Art in Africa: Hedonic price analysis of the South African fine art auction market, 2009–2014

Real asset markets are characterized by illiquidity and heterogeneous assets, presenting challenges to price estimators. Use of a new dataset of 7,553 auction fine art lots brought to market in South Africa, for 2009–14, allows us to examine the full sales hedonic price estimator over a wide set of...

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Bibliographic Details
Published in:Economic modelling 2020-01, Vol.84, p.88-101
Main Authors: Fedderke, Johannes W., Li, Kaini
Format: Article
Language:English
Subjects:
Art market
Hedonic price equation
South Africa
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