Affiliation:
1. 1 BSL Business School Lausanne Rte. de la Maladière 21 P.O. Box 73 Chavannes (VD) CH-1022 Switzerland
Abstract
We examine the determinants of the overall sales rates at art auctions in Turkey. We use a unique dataset that covers 79 auctions that took place between January 2005 and February 2008. After controlling for auction house differences, seasonal factors and the price levels of the auctions, we find that the expectations about the economic developments and consumption patterns play an important role in explaining the sales rates differentials across different auctions taking place over time.
Subject
Economics and Econometrics
Reference10 articles.
1. Auctions and the Price of Art;Ashenfelter O.;Journal of Economic Literature,2003
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3. An Analysis of the Price Dynamics between the Turkish and the International Paintings Markets;Atukeren E.;Applied Financial Economics,2009
4. Paintings and Numbers: An Econometric Investigation of Sale Rates, Prices, and Returns in Latin American Art Auctions;Campos N. F.;Oxford Economic Papers,2009
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