the art markets, using a generalized spectral
test (GST) in a rolling window approach to detect departure from the martingale difference …

Aggregate art price patterns mask a lot of underlying variation—both in the time series and
in the cross-section. We argue that, to increase our understanding of the market for …

In this article, we analyse the motives of collectors in the context of wealth management.
Using 1185 questionnaires completed by persons liable to real estate wealth tax, we try to …

This paper explores the market for indeterminate works of art. Our data set includes 1578
sales of fifteenth and sixteenth-century anonymous Flemish paintings, mainly collected from …

We argue that extrapolative expectations drive boom–bust cycles in the postwar art market.
Price run-ups coincide with increases in demand fundamentals but are followed by …

This study constructs a quarterly hedonic price index using 64,203 artworks, by seventy‐one
well‐known modern and contemporary A ustralian artists, sold at auction houses over the …

Art markets are segmented geographically in two different but mutually reinforcing ways.
First, practical and legal barriers hinder international art transactions. As an extreme …

We study financial returns on alternative collectible investment assets, such as toys, using
LEGO sets as an example. Such iconic toys with diminishing over time supply and high …

This paper constructs the most comprehensive paintings price index in Turkey by using
32,391 manually collected sales transactions, including artworks of 413 artists over the …