Valuation Mechanisms of Fine European Tapestries in the International Auction Market
Using textile arts (fine European tapestries) as a case study, we demonstrate the potential of hedonic regression to better understand buyers’ willingness to pay for these works at auction. Once highly valued, this medium offers unique characteristics that differ in part from paintings and affect b...
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| Format: | Article |
| Language: | Danish |
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Formakademisk, Oslo
2023-09-01
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| Series: | FORMakademisk |
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| Online Access: | https://journals.oslomet.no/index.php/formakademisk/article/view/5394 |
| _version_ | 1797678734352842752 |
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| author | Anne-Sophie Radermecker |
| author_facet | Anne-Sophie Radermecker |
| author_sort | Anne-Sophie Radermecker |
| collection | DOAJ |
| description |
Using textile arts (fine European tapestries) as a case study, we demonstrate the potential of hedonic regression to better understand buyers’ willingness to pay for these works at auction. Once highly valued, this medium offers unique characteristics that differ in part from paintings and affect buyers’ purchasing behaviors differently. Based on a dataset of 602 wall-hangings sold at Christie’s and Sotheby’s over the last decade, our empirical findings suggest that local place branding, aesthetics (antiqueness, ornamental effects), and material quality are crucial price determinants of textile arts.
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| first_indexed | 2024-03-11T23:04:12Z |
| format | Article |
| id | doaj.art-19eb776527e048e3b37377bcd7a43300 |
| institution | Directory Open Access Journal |
| issn | 1890-9515 |
| language | Danish |
| last_indexed | 2024-03-11T23:04:12Z |
| publishDate | 2023-09-01 |
| publisher | Formakademisk, Oslo |
| record_format | Article |
| series | FORMakademisk |
| spelling | doaj.art-19eb776527e048e3b37377bcd7a433002023-09-21T13:40:10ZdanFormakademisk, OsloFORMakademisk1890-95152023-09-0116410.7577/formakademisk.5394Valuation Mechanisms of Fine European Tapestries in the International Auction MarketAnne-Sophie Radermecker0Université libre de Bruxelles Using textile arts (fine European tapestries) as a case study, we demonstrate the potential of hedonic regression to better understand buyers’ willingness to pay for these works at auction. Once highly valued, this medium offers unique characteristics that differ in part from paintings and affect buyers’ purchasing behaviors differently. Based on a dataset of 602 wall-hangings sold at Christie’s and Sotheby’s over the last decade, our empirical findings suggest that local place branding, aesthetics (antiqueness, ornamental effects), and material quality are crucial price determinants of textile arts. https://journals.oslomet.no/index.php/formakademisk/article/view/5394Textile ArtsEuropean TapestryPrice Formation MechanismsHedonic RegressionAuction Market |
| spellingShingle | Anne-Sophie Radermecker Valuation Mechanisms of Fine European Tapestries in the International Auction Market FORMakademisk Textile Arts European Tapestry Price Formation Mechanisms Hedonic Regression Auction Market |
| title | Valuation Mechanisms of Fine European Tapestries in the International Auction Market |
| title_full | Valuation Mechanisms of Fine European Tapestries in the International Auction Market |
| title_fullStr | Valuation Mechanisms of Fine European Tapestries in the International Auction Market |
| title_full_unstemmed | Valuation Mechanisms of Fine European Tapestries in the International Auction Market |
| title_short | Valuation Mechanisms of Fine European Tapestries in the International Auction Market |
| title_sort | valuation mechanisms of fine european tapestries in the international auction market |
| topic | Textile Arts European Tapestry Price Formation Mechanisms Hedonic Regression Auction Market |
| url | https://journals.oslomet.no/index.php/formakademisk/article/view/5394 |
| work_keys_str_mv | AT annesophieradermecker valuationmechanismsoffineeuropeantapestriesintheinternationalauctionmarket |