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dc.contributor.authorWorthington, A.en_US
dc.contributor.authorHiggs, Helenen_US
dc.contributor.editorGuenther Schulzeen_US
dc.date.accessioned2017-05-03T15:14:04Z
dc.date.available2017-05-03T15:14:04Z
dc.date.issued2006en_US
dc.date.modified2013-02-07T04:51:41Z
dc.identifier.issn08852545en_US
dc.identifier.doi10.1007/s10824-005-9000-5en_US
dc.identifier.urihttp://hdl.handle.net/10072/14008
dc.description.abstractIn this note, 30,227 paintings by fifty well-known modern and contemporary Australian artists sold at auction over the period 1973-2003 are used to construct a hedonic price index. The attributes included in the hedonic regression model include the name, age and living status of the artist, the number of works sold, the size and medium of the painting, and the auction house, month and year in which the painting was sold. The results indicate that returns on Australian modern and contemporary art averaged nearly five percent over the period with a standard deviation of sixteen percent. The results also show that a ten percent increase in the Australian stock market is associated with a 3.4 percent increase in the art market. Generally, artworks by artists deceased at the time of auction, larger works, works executed in oils, and those auctioned by Sotheby's or Christie's in July or August are associated with higher prices.en_US
dc.description.peerreviewedYesen_US
dc.description.publicationstatusYesen_US
dc.format.extent139708 bytes
dc.format.extent34030 bytes
dc.format.mimetypeapplication/pdf
dc.format.mimetypetext/plain
dc.languageEnglishen_US
dc.language.isoen_US
dc.publisherSpringeren_US
dc.publisher.placeUSen_US
dc.relation.ispartofstudentpublicationNen_US
dc.relation.ispartofpagefrom73en_US
dc.relation.ispartofpageto84en_US
dc.relation.ispartofedition2006en_US
dc.relation.ispartofissue1en_US
dc.relation.ispartofjournalJournal of Cultural Economicsen_US
dc.relation.ispartofvolume30en_US
dc.rights.retentionYen_US
dc.subject.fieldofresearchcode340402en_US
dc.titleA note on financial risk, return and asset pricing in Australian modern and contemporary arten_US
dc.typeJournal articleen_US
dc.type.descriptionC1 - Peer Reviewed (HERDC)en_US
dc.type.codeC - Journal Articlesen_US
gro.rights.copyrightCopyright 2006 Springer-Verlag. This is the author-manuscript version of this paper. Reproduced in accordance with the copyright policy of the publisher.en_US
gro.date.issued2006
gro.hasfulltextFull Text


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