| Summary: | This research aims to develop a new quantitative method to determine
painting pricing based on 10 intangible factors, i.e. the number of exhibitions,
sales volume, average price, year of birth, auction records, in sales, year of
manufacture, medium, size, and place of sale. The selling price data are obtained
from six auction houses. Data consist of 225 painting and its sales price
parameters of its intangible factors. Kano Model and Linear Regression Model
are used to examine the relation between pricing and each variable. Based on the
model development scheme, there are 3 alternative models that can be obtained.
Each model then was evaluated by cross-validation procedure using 75 data.
Based on the value of R2 for each model, the Kano Model with variable previous sales is the best model with R2 of 76%.
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