- Title
- Art Auctions
- Author(s)
- Orley Ashenfelter Orley Ashenfelter (Princeton University)
- Kathryn Graddy Kathryn Graddy (University of Oxford)
- Abstract
- Works of art and culture are sold by many means. These include transactions between dealers and their customers, auctions with open outcry, and even, occasionally, sealed bid auctions. However, the standard procedure for establishing art valuations is most commonly the English auction, where prices ascend in open bidding. The primary, but not the only, alternative, is the Dutch auction, where the auctioneer starts at a high price and reduces it until a bidder is found.
- Creation Date
- 2010-03
- Section URL ID
- CEPS
- Paper Number
- 203
- URL
- https://gceps.princeton.edu/wp-content/uploads/2017/01/203ashenfelter.pdf
- File Function
- Jel
- D020; D440; L100; Z110
- Keyword(s)
- art, auction, auctions, art dealers, biddets, dutch auction, english auction
- Suppress
- false
- Series
- 3