RETURNS FROM THE ART MARKET. PRICE INDEX EVALU-ATED FOR THE MOST-TRADED POLISH PAINTERS

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Krzysztof Kompa
Dorota Witkowska


Abstrakt
Relatively new approach toward investing is to concern pieces of art as investment instrument or collateral. In order to decide whether art is a good investment, it is necessary to evaluate expected returns, which might be obtained from such investment thus an art price index should be devel_x0002_oped. The aim of the paper is to discuss artworks as investment assets and evaluate price index of paintings produced by 11 Polish artists whose art_x0002_works were traded the most often on auctions that held in Poland in the years 2007-2010. In our research, employing data concerning 750 objects, we ap_x0002_ply hedonic index methodology to estimate returns from the paintings mar_x0002_ket. Our results justify the opinion that art can be treated as safe asset class, especially in comparison to equity market.

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Kompa, K., & Witkowska, D. (2014). RETURNS FROM THE ART MARKET. PRICE INDEX EVALU-ATED FOR THE MOST-TRADED POLISH PAINTERS. Metody Ilościowe W Badaniach Ekonomicznych, 15(2), 414–428. Pobrano z https://qme.sggw.edu.pl/article/view/3703
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