FACTORS AFFECTING THE PRICES OF ARTWORKS IN THE POLISH AUCTION MARKET
FACTORS AFFECTING THE PRICES OF ARTWORKS IN THE POLISH AUCTION MARKET

Summary/Abstract: The turbulences of the contemporary financial markets lead to exploration of alternative assets such as art. The aim of this pilot study is to investigate for the price determinants of paintings on the Polish art market using transaction data from art auctions involving the works of 50 most significant Polish artists. The study proved that some factors are statistically significant for the price of paintings; these include the subject (i.e., self-portrait), the age and size of the artwork, and the reputation of the artist.

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