Auctioneer strategy and pricing: evidence from an art auctionMarketing Intelligence and Planning (2002)
AbstractThis study examines the role of the auctioneer’s strategy used in determining pricing at art auctions. It characterizes the role of auctioneers, prices at which the paintings were sold and tests a series of hypotheses about their behaviour. This is done using pricing data from an auction of paintings. It examines the relationship between the auctioneer’s estimates and realized prices. It determines whether the auctioneer and the market evaluate different attributes of different paintings differently and, finally, an analysis is undertaken on the determinants of prices in the art market as suggested by hedonic regression.
- Hedonic Regression
Citation InformationDavid Prentice and Clare D'Souza. "Auctioneer strategy and pricing: evidence from an art auction" Marketing Intelligence and Planning Vol. 20 Iss. 7 (2002)
Available at: http://works.bepress.com/david_prentice/14/